Dynamic Active Correlations

DXN Etf

CAD 25.95 0.11 0.42%

The current 90-days correlation between Dynamic Active Global and Mackenzie Global Infrastructure is 0.44 (i.e., Very weak 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

Very weak diversification

The correlation between Dynamic Active Global and DJI is 0.54 (i.e., Very 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

0.97	RIIN	Russell Investments	Pair Corr
0.97	CINF	CI Global Infrastructure	Pair Corr
0.91	ZGI	BMO Global Infrastructure	Pair Corr
0.97	TINF	TD Active Global	Pair Corr
0.93	CIF	iShares Global Infra	Pair Corr
0.93	NREA	NBI Global Real	Pair Corr
0.85	BREA	Brompton Sustainable Real	Pair Corr
0.87	QINF	Mackenzie Global Inf	Pair Corr
0.76	EIT-UN	Canoe EIT Income	Pair Corr
0.93	CGRA	CI Global Real	Pair Corr
0.88	CGR	iShares Global Real	Pair Corr
0.66	PHR	Purpose Real Estate	Pair Corr
0.8	GDV	Global Dividend Growth	Pair Corr
0.64	PR	Lysander Slater Pref	Pair Corr
0.77	MINT-B	Manulife Multifactor	Pair Corr
0.74	ZLC	BMO Long Corporate	Pair Corr
0.69	DXBG	Dynamic Global Fixed	Pair Corr
0.85	XSTB	iShares ESG Aware	Pair Corr
0.62	NMNG	Ninepoint Mining Evo	Pair Corr
0.68	PDIV	Purpose Enhanced Dividend	Pair Corr
0.74	HAZ	Global X Active	Pair Corr
0.67	BMAX	Brompton Enhanced Multi	Pair Corr
0.91	HPF	Harvest Energy Leaders	Pair Corr
0.63	HAC	Global X Seasonal	Pair Corr
0.81	UDIV	Manulife Smart Dividend	Pair Corr
0.66	VAB	Vanguard Canadian	Pair Corr
0.82	ZUD	BMO Dividend Hedged	Pair Corr

Related Correlations Analysis

	RIIN	CINF	TINF	NREA	DXN	QINF
RIIN		0.96	0.98	0.97	0.97	0.92	RIIN
CINF	0.96		0.97	0.91	0.97	0.84	CINF
TINF	0.98	0.97		0.92	0.97	0.87	TINF
NREA	0.97	0.91	0.92		0.93	0.95	NREA
DXN	0.97	0.97	0.97	0.93		0.87	DXN
QINF	0.92	0.84	0.87	0.95	0.87		QINF
	RIIN	CINF	TINF	NREA	DXN	QINF

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
RIIN	0.42	0.09	0.07	0.85	0.27	(0.50)	0.87	(0.73)	1.97
CINF	0.44	0.08	0.07	0.40	0.37	(0.49)	1.03	(0.82)	1.88
TINF	0.40	0.10	0.09	0.68	0.37	(0.44)	0.97	(0.85)	2.36
NREA	0.46	0.09	0.07	0.78	0.29	(0.56)	0.98	(0.76)	2.33
DXN	0.48	0.08	0.05	0.79	0.33	(0.64)	1.04	(0.71)	2.38
QINF	0.54	0.09	0.05	1.55	0.54	(0.59)	1.21	(1.03)	2.41

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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