Ninepoint Balanced Correlations

NBAL Etf

23.01 0.08 0.35%

The current 90-days correlation between Ninepoint Balanced and Ninepoint Canadian Natural is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ninepoint Balanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ninepoint Balanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ninepoint Balanced Correlation With Market

Poor diversification

The correlation between Ninepoint Balanced and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ninepoint Balanced and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ninepoint Etf

0.88	XIU	iShares SPTSX 60	Pair Corr
0.92	XIC	iShares Core SPTSX	Pair Corr
0.64	ZAG	BMO Aggregate Bond	Pair Corr
0.81	ZEB	BMO SPTSX Equal	Pair Corr
0.97	MCSM	Manulife Multifactor	Pair Corr
0.63	GBUL	Ninepoint Gold Bullion	Pair Corr
0.86	VSB	Vanguard Canadian Short	Pair Corr
0.86	WSRD	Wealthsimple Developed	Pair Corr
0.92	VCN	Vanguard FTSE Canada	Pair Corr
0.9	UMI	CI MidCap Dividend	Pair Corr
0.84	HXU	BetaPro SP TSX	Pair Corr
0.79	PINV	Purpose Global Innovators	Pair Corr
0.92	XESG	iShares ESG Aware	Pair Corr
0.91	TGFI	TD Active Global	Pair Corr
0.81	HURA	Global X Uranium	Pair Corr
0.94	EIT-UN	Canoe EIT Income	Pair Corr
0.72	SVR	iShares Silver Bullion	Pair Corr
0.88	HXE	Global X SPTSX	Pair Corr
0.89	XDG	iShares Core MSCI	Pair Corr
0.84	ZSML	BMO SP Small	Pair Corr
0.71	SVR-C	iShares Silver Bullion	Pair Corr
0.94	HXH	Global X Canadian	Pair Corr
0.88	XSMH	iShares SP Small	Pair Corr
0.94	HGGG	Harvest Global Gold	Pair Corr
0.83	PFIN	PICTON Income	Pair Corr
0.8	XRE	iShares SPTSX Capped	Pair Corr
0.85	HEU	BetaPro SP TSX	Pair Corr
0.92	XBAL	iShares Core Balanced	Pair Corr
0.94	RID	RBC Quant EAFE	Pair Corr
0.96	PDIV	Purpose Enhanced Dividend	Pair Corr
0.91	XMM	iShares MSCI Min	Pair Corr
0.89	VSC	Vanguard Canadian Short	Pair Corr
0.83	XDIV	iShares Core MSCI	Pair Corr
0.95	QDX	Mackenzie International	Pair Corr
0.85	PSB	Invesco 1 5	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.19	-0.21	0.24	0.18	-0.35	-0.04	0.32	0.22	0.28	META
MSFT	-0.19		0.84	-0.63	-0.85	0.8	0.92	0.29	-0.89	-0.94	MSFT
UBER	-0.21	0.84		-0.55	-0.76	0.88	0.75	0.16	-0.8	-0.83	UBER
F	0.24	-0.63	-0.55		0.37	-0.56	-0.45	0.04	0.75	0.68	F
T	0.18	-0.85	-0.76	0.37		-0.64	-0.84	-0.26	0.72	0.74	T
A	-0.35	0.8	0.88	-0.56	-0.64		0.64	0.13	-0.74	-0.83	A
CRM	-0.04	0.92	0.75	-0.45	-0.84	0.64		0.51	-0.79	-0.88	CRM
JPM	0.32	0.29	0.16	0.04	-0.26	0.13	0.51		-0.05	-0.26	JPM
MRK	0.22	-0.89	-0.8	0.75	0.72	-0.74	-0.79	-0.05		0.91	MRK
XOM	0.28	-0.94	-0.83	0.68	0.74	-0.83	-0.88	-0.26	0.91		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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

CRM	+ 0.92	MSFT
XOM	+ 0.91	MRK
A	+ 0.88	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
CRM	+ 0.75	UBER

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.89	MSFT
XOM	- 0.88	CRM
T	- 0.85	MSFT
CRM	- 0.84	T
XOM	- 0.83	A

Ninepoint Balanced Competition Risk-Adjusted Indicators

There is a big difference between Ninepoint Etf performing well and Ninepoint Balanced 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 Ninepoint Balanced'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	1.53	0.21	0.03	(0.41)	1.51	(1.75)	3.43	(2.81)	13.69
MSFT	1.31	(0.30)	0.00	(0.57)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.22)	0.00	(0.27)	0.00	0.00	2.70	(3.82)	11.09
F	1.25	0.14	0.11	0.26	0.96	(1.56)	3.61	(1.98)	7.50
T	1.04	0.14	0.02	(1.11)	0.99	(1.21)	3.87	(1.76)	7.44
A	1.26	(0.24)	0.00	(0.95)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.78	(0.29)	0.00	(0.14)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.24	(0.13)	(0.03)	0.03	1.76	(1.30)	2.34	(3.11)	8.17
MRK	1.26	0.28	0.17	0.52	1.11	(1.40)	2.81	(2.06)	8.74
XOM	1.29	0.36	0.18	3.96	1.09	(1.50)	2.90	(2.44)	6.83

Ninepoint Balanced Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Ninepoint Balanced etf to make a market-neutral strategy. Peer analysis of Ninepoint Balanced could also be used in its relative valuation, which is a method of valuing Ninepoint Balanced by comparing valuation metrics with similar companies.

Ninepoint Gold and Ninepoint Bitcoin ETF Ninepoint Shopify HighShares Ninepoint Royal Bank Ninepoint Silver Equities Ninepoint BCE HighShares Ninepoint Energy Ninepoint Barrick HighShares Ninepoint Canadian Natural American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC