IShares SPTSX Correlations

XGD Etf

CAD 61.96 3.44 5.88%

The current 90-days correlation between iShares SPTSX Global and iShares Canadian Short is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares SPTSX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares SPTSX Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares SPTSX Correlation With Market

Very poor diversification

The correlation between iShares SPTSX Global 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 SPTSX Global and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares SPTSX 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 SPTSX 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 SPTSX - 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 SPTSX Global to buy it.

Moving together with IShares Etf

0.99	ZGD	BMO Equal Weight	Pair Corr
0.99	ZJG	BMO Junior Gold	Pair Corr
0.95	HEP	Global X Enhanced	Pair Corr
0.99	HGGG	Harvest Global Gold	Pair Corr
0.81	RAAA	Corton Enhanced Income	Pair Corr
0.65	XEG	iShares SPTSX Capped	Pair Corr
0.97	HAC	Global X Seasonal	Pair Corr
0.9	EIT-UN	Canoe EIT Income	Pair Corr
0.97	NMNG	Ninepoint Mining Evo	Pair Corr
0.69	XDUH	iShares Core MSCI	Pair Corr
0.84	MINT-B	Manulife Multifactor	Pair Corr
0.88	BMAX	Brompton Enhanced Multi	Pair Corr
0.69	HPF	Harvest Energy Leaders	Pair Corr
0.8	TERM	Manulife Smart Short	Pair Corr
0.74	BANK	Evolve Canadian Banks	Pair Corr
0.94	ATSX	Accelerate Canadian Long	Pair Corr
0.83	ZCON	BMO Conservative ETF	Pair Corr
0.62	XSTB	iShares ESG Aware	Pair Corr
0.77	WSHR	Wealthsimple Shariah	Pair Corr
0.94	DGRC	CI Canada Quality	Pair Corr
0.8	XSH	iShares Core Canadian	Pair Corr
0.75	ZBK	BMO Equal Weight	Pair Corr
0.67	XCNS	iShares Core Conservative	Pair Corr
0.75	TCLV	TD Q Canadian	Pair Corr
0.82	UDIV	Manulife Smart Dividend	Pair Corr
0.9	GDV	Global Dividend Growth	Pair Corr

Moving against IShares Etf

0.89	HXD	BetaPro SPTSX 60	Pair Corr
0.65	HIU	BetaPro SP 500	Pair Corr
0.65	HED	BetaPro SPTSX Capped	Pair Corr
0.63	FHC	First Trust Dow	Pair Corr
0.33	HQD	BetaPro NASDAQ 100	Pair Corr

Related Correlations Analysis

	XEC	XDIV	VEE	VXC	XSB	VCE	TPE	NUBF	QCN	XAW
XEC		0.59	0.97	0.87	0.83	0.75	0.95	0.75	0.8	0.89	XEC
XDIV	0.59		0.45	0.59	0.56	0.81	0.75	0.44	0.82	0.6	XDIV
VEE	0.97	0.45		0.88	0.8	0.68	0.9	0.73	0.72	0.89	VEE
VXC	0.87	0.59	0.88		0.67	0.84	0.9	0.64	0.84	1.0	VXC
XSB	0.83	0.56	0.8	0.67		0.54	0.81	0.82	0.6	0.69	XSB
VCE	0.75	0.81	0.68	0.84	0.54		0.85	0.45	0.99	0.84	VCE
TPE	0.95	0.75	0.9	0.9	0.81	0.85		0.72	0.88	0.91	TPE
NUBF	0.75	0.44	0.73	0.64	0.82	0.45	0.72		0.5	0.65	NUBF
QCN	0.8	0.82	0.72	0.84	0.6	0.99	0.88	0.5		0.85	QCN
XAW	0.89	0.6	0.89	1.0	0.69	0.84	0.91	0.65	0.85		XAW
	XEC	XDIV	VEE	VXC	XSB	VCE	TPE	NUBF	QCN	XAW

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IShares SPTSX Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SPTSX 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 SPTSX'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
XEC	0.61	0.09	0.07	0.28	0.56	(0.68)	1.42	(1.09)	4.63
XDIV	0.35	0.08	0.05	0.67	0.43	(0.39)	0.81	(0.65)	3.16
VEE	0.54	0.02	(0.03)	0.11	0.56	(0.58)	1.11	(1.02)	3.80
VXC	0.51	(0.02)	(0.06)	0.02	0.69	(0.49)	1.09	(1.09)	3.39
XSB	0.07	0.00	(0.45)	(0.03)	0.06	(0.07)	0.15	(0.11)	0.63
VCE	0.63	0.08	0.05	0.26	0.84	(0.68)	1.26	(1.34)	4.26
TPE	0.56	0.08	0.05	0.21	0.65	(0.57)	1.28	(1.18)	3.10
NUBF	0.27	0.01	(0.13)	0.31	0.31	(0.31)	0.80	(0.56)	1.87
QCN	0.65	0.10	0.06	0.26	0.93	(0.66)	1.47	(1.81)	4.64
XAW	0.51	(0.01)	(0.06)	0.03	0.68	(0.54)	1.09	(1.31)	3.29

Be your own money manager

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