BMO Put Correlations

ZPW Etf

CAD 15.14 0.01 0.07%

The current 90-days correlation between BMO Put Write and CIBC International Equity is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BMO Put moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Put Write moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BMO Put Correlation With Market

Very good diversification

The correlation between BMO Put Write and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BMO Put Write and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BMO Put 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 Put 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 Put - 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 Put Write to buy it.

Moving together with BMO Etf

0.69

PAYF

Purpose Enhanced Premium

Pair Corr

Moving against BMO Etf

0.66	XEG	iShares SPTSX Capped	Pair Corr
0.63	DXN	Dynamic Active Global	Pair Corr
0.61	ZGI	BMO Global Infrastructure	Pair Corr
0.5	HBU	BetaPro Gold Bullion	Pair Corr
0.45	PRA	Purpose Diversified Real	Pair Corr
0.41	XSH	iShares Core Canadian	Pair Corr
0.41	CTMB	CI Target 2029	Pair Corr
0.39	XSB	iShares Canadian Short	Pair Corr
0.38	NMNG	Ninepoint Mining Evo	Pair Corr
0.37	XSTB	iShares ESG Aware	Pair Corr
0.34	HGGG	Harvest Global Gold	Pair Corr
0.33	ZJG	BMO Junior Gold	Pair Corr
0.32	ZGD	BMO Equal Weight	Pair Corr
0.32	RAAA	Corton Enhanced Income	Pair Corr
0.74	ZEO	BMO Equal Weight	Pair Corr
0.67	NXF	First Asset Energy	Pair Corr
0.67	SHPD	SavvyShort Shopify ETF	Pair Corr
0.65	ZWU	BMO Covered Call	Pair Corr
0.65	HPF	Harvest Energy Leaders	Pair Corr
0.62	XDUH	iShares Core MSCI	Pair Corr
0.55	ZUD	BMO Dividend Hedged	Pair Corr
0.49	GDV	Global Dividend Growth	Pair Corr

Related Correlations Analysis

	NVHE	ZFC	TILV	QXM	VVSG	PR	HXEM	XDUH	ZLH	CINT
NVHE		0.23	0.16	0.12	0.01	0.2	0.42	-0.04	0.11	0.43	NVHE
ZFC	0.23		0.72	0.92	0.89	0.87	0.85	0.72	0.71	0.7	ZFC
TILV	0.16	0.72		0.63	0.82	0.77	0.87	0.92	0.97	0.37	TILV
QXM	0.12	0.92	0.63		0.88	0.87	0.74	0.64	0.59	0.7	QXM
VVSG	0.01	0.89	0.82	0.88		0.88	0.79	0.86	0.81	0.45	VVSG
PR	0.2	0.87	0.77	0.87	0.88		0.82	0.74	0.72	0.59	PR
HXEM	0.42	0.85	0.87	0.74	0.79	0.82		0.73	0.82	0.69	HXEM
XDUH	-0.04	0.72	0.92	0.64	0.86	0.74	0.73		0.94	0.26	XDUH
ZLH	0.11	0.71	0.97	0.59	0.81	0.72	0.82	0.94		0.29	ZLH
CINT	0.43	0.7	0.37	0.7	0.45	0.59	0.69	0.26	0.29		CINT
	NVHE	ZFC	TILV	QXM	VVSG	PR	HXEM	XDUH	ZLH	CINT

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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

ZLH	+ 0.97	TILV
ZLH	+ 0.94	XDUH
QXM	+ 0.92	ZFC
XDUH	+ 0.92	TILV
VVSG	+ 0.89	ZFC
VVSG	+ 0.88	QXM

High negative correlations

XDUH

- 0.04

NVHE

BMO Put Constituents Risk-Adjusted Indicators

There is a big difference between BMO Etf performing well and BMO Put 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 Put'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
NVHE	1.73	(0.12)	0.00	(0.09)	0.00	0.00	3.57	(3.64)	10.12
ZFC	0.75	0.09	0.04	0.24	1.39	(0.80)	1.69	(1.77)	10.10
TILV	0.41	0.12	0.13	1.04	0.24	(0.47)	0.95	(0.68)	2.68
QXM	0.64	0.11	0.09	0.28	0.64	(0.69)	1.45	(1.15)	3.83
VVSG	0.02	0.00	(1.64)	0.00	0.00	(0.02)	0.04	(0.02)	0.12
PR	0.19	0.01	(0.16)	0.37	0.16	(0.24)	0.39	(0.39)	1.17
HXEM	0.66	0.09	0.06	0.28	0.65	(0.73)	1.56	(1.10)	5.16
XDUH	0.55	0.10	0.07	0.38	0.57	(0.63)	1.28	(1.01)	4.03
ZLH	0.40	0.10	0.10	0.60	0.26	(0.44)	0.85	(0.79)	2.09
CINT	0.68	(0.04)	(0.07)	(0.02)	0.98	(0.63)	1.12	(1.65)	3.71

Be your own money manager

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