BMO Low Correlations

ZLE Etf

CAD 22.24 0.15 0.68%

The current 90-days correlation between BMO Low Volatility and BMO Low Volatility is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BMO Low moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Low Volatility moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BMO Low Correlation With Market

Modest diversification

The correlation between BMO Low Volatility and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BMO Low Volatility and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BMO Low 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 Low 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 Low - 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 Low Volatility to buy it.

Moving together with BMO Etf

0.64	VEE	Vanguard FTSE Emerging	Pair Corr
0.84	ZEM	BMO MSCI Emerging	Pair Corr
0.82	XEC	iShares Core MSCI	Pair Corr
0.83	XEM	iShares MSCI Emerging	Pair Corr
0.83	HXEM	Global X Emerging	Pair Corr
0.82	XMM	iShares MSCI Min	Pair Corr
0.61	CGRA	CI Global Real	Pair Corr

Moving against BMO Etf

0.33

HEP

Global X Enhanced

Pair Corr

Related Correlations Analysis

	ZLH	MUMC	FCQH	COMM	RIDH	BEPR	ZCON	XSE	XSMC	XSMH
ZLH		0.03	0.1	0.04	-0.17	-0.11	-0.04	0.16	0.13	0.15	ZLH
MUMC	0.03		0.65	-0.29	0.58	0.42	0.19	-0.38	0.51	0.69	MUMC
FCQH	0.1	0.65		0.21	0.32	0.56	0.51	0.05	0.73	0.77	FCQH
COMM	0.04	-0.29	0.21		-0.71	-0.1	0.19	0.72	-0.11	-0.26	COMM
RIDH	-0.17	0.58	0.32	-0.71		0.49	0.39	-0.47	0.48	0.59	RIDH
BEPR	-0.11	0.42	0.56	-0.1	0.49		0.41	-0.08	0.6	0.65	BEPR
ZCON	-0.04	0.19	0.51	0.19	0.39	0.41		0.52	0.57	0.42	ZCON
XSE	0.16	-0.38	0.05	0.72	-0.47	-0.08	0.52		0.01	-0.21	XSE
XSMC	0.13	0.51	0.73	-0.11	0.48	0.6	0.57	0.01		0.94	XSMC
XSMH	0.15	0.69	0.77	-0.26	0.59	0.65	0.42	-0.21	0.94		XSMH
	ZLH	MUMC	FCQH	COMM	RIDH	BEPR	ZCON	XSE	XSMC	XSMH

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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

XSMH	+ 0.94	XSMC
XSMH	+ 0.77	FCQH
XSMC	+ 0.73	FCQH
XSE	+ 0.72	COMM
XSMH	+ 0.69	MUMC
FCQH	+ 0.65	MUMC

High negative correlations

RIDH	- 0.71	COMM
XSE	- 0.47	RIDH
XSE	- 0.38	MUMC
COMM	- 0.29	MUMC
XSMH	- 0.26	COMM
XSMH	- 0.21	XSE

BMO Low Constituents Risk-Adjusted Indicators

There is a big difference between BMO Etf performing well and BMO Low 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 Low'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
ZLH	0.40	(0.04)	0.00	(0.17)	0.00	0.00	0.81	(0.90)	2.62
MUMC	0.79	0.01	(0.05)	0.24	1.07	(0.82)	1.80	(1.86)	5.55
FCQH	0.45	(0.04)	0.00	(0.03)	0.00	0.00	1.09	(1.22)	3.48
COMM	0.51	(0.07)	0.00	(0.18)	0.00	0.00	1.40	(1.18)	3.98
RIDH	0.43	0.15	0.16	0.84	0.19	(0.55)	1.15	(0.75)	2.48
BEPR	0.33	0.01	(0.10)	0.14	0.35	(0.45)	0.80	(0.79)	2.29
ZCON	0.30	0.00	(0.14)	0.07	0.33	(0.32)	0.64	(0.64)	1.59
XSE	0.13	(0.02)	0.00	(0.15)	0.00	0.00	0.23	(0.28)	0.84
XSMC	0.88	(0.03)	(0.03)	0.04	1.04	(0.96)	1.92	(1.50)	5.93
XSMH	0.89	(0.02)	(0.02)	0.05	1.06	(1.04)	1.97	(1.81)	5.76

Be your own money manager

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