TD Q Correlations

Etfs . Canada . 
Etf . TD Q Global
TQGD Etf  CAD 23.85  0.06  0.25%   
The current 90-days correlation between TD Q Global and BetaPro NASDAQ 100 2x is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TD Q moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Q Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TD Q Correlation With Market

Very poor diversification

The correlation between TD Q Global and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD Q Global and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TD Q could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TD Q when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back TD Q - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling TD Q Global to buy it.

Moving together with TQGD Etf

  0.8HAZ Global X ActivePairCorr
  0.76ZWG BMO Global HighPairCorr
  0.91CYH iShares Global MonthlyPairCorr
  0.93XDG iShares Core MSCIPairCorr
  0.91BDIV Brompton Global DividendPairCorr
  0.94XDGH iShares Core MSCIPairCorr
  0.74HGU BetaPro Canadian GoldPairCorr
  0.79HGGG Harvest Global GoldPairCorr
  0.8GLDX Global X GoldPairCorr
  0.79ZGD BMO Equal WeightPairCorr
  0.79ZJG BMO Junior GoldPairCorr
  0.75HBU BetaPro Gold BullionPairCorr
  0.65HUZ Global X SilverPairCorr
  0.66SVR iShares Silver BullionPairCorr
  0.81XGD iShares SPTSX GlobalPairCorr
  0.63ZGI BMO Global InfrastructurePairCorr
  0.84GCTB Guardian Ultra ShortPairCorr
  0.82XCNS iShares Core ConservativePairCorr
  0.93XEU iShares MSCI EuropePairCorr
  0.79ATSX Accelerate Canadian LongPairCorr
  0.76ZBK BMO Equal WeightPairCorr
  0.81XSTB iShares ESG AwarePairCorr
  0.62ZWU BMO Covered CallPairCorr
  0.95UDIV Manulife Smart DividendPairCorr
  0.9TERM Manulife Smart ShortPairCorr
  0.86DGRC CI Canada QualityPairCorr
  0.92ZCON BMO Conservative ETFPairCorr
  0.75CALL Evolve Banks EnhancedPairCorr
  0.91EIT-UN Canoe EIT IncomePairCorr
  0.86HAC Global X SeasonalPairCorr
  0.91GDV Global Dividend GrowthPairCorr
  0.77HXU BetaPro SP TSXPairCorr
  0.86CTMB CI Target 2029PairCorr
  0.69TCLV TD Q CanadianPairCorr
  0.62BANK Evolve Canadian BanksPairCorr

Related Correlations Analysis


Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VE
+ 0.95
TQGM
GLCC
+ 0.9
VE
TQGM
+ 0.88
XDG
TQSM
+ 0.86
TQGM
GLCC
+ 0.85
TQGM
HDIF
+ 0.85
VE
  

High negative correlations

NGPE
- 0.76
XDG
VE
- 0.73
NGPE
NGPE
- 0.67
TQGM
GLCC
- 0.61
NGPE
NGPE
- 0.52
XHC
HDIF
- 0.39
NGPE

TD Q Constituents Risk-Adjusted Indicators

There is a big difference between TQGD Etf performing well and TD Q ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze TD Q's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
XHC  0.67  0.05  0.02  0.17  0.59 
(0.88)
 1.82 
(1.25)
 3.93 
XDG  0.53  0.08  0.07  0.36  0.42 
(0.62)
 1.24 
(1.02)
 3.19 
TQGM  0.51  0.03  0.00  0.13  0.56 
(0.55)
 1.19 
(1.15)
 2.98 
NGPE  1.15 (0.31) 0.00 (0.33) 0.00 
 0.00 
 1.96 
(2.82)
 12.05 
TQSM  0.74  0.01 (0.03) 0.07  0.80 
(0.81)
 2.10 
(1.57)
 4.09 
VE  0.53  0.05  0.02  0.19  0.56 
(0.55)
 1.13 
(1.00)
 2.86 
GLCC  1.95  0.36  0.11  0.38  2.86 
(1.97)
 4.59 
(4.40)
 16.59 
HULC  0.62 (0.08) 0.00 (0.08) 0.00 
 0.00 
 1.15 
(1.40)
 3.94 
HDIF  0.66  0.01 (0.01) 0.08  0.91 
(0.70)
 1.40 
(1.30)
 5.15 
QQU  1.54 (0.20) 0.00 (0.11) 0.00 
 0.00 
 2.73 
(3.89)
 9.29 

Be your own money manager

Our tools can tell you how much better you can do entering a position in TD Q without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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