Purpose Floating Correlations

FLOT-U Etf

USD 6.08 0.00 0.00%

The current 90-days correlation between Purpose Floating Rate and Purpose Enhanced Premium is -0.08 (i.e., Good diversification). The correlation of Purpose Floating is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Purpose Floating Correlation With Market

Poor diversification

The correlation between Purpose Floating Rate and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purpose Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Purpose Etf

0.63	XIU	iShares SPTSX 60	Pair Corr
0.7	XIC	iShares Core SPTSX	Pair Corr
0.7	ZCN	BMO SPTSX Capped	Pair Corr
0.68	CGRA	CI Global Real	Pair Corr
0.79	NXF	First Asset Energy	Pair Corr
0.81	GDV	Global Dividend Growth	Pair Corr
0.86	EIT-UN	Canoe EIT Income	Pair Corr
0.81	NMNG	Ninepoint Mining Evo	Pair Corr
0.77	XEG	iShares SPTSX Capped	Pair Corr
0.73	ATSX	Accelerate Canadian Long	Pair Corr
0.71	ZMID	BMO SP Mid	Pair Corr
0.65	RAAA	Corton Enhanced Income	Pair Corr
0.67	ZUD	BMO Dividend Hedged	Pair Corr
0.66	NHYB	NBI High Yield	Pair Corr
0.77	GCTB	Guardian Ultra Short	Pair Corr
0.62	ZGI	BMO Global Infrastructure	Pair Corr
0.79	XEU	iShares MSCI Europe	Pair Corr
0.76	HXX	Global X Europe	Pair Corr
0.69	XSB	iShares Canadian Short	Pair Corr
0.74	CTMB	CI Target 2029	Pair Corr
0.79	HPF	Harvest Energy Leaders	Pair Corr
0.76	BMAX	Brompton Enhanced Multi	Pair Corr
0.69	XEN	iShares Jantzi Social	Pair Corr
0.78	UDIV	Manulife Smart Dividend	Pair Corr
0.77	TERM	Manulife Smart Short	Pair Corr
0.7	ZCON	BMO Conservative ETF	Pair Corr

Related Correlations Analysis

	BTCY-B	SOLL-U	PYF-B	FLOT-U	ETHY	SBT-U	PRP	IGB	PAYF
BTCY-B		0.98	0.59	-0.52	0.98	-0.21	-0.8	-0.71	0.73	BTCY-B
SOLL-U	0.98		0.59	-0.53	0.96	-0.25	-0.79	-0.71	0.7	SOLL-U
PYF-B	0.59	0.59		-0.29	0.55	-0.49	-0.51	-0.5	0.37	PYF-B
FLOT-U	-0.52	-0.53	-0.29		-0.52	0.67	0.83	0.71	-0.27	FLOT-U
ETHY	0.98	0.96	0.55	-0.52		-0.14	-0.78	-0.66	0.78	ETHY
SBT-U	-0.21	-0.25	-0.49	0.67	-0.14		0.6	0.65	0.21	SBT-U
PRP	-0.8	-0.79	-0.51	0.83	-0.78	0.6		0.91	-0.44	PRP
IGB	-0.71	-0.71	-0.5	0.71	-0.66	0.65	0.91		-0.22	IGB
PAYF	0.73	0.7	0.37	-0.27	0.78	0.21	-0.44	-0.22		PAYF
	BTCY-B	SOLL-U	PYF-B	FLOT-U	ETHY	SBT-U	PRP	IGB	PAYF

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

SOLL-U	+ 0.98	BTCY-B
ETHY	+ 0.98	BTCY-B
ETHY	+ 0.96	SOLL-U
IGB	+ 0.91	PRP
PRP	+ 0.83	FLOT-U
PAYF	+ 0.78	ETHY

High negative correlations

PRP	- 0.8	BTCY-B
PRP	- 0.79	SOLL-U
PRP	- 0.78	ETHY
IGB	- 0.71	SOLL-U
IGB	- 0.71	BTCY-B
IGB	- 0.66	ETHY

Purpose Floating Constituents Risk-Adjusted Indicators

There is a big difference between Purpose Etf performing well and Purpose Floating 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 Purpose Floating'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
BTCY-B	2.65	(0.67)	0.00	(0.31)	0.00	0.00	5.24	(6.83)	23.08
SOLL-U	3.34	(0.81)	0.00	(0.40)	0.00	0.00	8.69	(8.86)	22.51
PYF-B	0.22	(0.05)	0.00	(0.20)	0.00	0.00	0.60	(0.64)	2.86
FLOT-U	0.12	(0.01)	0.00	(0.34)	0.00	0.00	0.67	(0.65)	1.66
ETHY	3.84	(0.88)	0.00	(0.35)	0.00	0.00	8.23	(7.69)	26.98
SBT-U	3.95	0.74	0.11	1.34	5.89	(4.17)	8.04	(9.70)	29.95
PRP	0.21	0.04	(0.05)	3.64	0.00	(0.24)	0.50	(0.35)	1.39
IGB	0.09	0.01	(0.33)	0.45	0.00	(0.11)	0.22	(0.16)	0.71
PAYF	0.31	(0.04)	0.00	(0.11)	0.00	0.00	0.44	(0.81)	1.88

Be your own money manager

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