Dynamic Active Correlations

DXG Etf

CAD 75.25 0.86 1.16%

The current 90-days correlation between Dynamic Active Global and iShares Global Infrastructure is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dynamic Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dynamic Active Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dynamic Active Correlation With Market

Weak diversification

The correlation between Dynamic Active Global and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynamic Active Global and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Dynamic Etf

0.8	XEQT	iShares Core Equity	Pair Corr
0.87	XAW	iShares Core MSCI	Pair Corr
0.87	VXC	Vanguard FTSE Global	Pair Corr
0.88	XWD	iShares MSCI World	Pair Corr
0.81	VEQT	Vanguard All Equity	Pair Corr
0.62	CGRA	CI Global Real	Pair Corr
0.82	ZGQ	BMO MSCI All	Pair Corr
0.88	XQQ	iShares NASDAQ 100	Pair Corr
0.91	QQC	Invesco NASDAQ 100	Pair Corr
0.7	ZDJ	BMO Dow Jones	Pair Corr

Moving against Dynamic Etf

0.74

HQD

BetaPro NASDAQ 100

Pair Corr

Related Correlations Analysis

	CIF	SMAX	QMAX	TXF	QAH	XHY	VGH	UMAX	XIT	WSRI
CIF		0.91	0.84	0.68	0.62	0.05	0.33	0.46	0.54	0.29	CIF
SMAX	0.91		0.83	0.79	0.7	0.07	0.48	0.54	0.48	0.48	SMAX
QMAX	0.84	0.83		0.87	0.84	0.3	0.46	0.2	0.75	0.21	QMAX
TXF	0.68	0.79	0.87		0.91	0.43	0.66	0.15	0.61	0.38	TXF
QAH	0.62	0.7	0.84	0.91		0.63	0.8	0.13	0.62	0.47	QAH
XHY	0.05	0.07	0.3	0.43	0.63		0.72	-0.19	0.39	0.42	XHY
VGH	0.33	0.48	0.46	0.66	0.8	0.72		0.23	0.31	0.79	VGH
UMAX	0.46	0.54	0.2	0.15	0.13	-0.19	0.23		-0.08	0.6	UMAX
XIT	0.54	0.48	0.75	0.61	0.62	0.39	0.31	-0.08		-0.02	XIT
WSRI	0.29	0.48	0.21	0.38	0.47	0.42	0.79	0.6	-0.02		WSRI
	CIF	SMAX	QMAX	TXF	QAH	XHY	VGH	UMAX	XIT	WSRI

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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

SMAX	+ 0.91	CIF
QAH	+ 0.91	TXF
TXF	+ 0.87	QMAX
QMAX	+ 0.84	CIF
QAH	+ 0.84	QMAX
QMAX	+ 0.83	SMAX

High negative correlations

UMAX	- 0.19	XHY
XIT	- 0.08	UMAX
WSRI	- 0.02	XIT

Dynamic Active Constituents Risk-Adjusted Indicators

There is a big difference between Dynamic Etf performing well and Dynamic Active 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 Dynamic Active'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
CIF	0.69	(0.01)	(0.04)	0.05	0.92	(0.68)	1.42	(1.64)	4.22
SMAX	0.56	0.02	(0.01)	0.12	0.70	(0.57)	1.39	(1.23)	3.90
QMAX	0.96	(0.01)	(0.02)	0.04	1.45	(0.89)	2.46	(2.17)	5.69
TXF	0.92	0.05	0.02	0.15	1.40	(0.84)	1.66	(2.38)	5.70
QAH	0.58	(0.02)	(0.05)	0.03	0.85	(0.56)	1.16	(1.24)	4.69
XHY	0.18	(0.02)	(0.34)	(0.07)	0.19	(0.22)	0.42	(0.30)	0.90
VGH	0.56	(0.02)	(0.07)	0.03	0.66	(0.60)	1.06	(1.04)	2.79
UMAX	0.29	0.01	(0.12)	0.23	0.39	(0.28)	0.53	(0.75)	1.66
XIT	1.56	(0.09)	0.00	(0.07)	0.00	0.00	2.76	(4.07)	9.80
WSRI	0.45	0.02	(0.03)	0.14	0.51	(0.48)	0.87	(0.74)	3.63

Be your own money manager

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