CIBC Core Correlations

CCRE Etf

CAD 18.05 0.01 0.06%

The current 90-days correlation between CIBC Core Fixed and Wealthsimple Developed Markets is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CIBC Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CIBC Core Fixed moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CIBC Core Correlation With Market

Very weak diversification

The correlation between CIBC Core Fixed and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CIBC Core Fixed and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CIBC 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 CIBC 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 CIBC 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 CIBC Core Fixed to buy it.

Moving together with CIBC Etf

0.69	PTB	Invesco ESG Canadian	Pair Corr
0.96	CCNS	CIBC Conservative Fixed	Pair Corr
0.9	FLCP	Franklin Canadian Core	Pair Corr
0.73	HGU	BetaPro Canadian Gold	Pair Corr
0.89	HEU	BetaPro SP TSX	Pair Corr
0.78	ZGD	BMO Equal Weight	Pair Corr
0.79	ZJG	BMO Junior Gold	Pair Corr
0.75	HBU	BetaPro Gold Bullion	Pair Corr
0.9	HXE	Global X SPTSX	Pair Corr
0.78	HGGG	Harvest Global Gold	Pair Corr
0.91	XEG	iShares SPTSX Capped	Pair Corr
0.62	HURA	Global X Uranium	Pair Corr
0.76	PINV	Purpose Global Innovators	Pair Corr
0.87	RPDH	RBC Quant European	Pair Corr
0.77	VCN	Vanguard FTSE Canada	Pair Corr
0.71	FHH-F	First Trust AlphaDEX	Pair Corr
0.82	WSRD	Wealthsimple Developed	Pair Corr
0.77	RQP	RBC Target 2027	Pair Corr
0.94	CORE	PIMCO Canadian Core	Pair Corr
0.89	TGFI	TD Active Global	Pair Corr
0.86	OILU	SavvyLong Geared Crude	Pair Corr
0.89	PINC	Purpose Multi Asset	Pair Corr
0.86	DXCP	Dynamic Short Term	Pair Corr
0.74	XRE	iShares SPTSX Capped	Pair Corr
0.97	VCB	Vanguard Canadian	Pair Corr
0.91	XDG	iShares Core MSCI	Pair Corr
0.95	XINC	iShares Core Income	Pair Corr
0.89	CYH	iShares Global Monthly	Pair Corr
0.89	XMM	iShares MSCI Min	Pair Corr
0.88	FMAE	Fidelity Multi Alt	Pair Corr
0.88	PDIV	Purpose Enhanced Dividend	Pair Corr
0.97	VSB	Vanguard Canadian Short	Pair Corr
0.81	GBUL	Ninepoint Gold Bullion	Pair Corr

Related Correlations Analysis

	CCRE	FLCP	THE	RPF	PFIN	MTBA	XFN	WSRD
CCRE		0.9	0.85	0.71	0.6	0.81	0.4	0.82	CCRE
FLCP	0.9		0.64	0.45	0.33	0.61	0.17	0.69	FLCP
THE	0.85	0.64		0.93	0.78	0.94	0.78	0.94	THE
RPF	0.71	0.45	0.93		0.75	0.91	0.86	0.85	RPF
PFIN	0.6	0.33	0.78	0.75		0.66	0.59	0.62	PFIN
MTBA	0.81	0.61	0.94	0.91	0.66		0.73	0.86	MTBA
XFN	0.4	0.17	0.78	0.86	0.59	0.73		0.76	XFN
WSRD	0.82	0.69	0.94	0.85	0.62	0.86	0.76		WSRD
	CCRE	FLCP	THE	RPF	PFIN	MTBA	XFN	WSRD

CIBC Core Constituents Risk-Adjusted Indicators

There is a big difference between CIBC Etf performing well and CIBC 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 CIBC 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
CCRE	0.13	0.01	(0.40)	0.36	0.00	(0.17)	0.28	(0.22)	0.78
FLCP	0.18	0.00	(0.23)	0.13	0.25	(0.18)	0.39	(0.39)	1.12
THE	0.48	0.14	0.17	0.34	0.18	(0.54)	1.18	(0.77)	2.96
RPF	0.17	0.07	(0.01)	1.42	0.00	(0.21)	0.45	(0.29)	1.28
PFIN	0.13	0.00	(0.39)	0.17	0.11	(0.20)	0.30	(0.30)	0.80
MTBA	0.04	0.01	0.00	(0.83)	0.00	0.00	0.20	0.00	0.55
XFN	0.58	0.06	0.02	0.19	0.69	(0.60)	1.41	(1.29)	3.13
WSRD	0.47	0.04	(0.01)	0.18	0.38	(0.57)	1.19	(0.78)	2.97

Be your own money manager

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