Purpose Enhanced Correlations

PDIV Etf

CAD 9.58 0.01 0.10%

The current 90-days correlation between Purpose Enhanced Dividend and Purpose International Dividend is 0.57 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purpose Enhanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Enhanced Dividend moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Purpose Enhanced Correlation With Market

Very weak diversification

The correlation between Purpose Enhanced Dividend and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purpose Enhanced Dividend and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Purpose 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 Purpose 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 Purpose 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 Purpose Enhanced Dividend to buy it.

Moving together with Purpose Etf

0.83	WSRI	Wealthsimple North	Pair Corr
0.97	PDF	Purpose Core Dividend	Pair Corr
0.7	ZFN	BMO SIA Focused	Pair Corr

Moving against Purpose Etf

0.82	HXD	BetaPro SPTSX 60	Pair Corr
0.54	HED	BetaPro SPTSX Capped	Pair Corr
0.53	HUC	Global X Crude	Pair Corr
0.52	HIU	BetaPro SP 500	Pair Corr
0.47	PINV	Purpose Global Innovators	Pair Corr
0.33	HBLK	Blockchain Technologies	Pair Corr

Related Correlations Analysis

	PID	CNCC	HAL	RID	PRA	PDF	GDPY	LMAX	PYF
PID		0.95	0.92	0.89	0.85	0.93	0.59	0.58	0.36	PID
CNCC	0.95		0.97	0.84	0.78	0.96	0.56	0.55	0.32	CNCC
HAL	0.92	0.97		0.79	0.73	0.97	0.46	0.56	0.22	HAL
RID	0.89	0.84	0.79		0.82	0.82	0.57	0.61	0.46	RID
PRA	0.85	0.78	0.73	0.82		0.78	0.5	0.52	0.45	PRA
PDF	0.93	0.96	0.97	0.82	0.78		0.52	0.67	0.27	PDF
GDPY	0.59	0.56	0.46	0.57	0.5	0.52		0.19	0.74	GDPY
LMAX	0.58	0.55	0.56	0.61	0.52	0.67	0.19		0.04	LMAX
PYF	0.36	0.32	0.22	0.46	0.45	0.27	0.74	0.04		PYF
	PID	CNCC	HAL	RID	PRA	PDF	GDPY	LMAX	PYF

Purpose Enhanced Constituents Risk-Adjusted Indicators

There is a big difference between Purpose Etf performing well and Purpose 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 Purpose 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PID	0.52	0.06	0.02	0.23	0.47	(0.61)	1.03	(0.98)	3.11
CNCC	0.39	0.06	0.00	0.24	0.44	(0.42)	0.80	(0.91)	2.27
HAL	0.39	0.16	0.15	0.62	0.00	(0.46)	0.96	(0.69)	2.54
RID	0.55	0.08	0.06	0.24	0.51	(0.61)	1.30	(0.92)	4.37
PRA	0.67	0.14	0.07	0.75	0.63	(0.72)	1.46	(1.07)	3.47
PDF	0.34	0.06	(0.04)	0.30	0.23	(0.37)	0.73	(0.57)	2.00
GDPY	0.54	(0.03)	(0.10)	0.04	0.65	(0.63)	1.19	(0.94)	4.54
LMAX	0.62	0.12	0.00	(0.60)	0.67	(0.61)	1.79	(1.19)	4.05
PYF	0.12	(0.01)	(0.61)	(0.13)	0.14	(0.16)	0.30	(0.29)	0.89

Be your own money manager

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