IShares SPTSX Correlations

Etfs . Canada . 
Etf . iShares SPTSX Canadian
CPD Etf  CAD 13.86  0.01  0.07%   
The current 90-days correlation between iShares SPTSX Canadian and iShares Canadian Real is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares SPTSX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares SPTSX Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares SPTSX Correlation With Market

Very weak diversification

The correlation between iShares SPTSX Canadian and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SPTSX Canadian and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares SPTSX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares SPTSX 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 IShares SPTSX - 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 iShares SPTSX Canadian to buy it.

Moving together with IShares Etf

  0.95ZPR BMO Laddered PreferredPairCorr
  0.97HPR Global X ActivePairCorr
  0.94RPF RBC Canadian PreferredPairCorr
  0.93DXP Dynamic Active PreferredPairCorr
  0.96DIVS Evolve Active CanadianPairCorr
  0.77XPF iShares SPTSX NorthPairCorr
  0.86PR Lysander Slater PrefPairCorr
  0.9HFP Global X ActivePairCorr
  0.9FPR CI Preferred SharePairCorr
  0.78HGU BetaPro Canadian GoldPairCorr
  0.82ZGD BMO Equal WeightPairCorr
  0.82ZJG BMO Junior GoldPairCorr
  0.8HGGG Harvest Global GoldPairCorr
  0.67HBU BetaPro Gold BullionPairCorr
  0.7XEG iShares SPTSX CappedPairCorr
  0.65MGB Mackenzie Core PlusPairCorr
  0.94DCP Desjardins CanadianPairCorr
  0.65HFIN Hamilton EnhancedPairCorr
  0.75XEC iShares Core MSCIPairCorr
  0.71NTGD NBI Target 2029PairCorr
  0.78XHB iShares Canadian HYBridPairCorr
  0.79CTMA CI Target 2028PairCorr
  0.63HOG Global X PipelinesPairCorr
  0.84ISIF IA Clarington StrategicPairCorr
  0.81XBAL iShares Core BalancedPairCorr
  0.74XEM iShares MSCI EmergingPairCorr
  0.73CIEM CI Emerging MarketsPairCorr
  0.78HAF Global X ActivePairCorr
  0.74PID Purpose InternationalPairCorr
  0.72HPF Harvest Energy LeadersPairCorr
  0.83NBND Ninepoint DiversifiedPairCorr
  0.7ZDB BMO Discount BondPairCorr
  0.78TERM Manulife Smart ShortPairCorr
  0.63XMM iShares MSCI MinPairCorr

Related Correlations Analysis


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

ZEO
+ 1.0
ENCL
MINT
+ 0.95
XEM
TINF
+ 0.94
ENCL
ZEO
+ 0.94
TINF
MINT
+ 0.91
TINF
TINF
+ 0.89
ZSU
  

High negative correlations

RUD
- 0.3
ENCL
ZEO
- 0.27
RUD
XEM
- 0.23
RUD
TINF
- 0.2
RUD
MINT
- 0.17
RUD
DRFC
- 0.16
RUD

IShares SPTSX Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SPTSX 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 IShares SPTSX'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ZSU  0.10  0.00 (0.03)(0.37) 0.09 
(0.15)
 0.23 
(0.23)
 0.75 
ENCL  0.97  0.21  0.16 (2.54) 1.10 
(1.08)
 2.06 
(2.05)
 5.69 
RUD  0.65 (0.04) 0.00 (0.05) 0.00 
 0.00 
 1.03 
(1.24)
 3.76 
XEM  0.81  0.05  0.04  0.07  1.14 
(0.85)
 1.81 
(1.40)
 7.88 
TINF  0.45  0.08  0.12  0.39  0.52 
(0.46)
 0.93 
(0.96)
 3.14 
ZEO  0.92  0.21  0.19 (4.69) 0.92 
(1.06)
 1.93 
(1.60)
 4.42 
DRFC  0.93  0.10  0.05  0.16  2.01 
(0.87)
 1.49 
(2.14)
 12.87 
MINT  0.49  0.07  0.08  0.16  0.68 
(0.50)
 0.96 
(1.09)
 4.14 
XDU  0.60  0.01  0.01  0.01  0.96 
(0.57)
 1.14 
(1.29)
 4.53 
XRB  0.30  0.00  0.00  0.00  0.00 
 0.00 
 0.53 
(0.60)
 1.63 

Be your own money manager

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