TD Active Correlations

TPRF Etf

CAD 12.50 0.07 0.56%

The current 90-days correlation between TD Active Preferred and iShares ESG Advanced is 0.46 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TD Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Active Preferred moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TD Active Correlation With Market

Almost no diversification

The correlation between TD Active Preferred and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD Active Preferred and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TPRF Etf

0.99	ZPR	BMO Laddered Preferred	Pair Corr
0.99	HPR	Global X Active	Pair Corr
0.98	CPD	iShares SPTSX Canadian	Pair Corr
0.99	RPF	RBC Canadian Preferred	Pair Corr
0.96	DXP	Dynamic Active Preferred	Pair Corr
0.92	DIVS	Evolve Active Canadian	Pair Corr
0.9	XPF	iShares SPTSX North	Pair Corr
0.92	PR	Lysander Slater Pref	Pair Corr
0.94	HFP	Global X Active	Pair Corr
0.89	FPR	CI Preferred Share	Pair Corr
0.93	FTN	Financial 15 Split Split	Pair Corr
0.73	DRFG	Desjardins RI Global	Pair Corr
0.84	HAC	Global X Seasonal	Pair Corr
0.85	QDX	Mackenzie International	Pair Corr
0.91	QCE	Mackenzie Canadian Large	Pair Corr
0.91	QCN	Mackenzie Canadian Equity	Pair Corr
0.84	VIU	Vanguard FTSE Developed	Pair Corr

Related Correlations Analysis

	HUTL	EGIF	XMH	XMU	XMD	XTR	AMAX	XUSR	FLSD	XCSR
HUTL		0.72	0.43	0.03	0.56	-0.29	0.53	-0.03	0.73	0.05	HUTL
EGIF	0.72		0.73	-0.3	0.84	-0.37	0.8	-0.19	0.42	0.48	EGIF
XMH	0.43	0.73		-0.16	0.93	-0.43	0.9	-0.09	0.37	0.86	XMH
XMU	0.03	-0.3	-0.16		-0.24	0.43	-0.19	0.22	0.44	-0.24	XMU
XMD	0.56	0.84	0.93	-0.24		-0.44	0.99	-0.3	0.39	0.8	XMD
XTR	-0.29	-0.37	-0.43	0.43	-0.44		-0.39	0.15	-0.15	-0.21	XTR
AMAX	0.53	0.8	0.9	-0.19	0.99	-0.39		-0.4	0.39	0.8	AMAX
XUSR	-0.03	-0.19	-0.09	0.22	-0.3	0.15	-0.4		0.11	-0.23	XUSR
FLSD	0.73	0.42	0.37	0.44	0.39	-0.15	0.39	0.11		0.04	FLSD
XCSR	0.05	0.48	0.86	-0.24	0.8	-0.21	0.8	-0.23	0.04		XCSR
	HUTL	EGIF	XMH	XMU	XMD	XTR	AMAX	XUSR	FLSD	XCSR

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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

AMAX	+ 0.99	XMD
XMD	+ 0.93	XMH
AMAX	+ 0.9	XMH
XCSR	+ 0.86	XMH
XMD	+ 0.84	EGIF
AMAX	+ 0.8	EGIF

High negative correlations

XTR	- 0.44	XMD
XTR	- 0.43	XMH
XUSR	- 0.4	AMAX
AMAX	- 0.39	XTR
XTR	- 0.37	EGIF
XUSR	- 0.3	XMD

TD Active Constituents Risk-Adjusted Indicators

There is a big difference between TPRF Etf performing well and TD Active 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 TD Active'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
HUTL	0.42	0.04	(0.01)	0.48	0.48	(0.43)	0.83	(0.87)	2.41
EGIF	0.24	0.09	0.00	0.81	0.00	0.00	0.32	0.00	5.53
XMH	0.72	0.04	0.00	0.20	0.81	(0.80)	1.66	(1.51)	4.13
XMU	0.44	(0.07)	0.00	(0.39)	0.00	0.00	0.93	(1.11)	2.70
XMD	0.77	0.24	0.19	0.83	0.82	(0.87)	1.81	(1.84)	4.55
XTR	0.26	(0.04)	0.00	(0.16)	0.00	0.00	0.50	(0.59)	3.65
AMAX	1.52	0.50	0.27	0.87	1.39	(1.86)	3.96	(3.60)	8.89
XUSR	0.81	(0.10)	0.00	(0.13)	0.00	0.00	1.71	(2.09)	4.85
FLSD	0.08	(0.01)	(0.35)	(0.13)	0.10	(0.10)	0.16	(0.21)	0.62
XCSR	0.64	0.04	0.01	0.15	0.84	(0.65)	1.43	(1.34)	4.18

Be your own money manager

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