IShares SPTSX Correlations

XST Etf

CAD 66.06 0.50 0.75%

The current 90-days correlation between iShares SPTSX Capped and First Asset Morningstar is 0.17 (i.e., Average 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 Capped moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares SPTSX Correlation With Market

Weak diversification

The correlation between iShares SPTSX Capped and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SPTSX Capped 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 Capped to buy it.

Moving together with IShares Etf

0.8	ZWU	BMO Covered Call	Pair Corr
0.81	ZUT	BMO Equal Weight	Pair Corr
0.75	CWW	iShares Global Water	Pair Corr
0.69	COW	iShares Global Agric	Pair Corr
0.66	VSC	Vanguard Canadian Short	Pair Corr
0.62	TGFI	TD Active Global	Pair Corr
0.76	XDV	iShares Canadian Select	Pair Corr
0.62	QDX	Mackenzie International	Pair Corr
0.73	CYH	iShares Global Monthly	Pair Corr
0.68	XSI	iShares Short Term	Pair Corr
0.8	XDG	iShares Core MSCI	Pair Corr
0.72	RID	RBC Quant EAFE	Pair Corr
0.74	HXE	Global X SPTSX	Pair Corr
0.73	HXH	Global X Canadian	Pair Corr
0.68	PINC	Purpose Multi Asset	Pair Corr
0.71	VCB	Vanguard Canadian	Pair Corr

Moving against IShares Etf

0.8	TXF	First Asset Tech	Pair Corr
0.79	TEC	TD Global Technology	Pair Corr
0.72	CYBR	Evolve Cyber Security	Pair Corr
0.69	XIT	iShares SPTSX Capped	Pair Corr
0.45	HZU	BetaPro Silver 2x	Pair Corr
0.44	HMMJ	Global X Marijuana	Pair Corr

Related Correlations Analysis

	XUT	XMA	XMV	EMAX	AMAX	ZFN	XSEA	QBTL	VRIF	VXM
XUT		0.4	0.57	0.73	0.35	-0.63	0.44	0.06	0.52	0.55	XUT
XMA	0.4		0.9	0.78	0.99	0.2	0.9	-0.63	0.92	0.9	XMA
XMV	0.57	0.9		0.81	0.88	0.04	0.87	-0.58	0.92	0.91	XMV
EMAX	0.73	0.78	0.81		0.72	-0.21	0.85	-0.38	0.87	0.89	EMAX
AMAX	0.35	0.99	0.88	0.72		0.25	0.86	-0.64	0.89	0.85	AMAX
ZFN	-0.63	0.2	0.04	-0.21	0.25		0.15	-0.52	0.13	-0.02	ZFN
XSEA	0.44	0.9	0.87	0.85	0.86	0.15		-0.65	0.98	0.97	XSEA
QBTL	0.06	-0.63	-0.58	-0.38	-0.64	-0.52	-0.65		-0.61	-0.57	QBTL
VRIF	0.52	0.92	0.92	0.87	0.89	0.13	0.98	-0.61		0.96	VRIF
VXM	0.55	0.9	0.91	0.89	0.85	-0.02	0.97	-0.57	0.96		VXM
	XUT	XMA	XMV	EMAX	AMAX	ZFN	XSEA	QBTL	VRIF	VXM

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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

AMAX	+ 0.99	XMA
VRIF	+ 0.98	XSEA
VXM	+ 0.97	XSEA
VXM	+ 0.96	VRIF
VRIF	+ 0.92	XMA
VRIF	+ 0.92	XMV

High negative correlations

QBTL	- 0.65	XSEA
QBTL	- 0.64	AMAX
QBTL	- 0.63	XMA
ZFN	- 0.63	XUT
VRIF	- 0.61	QBTL
QBTL	- 0.58	XMV

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
XUT	0.42	0.06	0.03	(0.33)	0.67	(0.45)	0.89	(0.59)	4.15
XMA	1.81	0.37	0.10	0.41	2.97	(1.74)	3.86	(5.86)	13.90
XMV	0.41	0.08	0.08	0.30	0.42	(0.44)	0.92	(0.84)	2.54
EMAX	0.93	0.22	0.17	2.70	0.81	(1.07)	2.29	(1.23)	4.83
AMAX	1.90	0.28	0.08	0.28	3.20	(1.92)	4.26	(5.97)	15.28
ZFN	0.78	(0.06)	0.00	(0.03)	0.00	0.00	1.74	(1.90)	5.20
XSEA	0.53	0.04	0.03	0.12	0.78	(0.54)	1.25	(1.12)	3.56
QBTL	0.88	(0.01)	0.00	0.05	0.00	0.00	2.27	(1.69)	6.53
VRIF	0.20	0.01	(0.06)	0.08	0.23	(0.21)	0.41	(0.48)	1.28
VXM	0.55	0.16	0.20	0.40	0.44	(0.64)	1.21	(0.86)	3.33

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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