Wealthsimple Developed Correlations

WSRD Etf

CAD 34.28 0.14 0.41%

The current 90-days correlation between Wealthsimple Developed and iShares Global Infrastructure is 0.41 (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

Poor diversification

The correlation between Wealthsimple Developed Markets and DJI is 0.77 (i.e., 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

0.9	XEF	iShares Core MSCI	Pair Corr
0.9	ZEA	BMO MSCI EAFE	Pair Corr
0.87	VIU	Vanguard FTSE Developed	Pair Corr
0.85	XIN	iShares MSCI EAFE	Pair Corr
0.85	XFH	iShares Core MSCI	Pair Corr
0.85	ZDM	BMO MSCI EAFE	Pair Corr
0.61	ZLI	BMO Low Volatility	Pair Corr
0.86	VDU	Vanguard FTSE Developed	Pair Corr
0.83	VEF	Vanguard FTSE Developed	Pair Corr
0.62	HGU	BetaPro Canadian Gold	Pair Corr
0.65	HZU	BetaPro Silver 2x	Pair Corr
0.63	HURA	Global X Uranium	Pair Corr
0.62	ZGD	BMO Equal Weight	Pair Corr
0.64	ZJG	BMO Junior Gold	Pair Corr
0.64	MNS	Royal Canadian Mint	Pair Corr

Related Correlations Analysis

	WSRI	VEF	PDC	UMAX	VGH	QAH	HDIV	SMAX	XHY	CIF
WSRI		0.86	0.83	0.29	0.88	0.57	0.89	0.07	0.83	0.35	WSRI
VEF	0.86		0.94	0.16	0.85	0.72	0.94	0.05	0.92	0.49	VEF
PDC	0.83	0.94		0.26	0.81	0.57	0.97	-0.18	0.86	0.37	PDC
UMAX	0.29	0.16	0.26		0.16	-0.02	0.18	0.1	0.14	0.47	UMAX
VGH	0.88	0.85	0.81	0.16		0.82	0.89	0.16	0.91	0.32	VGH
QAH	0.57	0.72	0.57	-0.02	0.82		0.65	0.43	0.81	0.36	QAH
HDIV	0.89	0.94	0.97	0.18	0.89	0.65		-0.12	0.89	0.31	HDIV
SMAX	0.07	0.05	-0.18	0.1	0.16	0.43	-0.12		0.08	0.38	SMAX
XHY	0.83	0.92	0.86	0.14	0.91	0.81	0.89	0.08		0.42	XHY
CIF	0.35	0.49	0.37	0.47	0.32	0.36	0.31	0.38	0.42		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	+ 0.97	PDC
PDC	+ 0.94	VEF
HDIV	+ 0.94	VEF
XHY	+ 0.92	VEF
XHY	+ 0.91	VGH
HDIV	+ 0.89	WSRI

High negative correlations

SMAX	- 0.18	PDC
SMAX	- 0.12	HDIV
QAH	- 0.02	UMAX

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	0.01	(0.06)	0.09	0.56	(0.53)	1.11	(0.95)	3.20
VEF	0.47	0.09	0.05	0.34	0.59	(0.46)	1.19	(0.97)	3.32
PDC	0.34	0.08	0.04	1.66	0.30	(0.37)	0.68	(0.71)	2.12
UMAX	0.32	(0.01)	(0.14)	(0.31)	0.46	(0.31)	0.61	(0.77)	1.68
VGH	0.53	0.00	(0.06)	0.07	0.62	(0.57)	0.98	(1.02)	2.96
QAH	0.56	(0.01)	(0.05)	0.05	0.74	(0.58)	1.13	(1.24)	4.76
HDIV	0.51	0.11	0.09	0.46	0.46	(0.58)	1.14	(1.02)	3.18
SMAX	0.53	(0.06)	0.00	(0.08)	0.00	0.00	0.97	(1.24)	3.41
XHY	0.17	0.00	(0.30)	0.05	0.13	(0.21)	0.31	(0.30)	0.73
CIF	0.60	0.05	0.00	0.26	0.83	(0.58)	1.32	(1.50)	4.06

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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