BMO International Correlations

ZDH Etf

CAD 26.83 0.18 0.67%

The current 90-days correlation between BMO International and BMO Short Term Bond is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BMO International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO International Dividend moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BMO International Correlation With Market

Significant diversification

The correlation between BMO International Dividend and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BMO International Dividend and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BMO Etf

0.84	XEF	iShares Core MSCI	Pair Corr
0.84	ZEA	BMO MSCI EAFE	Pair Corr
0.82	VIU	Vanguard FTSE Developed	Pair Corr
0.91	XIN	iShares MSCI EAFE	Pair Corr
0.88	XFH	iShares Core MSCI	Pair Corr
0.9	ZDM	BMO MSCI EAFE	Pair Corr
0.76	WSRD	Wealthsimple Developed	Pair Corr
0.87	VDU	Vanguard FTSE Developed	Pair Corr
0.8	VEF	Vanguard FTSE Developed	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	-0.01	0.59	0.02	0.66	0.28	-0.55	0.71	META
MSFT	0.28		0.24	0.11	0.18	-0.01	0.01	-0.17	0.12	-0.19	MSFT
UBER	0.56	0.24		-0.03	0.0	0.26	0.03	-0.11	0.05	0.36	UBER
F	-0.01	0.11	-0.03		0.06	-0.38	0.4	0.65	-0.28	0.3	F
T	0.59	0.18	0.0	0.06		-0.5	0.75	0.52	-0.77	0.38	T
A	0.02	-0.01	0.26	-0.38	-0.5		-0.48	-0.64	0.64	-0.01	A
CRM	0.66	0.01	0.03	0.4	0.75	-0.48		0.84	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.11	0.65	0.52	-0.64	0.84		-0.83	0.51	JPM
MRK	-0.55	0.12	0.05	-0.28	-0.77	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.36	0.3	0.38	-0.01	0.68	0.51	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.84	CRM
CRM	+ 0.75	T
XOM	+ 0.71	META
XOM	+ 0.68	CRM
CRM	+ 0.66	META
JPM	+ 0.65	F

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.77	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.55	META

BMO International Constituents Risk-Adjusted Indicators

There is a big difference between BMO Etf performing well and BMO International 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 BMO International'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
META	1.06	0.02	(0.01)	0.15	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.83)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.25	(1.79)	2.69	(2.44)	20.10
F	1.41	(0.13)	(0.03)	0.03	2.20	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.13	(10.00)	0.86	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.26	0.21	0.35	0.91	(1.51)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.88	(0.24)	0.00	(0.81)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.03	0.00	(0.04)	0.12	1.25	(1.10)	2.14	(2.09)	5.78

Be your own money manager

Our tools can tell you how much better you can do entering a position in BMO International 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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