Hamilton Enhanced Correlations

Etfs . Canada . 
Etf . Hamilton Enhanced Multi Sector
HDIV Etf   21.50  0.11  0.51%   
The current 90-days correlation between Hamilton Enhanced Multi and Hamilton Enhanced Canadian is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Enhanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Enhanced Multi Sector moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Enhanced Correlation With Market

Modest diversification

The correlation between Hamilton Enhanced Multi Sector and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Enhanced Multi Sector and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hamilton Enhanced could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hamilton Enhanced 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 Hamilton Enhanced - 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 Hamilton Enhanced Multi Sector to buy it.

Moving together with Hamilton Etf

  0.94HCAL Hamilton EnhancedPairCorr
  0.95PFLS Picton Mahoney FortifiedPairCorr
  0.88HAC Global X SeasonalPairCorr
  0.95PFAE Picton Mahoney FortifiedPairCorr
  0.94BANK Evolve Canadian BanksPairCorr
  0.99XIU iShares SPTSX 60PairCorr
  0.69XSP iShares Core SPPairCorr
  0.99XIC iShares Core SPTSXPairCorr
  0.99ZCN BMO SPTSX CappedPairCorr
  0.95ZEB BMO SPTSX EqualPairCorr
  0.91ZWS BMO High DividendPairCorr
  0.81TOCM TD One ClickPairCorr
  0.85RQO RBC Target 2026PairCorr
  0.99RCD RBC Quant CanadianPairCorr
  0.62THU TD Equity CADPairCorr
  0.92ZUD BMO Dividend HedgedPairCorr
  0.93VVSG Vanguard Canadian UltraPairCorr
  0.93MNS Royal Canadian MintPairCorr
  0.65QAH Mackenzie Large CapPairCorr
  0.91FSR First Trust MorningstarPairCorr
  0.63PZW-F Invesco FTSE RAFIPairCorr
  0.84MBAL Mackenzie BalancedPairCorr
  0.8EQLI Invesco SP 500PairCorr
  0.85MUFG MITSUBISHI UFJ FINANCIALPairCorr
  0.89XIN iShares MSCI EAFEPairCorr
  0.83ONEC Accelerate OneChoicePairCorr
  0.89XEH iShares MSCI EuropePairCorr
  0.91XCG iShares Canadian GrowthPairCorr

Moving against Hamilton Etf

  0.73TCLB TD Canadian LongPairCorr
  0.54XBB iShares Canadian UniversePairCorr
  0.53ZAG BMO Aggregate BondPairCorr

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

FCCV
+ 0.99
WXM
FCCV
+ 0.98
DGRC
WXM
+ 0.96
DGRC
WXM
+ 0.95
HCAL
FCCV
+ 0.95
HCAL
WXM
+ 0.95
VIDY
  

High negative correlations

VCNS
- 0.06
HCAL
VCNS
- 0.02
ENCC
XSU
- 0.01
ENCC

Hamilton Enhanced Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton Enhanced 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 Hamilton Enhanced'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
HCAL  0.60  0.19  0.21  0.67  0.41 
(0.73)
 1.33 
(1.26)
 3.63 
VIDY  0.50  0.09  0.06  0.38  0.49 
(0.52)
 1.14 
(1.06)
 2.88 
DGRC  0.60  0.10  0.04  13.73  0.67 
(0.61)
 1.26 
(1.11)
 2.90 
ENCC  0.69  0.09  0.02 (0.48) 0.93 
(0.74)
 1.21 
(1.55)
 4.91 
WXM  0.75  0.17  0.11  0.77  0.84 
(0.79)
 1.44 
(1.62)
 4.45 
XSU  0.91  0.08  0.03  0.46  1.06 
(0.94)
 1.87 
(1.83)
 4.89 
VCNS  0.28 (0.03) 0.00 (0.06) 0.00 
 0.00 
 0.53 
(0.75)
 2.07 
ESG  0.53 (0.02)(0.09) 0.00  0.69 
(0.56)
 1.10 
(1.06)
 3.53 
VDU  0.56  0.06  0.02  0.25  0.62 
(0.57)
 1.20 
(1.05)
 2.69 
FCCV  0.68  0.16  0.12  0.88  0.64 
(0.74)
 1.53 
(1.43)
 3.91 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hamilton Enhanced 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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