IShares Floating Correlations

XFR Etf

CAD 20.04 0.01 0.05%

The current 90-days correlation between iShares Floating Rate and BMO Emerging Markets is -0.15 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Floating moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Floating Rate moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Floating Correlation With Market

Very poor diversification

The correlation between iShares Floating Rate and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IShares Etf

0.76	XSH	iShares Core Canadian	Pair Corr
0.75	ZCS	BMO Short Corporate	Pair Corr
0.91	ZUB	BMO Equal Weight	Pair Corr
0.89	ZBK	BMO Equal Weight	Pair Corr
0.91	CALL	Evolve Banks Enhanced	Pair Corr
0.9	ZWK	BMO Covered Call	Pair Corr
0.89	CALL-B	Evolve Banks Enhanced	Pair Corr

Moving against IShares Etf

0.69	ZST	BMO Ultra Short	Pair Corr
0.53	CBCX	CI Galaxy Blockchain	Pair Corr
0.52	HBLK	Blockchain Technologies	Pair Corr

Related Correlations Analysis

	QMAX	ZWE	HCAL	WXM	CLG	TXF	ZBK	DGRC	ZDY	ZEF
QMAX		-0.57	-0.48	-0.61	-0.24	0.1	-0.55	-0.56	0.36	-0.52	QMAX
ZWE	-0.57		0.9	0.93	0.07	0.64	0.91	0.85	-0.56	0.73	ZWE
HCAL	-0.48	0.9		0.91	-0.28	0.65	0.96	0.84	-0.47	0.64	HCAL
WXM	-0.61	0.93	0.91		0.0	0.63	0.88	0.96	-0.49	0.69	WXM
CLG	-0.24	0.07	-0.28	0.0		-0.24	-0.17	0.03	0.06	0.23	CLG
TXF	0.1	0.64	0.65	0.63	-0.24		0.56	0.56	-0.43	0.37	TXF
ZBK	-0.55	0.91	0.96	0.88	-0.17	0.56		0.78	-0.42	0.66	ZBK
DGRC	-0.56	0.85	0.84	0.96	0.03	0.56	0.78		-0.43	0.62	DGRC
ZDY	0.36	-0.56	-0.47	-0.49	0.06	-0.43	-0.42	-0.43		-0.26	ZDY
ZEF	-0.52	0.73	0.64	0.69	0.23	0.37	0.66	0.62	-0.26		ZEF
	QMAX	ZWE	HCAL	WXM	CLG	TXF	ZBK	DGRC	ZDY	ZEF

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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

ZBK	+ 0.96	HCAL
DGRC	+ 0.96	WXM
WXM	+ 0.93	ZWE
ZBK	+ 0.91	ZWE
WXM	+ 0.91	HCAL
HCAL	+ 0.9	ZWE

High negative correlations

WXM	- 0.61	QMAX
ZWE	- 0.57	QMAX
ZDY	- 0.56	ZWE
DGRC	- 0.56	QMAX
ZBK	- 0.55	QMAX
ZEF	- 0.52	QMAX

IShares Floating Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Floating 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 IShares Floating'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
QMAX	0.98	(0.30)	0.00	(0.38)	0.00	0.00	2.00	(2.63)	7.60
ZWE	0.44	0.08	0.04	0.29	0.38	(0.51)	1.00	(1.01)	2.68
HCAL	0.67	0.19	0.19	0.55	0.42	(0.83)	1.70	(1.27)	3.87
WXM	0.75	0.21	0.15	0.58	0.75	(0.82)	1.81	(1.48)	5.36
CLG	0.11	(0.01)	(0.39)	(0.15)	0.16	(0.12)	0.23	(0.29)	0.92
TXF	1.08	(0.07)	0.00	(0.02)	0.00	0.00	1.97	(2.41)	7.06
ZBK	0.93	0.24	0.19	0.66	0.79	(1.10)	2.21	(1.39)	5.71
DGRC	0.64	0.12	0.07	0.52	0.79	(0.67)	1.34	(1.11)	4.85
ZDY	0.61	(0.02)	(0.06)	0.03	1.08	(0.57)	1.02	(1.04)	6.08
ZEF	0.26	0.00	(0.19)	0.05	0.27	(0.36)	0.64	(0.56)	1.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Floating 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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