CI Canadian Correlations

CIC Etf

CAD 14.59 0.04 0.27%

The current 90-days correlation between CI Canadian Banks and RBC Canadian Bank is 0.9 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Canadian Banks moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI Canadian Correlation With Market

Modest diversification

The correlation between CI Canadian Banks and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Canadian Banks and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CIC Etf

1.0	ZEB	BMO SPTSX Equal	Pair Corr
0.99	XFN	iShares SPTSX Capped	Pair Corr
0.98	HCA	Hamilton Canadian Bank	Pair Corr
0.65	ZWK	BMO Covered Call	Pair Corr
0.85	FLI	CI Canada Lifeco	Pair Corr
0.99	CEW	iShares Equal Weight	Pair Corr
0.86	PRP	Purpose Conservative	Pair Corr
0.94	EIT-UN	Canoe EIT Income	Pair Corr
0.99	BNC	Purpose Canadian Fin	Pair Corr
0.87	TCLB	TD Canadian Long	Pair Corr
0.96	CBL	Franklin Core ETF	Pair Corr
0.84	XMC	iShares SP Mid	Pair Corr

Moving against CIC Etf

0.64	HND	BetaPro Natural Gas	Pair Corr
0.38	ETC	Evolve Cryptocurrencies	Pair Corr

Related Correlations Analysis

	RBNK	XTR	QBTL	XMV	AMAX	VXM	EMAX	CEW	HSH	EGIF
RBNK		0.95	-0.89	0.9	0.83	0.87	0.86	0.98	0.9	0.61	RBNK
XTR	0.95		-0.81	0.94	0.9	0.86	0.77	0.95	0.88	0.63	XTR
QBTL	-0.89	-0.81		-0.68	-0.64	-0.84	-0.73	-0.92	-0.94	-0.75	QBTL
XMV	0.9	0.94	-0.68		0.92	0.77	0.75	0.87	0.75	0.41	XMV
AMAX	0.83	0.9	-0.64	0.92		0.64	0.66	0.79	0.69	0.37	AMAX
VXM	0.87	0.86	-0.84	0.77	0.64		0.82	0.91	0.9	0.68	VXM
EMAX	0.86	0.77	-0.73	0.75	0.66	0.82		0.82	0.77	0.41	EMAX
CEW	0.98	0.95	-0.92	0.87	0.79	0.91	0.82		0.94	0.72	CEW
HSH	0.9	0.88	-0.94	0.75	0.69	0.9	0.77	0.94		0.7	HSH
EGIF	0.61	0.63	-0.75	0.41	0.37	0.68	0.41	0.72	0.7		EGIF
	RBNK	XTR	QBTL	XMV	AMAX	VXM	EMAX	CEW	HSH	EGIF

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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

CEW	+ 0.98	RBNK
XTR	+ 0.95	RBNK
CEW	+ 0.95	XTR
XMV	+ 0.94	XTR
HSH	+ 0.94	CEW
AMAX	+ 0.92	XMV

High negative correlations

HSH	- 0.94	QBTL
CEW	- 0.92	QBTL
QBTL	- 0.89	RBNK
VXM	- 0.84	QBTL
QBTL	- 0.81	XTR
EGIF	- 0.75	QBTL

CI Canadian Constituents Risk-Adjusted Indicators

There is a big difference between CIC Etf performing well and CI Canadian 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 CI Canadian'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
RBNK	0.43	0.22	0.22	1.37	0.00	(0.51)	0.95	(0.58)	4.89
XTR	0.17	0.04	(0.21)	(1.88)	0.00	(0.22)	0.43	(0.26)	1.54
QBTL	1.09	(0.15)	0.00	0.42	0.00	0.00	2.63	(2.75)	9.56
XMV	0.36	0.05	(0.07)	0.68	0.37	(0.39)	0.98	(0.71)	3.15
AMAX	1.52	0.27	0.08	0.75	2.30	(1.56)	3.56	(3.84)	13.17
VXM	0.42	0.12	0.01	(0.68)	0.49	(0.44)	0.96	(0.60)	3.86
EMAX	0.83	0.20	0.07	(1.10)	1.02	(0.85)	1.88	(1.56)	5.85
CEW	0.41	0.17	0.18	1.44	0.00	(0.49)	0.85	(0.62)	2.51
HSH	0.48	0.10	0.01	1.18	0.49	(0.54)	1.09	(0.74)	3.80
EGIF	0.25	0.11	0.00	(1.27)	0.00	0.00	0.30	0.00	7.96

Be your own money manager

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