Hamilton Utilities Correlations

UMAX Etf

13.17 0.16 1.20%

The current 90-days correlation between Hamilton Utilities YIELD and Hamilton Equity YIELD is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Utilities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Utilities YIELD moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Utilities Correlation With Market

Modest diversification

The correlation between Hamilton Utilities YIELD and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Utilities YIELD and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hamilton Utilities could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hamilton Utilities 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 Hamilton Utilities - 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 Hamilton Utilities YIELD to buy it.

Moving together with Hamilton Etf

0.76

ZWU

BMO Covered Call

Pair Corr

Moving against Hamilton Etf

0.54	CALL	Evolve Banks Enhanced	Pair Corr
0.52	ZUB	BMO Equal Weight	Pair Corr
0.48	ZBK	BMO Equal Weight	Pair Corr
0.45	TXF	First Asset Tech	Pair Corr
0.72	PZW-F	Invesco FTSE RAFI	Pair Corr
0.5	ZWK	BMO Covered Call	Pair Corr
0.5	ZIN	BMO SPTSX Equal	Pair Corr
0.42	HEWB	Global X Equal	Pair Corr
0.36	VSP	Vanguard SP 500	Pair Corr
0.33	XIC	iShares Core SPTSX	Pair Corr
0.31	HXU	BetaPro SP TSX	Pair Corr
0.47	BFIN	Brompton North American	Pair Corr
0.43	HLPR	Global X Laddered	Pair Corr
0.41	CIC	CI Canadian Banks	Pair Corr
0.4	ZDM	BMO MSCI EAFE	Pair Corr

Related Correlations Analysis

	SMAX	VGH	WSRI	WSRD	QAH	PDC	VEF	HDIV	XHY	QMAX
SMAX		0.4	0.22	0.65	0.48	0.27	-0.08	0.21	0.18	0.62	SMAX
VGH	0.4		0.8	0.55	0.71	0.76	0.5	0.76	0.82	0.24	VGH
WSRI	0.22	0.8		0.47	0.46	0.66	0.35	0.73	0.62	0.01	WSRI
WSRD	0.65	0.55	0.47		0.6	0.29	0.03	0.2	0.52	0.54	WSRD
QAH	0.48	0.71	0.46	0.6		0.5	0.58	0.6	0.77	0.73	QAH
PDC	0.27	0.76	0.66	0.29	0.5		0.52	0.91	0.57	-0.06	PDC
VEF	-0.08	0.5	0.35	0.03	0.58	0.52		0.62	0.65	0.16	VEF
HDIV	0.21	0.76	0.73	0.2	0.6	0.91	0.62		0.61	0.05	HDIV
XHY	0.18	0.82	0.62	0.52	0.77	0.57	0.65	0.61		0.32	XHY
QMAX	0.62	0.24	0.01	0.54	0.73	-0.06	0.16	0.05	0.32		QMAX
	SMAX	VGH	WSRI	WSRD	QAH	PDC	VEF	HDIV	XHY	QMAX

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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

HDIV	+ 0.91	PDC
XHY	+ 0.82	VGH
WSRI	+ 0.8	VGH
XHY	+ 0.77	QAH
PDC	+ 0.76	VGH
HDIV	+ 0.76	VGH

High negative correlations

VEF	- 0.08	SMAX
QMAX	- 0.06	PDC

Hamilton Utilities Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton Utilities 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 Hamilton Utilities' 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SMAX	0.58	0.05	0.01	1.52	0.68	(0.61)	1.39	(1.23)	3.90
VGH	0.56	0.04	(0.01)	2.06	0.65	(0.60)	1.06	(1.02)	2.80
WSRI	0.44	0.03	(0.02)	0.49	0.52	(0.49)	0.87	(0.72)	3.65
WSRD	0.53	0.04	0.00	0.23	0.55	(0.63)	1.13	(1.04)	3.11
QAH	0.60	0.02	(0.01)	0.08	0.81	(0.58)	1.16	(1.24)	4.68
PDC	0.32	0.08	0.05	(0.99)	0.30	(0.34)	0.65	(0.68)	2.12
VEF	0.49	0.05	0.02	0.17	0.70	(0.45)	1.02	(0.97)	2.97
HDIV	0.60	0.05	0.03	0.15	0.74	(0.61)	1.13	(1.39)	3.76
XHY	0.18	0.00	(0.21)	0.03	0.16	(0.24)	0.42	(0.30)	0.91
QMAX	1.00	(0.04)	(0.03)	0.00	1.45	(0.96)	2.46	(2.17)	5.81

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hamilton Utilities 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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