IShares Core Correlations

XIC Etf

CAD 52.83 0.94 1.81%

The current 90-days correlation between iShares Core SPTSX and iShares SPTSX 60 is 0.98 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Core SPTSX moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Core Correlation With Market

Very poor diversification

The correlation between iShares Core SPTSX and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core SPTSX and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IShares Etf

0.99	XIU	iShares SPTSX 60	Pair Corr
1.0	ZCN	BMO SPTSX Capped	Pair Corr
1.0	VCN	Vanguard FTSE Canada	Pair Corr
0.99	HXT	Global X SPTSX	Pair Corr
1.0	HXCN	Global X SPTSX	Pair Corr
1.0	QCN	Mackenzie Canadian Equity	Pair Corr
0.97	WXM	First Asset Morningstar	Pair Corr
1.0	TTP	TD Canadian Equity	Pair Corr
0.8	XSP	iShares Core SP	Pair Corr
0.91	ZEB	BMO SPTSX Equal	Pair Corr
0.94	NMNG	Ninepoint Mining Evo	Pair Corr
0.62	HPF	Harvest Energy Leaders	Pair Corr
0.86	CPD	iShares SPTSX Canadian	Pair Corr
0.85	TCLV	TD Q Canadian	Pair Corr
0.91	ZDM	BMO MSCI EAFE	Pair Corr
0.88	NHYB	NBI High Yield	Pair Corr
0.86	CALL	Evolve Banks Enhanced	Pair Corr
0.91	XEU	iShares MSCI Europe	Pair Corr
0.61	CTMB	CI Target 2029	Pair Corr
0.88	DXBG	Dynamic Global Fixed	Pair Corr
0.94	HXU	BetaPro SP TSX	Pair Corr
0.88	BANK	Evolve Canadian Banks	Pair Corr
0.86	GDV	Global Dividend Growth	Pair Corr
1.0	XEN	iShares Jantzi Social	Pair Corr
0.83	UDIV	Manulife Smart Dividend	Pair Corr
0.95	ATSX	Accelerate Canadian Long	Pair Corr

Moving against IShares Etf

0.66	NSCE	NBI Sustainable Canadian	Pair Corr
0.47	TCLB	TD Canadian Long	Pair Corr

Related Correlations Analysis

	XIU	XEF	ZSP	VUN	VCN	XSP	VFV	XEQT	HXT	VEQT
XIU		0.85	0.39	0.51	0.99	0.82	0.4	0.94	1.0	0.95	XIU
XEF	0.85		0.26	0.36	0.88	0.68	0.26	0.93	0.85	0.92	XEF
ZSP	0.39	0.26		0.98	0.35	0.67	1.0	0.52	0.39	0.53	ZSP
VUN	0.51	0.36	0.98		0.48	0.72	0.99	0.63	0.51	0.64	VUN
VCN	0.99	0.88	0.35	0.48		0.81	0.36	0.95	0.99	0.95	VCN
XSP	0.82	0.68	0.67	0.72	0.81		0.67	0.84	0.82	0.84	XSP
VFV	0.4	0.26	1.0	0.99	0.36	0.67		0.53	0.4	0.54	VFV
XEQT	0.94	0.93	0.52	0.63	0.95	0.84	0.53		0.94	1.0	XEQT
HXT	1.0	0.85	0.39	0.51	0.99	0.82	0.4	0.94		0.94	HXT
VEQT	0.95	0.92	0.53	0.64	0.95	0.84	0.54	1.0	0.94		VEQT
	XIU	XEF	ZSP	VUN	VCN	XSP	VFV	XEQT	HXT	VEQT

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IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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
XIU	0.59	0.08	0.04	0.25	0.78	(0.61)	1.20	(1.42)	4.02
XEF	0.52	0.08	0.06	0.24	0.54	(0.51)	1.36	(1.10)	2.63
ZSP	0.54	(0.08)	0.00	(0.10)	0.00	0.00	1.05	(1.26)	3.17
VUN	0.58	(0.07)	0.00	(0.08)	0.00	0.00	1.08	(1.24)	3.42
VCN	0.66	0.09	0.06	0.26	0.94	(0.67)	1.40	(1.57)	4.61
XSP	0.54	(0.05)	0.00	(0.03)	0.00	0.00	0.95	(1.52)	3.50
VFV	0.55	(0.08)	0.00	(0.10)	0.00	0.00	1.02	(1.27)	3.11
XEQT	0.54	0.02	(0.02)	0.10	0.63	(0.55)	1.00	(1.21)	3.12
HXT	0.59	0.08	0.04	0.25	0.78	(0.61)	1.18	(1.41)	4.05
VEQT	0.54	0.02	(0.02)	0.09	0.62	(0.59)	0.97	(1.23)	3.07

Be your own money manager

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