BetaPro SPTSX Correlations

HXD Etf

CAD 13.66 0.12 0.87%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BetaPro SPTSX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro SPTSX 60 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BetaPro SPTSX Correlation With Market

Very good diversification

The correlation between BetaPro SPTSX 60 and DJI is -0.5 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BetaPro SPTSX 60 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BetaPro 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 BetaPro 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 BetaPro 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 BetaPro SPTSX 60 to buy it.

Moving together with BetaPro Etf

0.71	HSD	BetaPro SP 500	Pair Corr
0.61	HED	BetaPro SPTSX Capped	Pair Corr

Moving against BetaPro Etf

1.0	HXU	BetaPro SP TSX	Pair Corr
0.94	HGU	BetaPro Canadian Gold	Pair Corr
0.94	MXF	CI First Asset	Pair Corr
0.93	HEP	Global X Enhanced	Pair Corr
0.63	HSU	BetaPro SP 500	Pair Corr
0.55	HXE	Global X SPTSX	Pair Corr
0.97	DRMC	Desjardins RI Canada	Pair Corr
0.96	RCD	RBC Quant Canadian	Pair Corr
0.95	ZGD	BMO Equal Weight	Pair Corr
0.93	PIN	Purpose Monthly Income	Pair Corr
0.92	ZWS	BMO High Dividend	Pair Corr
0.92	VVSG	Vanguard Canadian Ultra	Pair Corr
0.92	ZUD	BMO Dividend Hedged	Pair Corr
0.91	XCG	iShares Canadian Growth	Pair Corr
0.9	THE	TD International Equity	Pair Corr
0.88	XIN	iShares MSCI EAFE	Pair Corr
0.77	EQLI	Invesco SP 500	Pair Corr
0.77	PRP	Purpose Conservative	Pair Corr
0.66	LS	Middlefield Healthcare	Pair Corr
0.59	WSRD	Wealthsimple Developed	Pair Corr
0.58	TGGR	TD Active Global	Pair Corr
0.56	UDIV-B	Manulife Smart Dividend	Pair Corr
0.42	VUN	Vanguard Total Market	Pair Corr
0.31	TPU	TD Equity Index	Pair Corr
0.97	HDIV	Hamilton Enhanced Multi	Pair Corr
0.95	FCVH	Fidelity Value Currency	Pair Corr
0.94	GLDX	Global X Gold	Pair Corr
0.94	BNC	Purpose Canadian Fin	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.23	-0.34	0.23	-0.14	0.52	-0.13	-0.34	-0.42	META
MSFT	0.6		0.75	-0.54	0.51	0.17	0.28	-0.34	-0.84	-0.74	MSFT
UBER	0.23	0.75		-0.49	0.41	0.35	-0.07	-0.52	-0.84	-0.51	UBER
F	-0.34	-0.54	-0.49		-0.68	-0.03	0.13	0.65	0.69	0.67	F
T	0.23	0.51	0.41	-0.68		0.45	-0.28	-0.52	-0.51	-0.65	T
A	-0.14	0.17	0.35	-0.03	0.45		-0.41	-0.25	-0.17	-0.24	A
CRM	0.52	0.28	-0.07	0.13	-0.28	-0.41		0.52	-0.02	-0.21	CRM
JPM	-0.13	-0.34	-0.52	0.65	-0.52	-0.25	0.52		0.56	0.36	JPM
MRK	-0.34	-0.84	-0.84	0.69	-0.51	-0.17	-0.02	0.56		0.77	MRK
XOM	-0.42	-0.74	-0.51	0.67	-0.65	-0.24	-0.21	0.36	0.77		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.77	MRK
UBER	+ 0.75	MSFT
MRK	+ 0.69	F
XOM	+ 0.67	F
JPM	+ 0.65	F
MSFT	+ 0.6	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.84	MSFT
XOM	- 0.74	MSFT
T	- 0.68	F
XOM	- 0.65	T
F	- 0.54	MSFT

BetaPro SPTSX Competition Risk-Adjusted Indicators

There is a big difference between BetaPro Etf performing well and BetaPro 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 BetaPro 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.35	(0.31)	0.00	(0.21)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.99	(0.25)	0.00	(0.57)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.47	(0.12)	0.00	0.29	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.13	0.12	0.18	1.32	(1.81)	3.69	(2.35)	16.30
T	0.88	(0.18)	0.00	(0.45)	0.00	0.00	1.53	(1.85)	4.30
A	1.19	(0.13)	(0.07)	(0.01)	1.46	(1.27)	2.90	(2.24)	7.85
CRM	1.55	(0.25)	0.00	(0.12)	0.00	0.00	3.59	(3.10)	12.37
JPM	1.12	(0.10)	(0.04)	0.02	1.67	(1.13)	2.00	(3.11)	7.38
MRK	1.22	0.37	0.26	0.56	1.02	(1.52)	3.59	(1.98)	8.09
XOM	1.08	0.29	0.17	2.95	0.97	(1.25)	2.38	(1.51)	5.82

Be your own money manager

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