Wealthsimple Developed Correlations

WSRD Etf

CAD 35.17 0.23 0.65%

The current 90-days correlation between Wealthsimple Developed and iShares Global Infrastructure is 0.47 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Wealthsimple Developed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wealthsimple Developed Markets moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Wealthsimple Developed Correlation With Market

Very poor diversification

The correlation between Wealthsimple Developed Markets and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wealthsimple Developed Markets and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Wealthsimple Etf

0.94	XEF	iShares Core MSCI	Pair Corr
0.93	ZEA	BMO MSCI EAFE	Pair Corr
0.92	VIU	Vanguard FTSE Developed	Pair Corr
0.93	XIN	iShares MSCI EAFE	Pair Corr
0.93	XFH	iShares Core MSCI	Pair Corr
0.93	ZDM	BMO MSCI EAFE	Pair Corr
0.79	ZLI	BMO Low Volatility	Pair Corr
0.92	VDU	Vanguard FTSE Developed	Pair Corr
0.92	VEF	Vanguard FTSE Developed	Pair Corr
0.92	XIU	iShares SPTSX 60	Pair Corr
0.65	XSP	iShares Core SP	Pair Corr
0.91	XIC	iShares Core SPTSX	Pair Corr
0.91	ZCN	BMO SPTSX Capped	Pair Corr
0.85	ZEB	BMO SPTSX Equal	Pair Corr
0.84	UMI	CI MidCap Dividend	Pair Corr
0.68	PFMN	Picton Mahoney Fortified	Pair Corr
0.87	XSMH	iShares SP Small	Pair Corr
0.72	CLF	iShares 1 5	Pair Corr
0.88	PINC	Purpose Multi Asset	Pair Corr
0.81	HGGG	Harvest Global Gold	Pair Corr
0.69	XDV	iShares Canadian Select	Pair Corr
0.88	XINC	iShares Core Income	Pair Corr
0.65	SBT	Silver Bullion Trust	Pair Corr
0.84	EIT-UN	Canoe EIT Income	Pair Corr
0.88	RID	RBC Quant EAFE	Pair Corr
0.65	SVR	iShares Silver Bullion	Pair Corr
0.81	CYH	iShares Global Monthly	Pair Corr
0.69	HURA	Global X Uranium	Pair Corr
0.89	XSEM	iShares ESG Aware	Pair Corr
0.85	XESG	iShares ESG Aware	Pair Corr
0.75	XDIV	iShares Core MSCI	Pair Corr

Related Correlations Analysis

	WSRI	VEF	PDC	UMAX	VGH	QAH	HDIV	SMAX	XHY	CIF
WSRI		0.85	0.55	0.58	0.85	0.55	0.86	0.16	0.86	0.72	WSRI
VEF	0.85		0.74	0.74	0.88	0.54	0.94	-0.2	0.93	0.88	VEF
PDC	0.55	0.74		0.87	0.65	0.12	0.61	-0.49	0.59	0.86	PDC
UMAX	0.58	0.74	0.87		0.6	0.02	0.55	-0.44	0.56	0.93	UMAX
VGH	0.85	0.88	0.65	0.6		0.73	0.88	0.07	0.91	0.75	VGH
QAH	0.55	0.54	0.12	0.02	0.73		0.71	0.43	0.72	0.23	QAH
HDIV	0.86	0.94	0.61	0.55	0.88	0.71		-0.01	0.94	0.74	HDIV
SMAX	0.16	-0.2	-0.49	-0.44	0.07	0.43	-0.01		0.0	-0.35	SMAX
XHY	0.86	0.93	0.59	0.56	0.91	0.72	0.94	0.0		0.74	XHY
CIF	0.72	0.88	0.86	0.93	0.75	0.23	0.74	-0.35	0.74		CIF
	WSRI	VEF	PDC	UMAX	VGH	QAH	HDIV	SMAX	XHY	CIF

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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	+ 0.94	VEF
XHY	+ 0.94	HDIV
XHY	+ 0.93	VEF
CIF	+ 0.93	UMAX
XHY	+ 0.91	VGH
VGH	+ 0.88	VEF

High negative correlations

SMAX	- 0.49	PDC
SMAX	- 0.44	UMAX
CIF	- 0.35	SMAX
SMAX	- 0.2	VEF
SMAX	- 0.01	HDIV
XHY	- 0.0	SMAX

Wealthsimple Developed Constituents Risk-Adjusted Indicators

There is a big difference between Wealthsimple Etf performing well and Wealthsimple Developed 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 Wealthsimple Developed'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WSRI	0.48	0.06	0.04	0.27	0.33	(0.58)	1.11	(0.72)	3.21
VEF	0.46	0.17	0.18	0.42	0.36	(0.51)	1.19	(0.86)	3.31
PDC	0.41	0.10	0.06	0.68	0.61	(0.43)	0.90	(0.71)	3.95
UMAX	0.33	0.09	0.04	(1.11)	0.20	(0.38)	0.70	(0.70)	1.62
VGH	0.51	0.03	0.01	0.11	0.58	(0.52)	1.06	(1.02)	3.36
QAH	0.49	(0.01)	(0.05)	0.05	0.60	(0.53)	1.01	(1.19)	3.77
HDIV	0.60	0.12	0.08	0.29	0.75	(0.65)	1.41	(1.42)	4.38
SMAX	0.49	(0.05)	0.00	(0.02)	0.00	0.00	0.98	(1.17)	3.44
XHY	0.17	0.02	(0.20)	0.29	0.00	(0.22)	0.42	(0.30)	0.91
CIF	0.60	0.17	0.16	0.49	0.47	(0.65)	1.51	(1.23)	3.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Wealthsimple Developed 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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