IShares Canadian Correlations

XCV Etf

CAD 52.60 0.11 0.21%

The current 90-days correlation between iShares Canadian Value and iShares MSCI Min is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Canadian Value moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Canadian Correlation With Market

Weak diversification

The correlation between iShares Canadian Value and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Canadian Value and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IShares Etf

0.94	XIU	iShares SPTSX 60	Pair Corr
0.94	XIC	iShares Core SPTSX	Pair Corr
0.94	ZCN	BMO SPTSX Capped	Pair Corr
0.94	VCN	Vanguard FTSE Canada	Pair Corr
0.95	HXT	Global X SPTSX	Pair Corr
0.94	HXCN	Global X SPTSX	Pair Corr
0.94	QCN	Mackenzie Canadian Equity	Pair Corr
0.97	WXM	First Asset Morningstar	Pair Corr
0.94	TTP	TD Canadian Equity	Pair Corr
0.62	XSP	iShares Core SP	Pair Corr
0.98	ZEB	BMO SPTSX Equal	Pair Corr

Moving against IShares Etf

0.81	TCLB	TD Canadian Long	Pair Corr
0.66	XBB	iShares Canadian Universe	Pair Corr
0.64	ZAG	BMO Aggregate Bond	Pair Corr

Related Correlations Analysis

	XMM	HXF	TLV	FLI	CALL	FLUS	RING	XCG	PINC	XDUH
XMM		-0.17	-0.08	-0.26	-0.23	0.56	0.59	0.18	0.5	0.11	XMM
HXF	-0.17		0.93	0.96	0.97	0.43	-0.77	0.81	0.56	0.82	HXF
TLV	-0.08	0.93		0.9	0.89	0.37	-0.71	0.77	0.52	0.84	TLV
FLI	-0.26	0.96	0.9		0.96	0.32	-0.81	0.72	0.44	0.75	FLI
CALL	-0.23	0.97	0.89	0.96		0.39	-0.78	0.8	0.56	0.81	CALL
FLUS	0.56	0.43	0.37	0.32	0.39		-0.02	0.65	0.65	0.55	FLUS
RING	0.59	-0.77	-0.71	-0.81	-0.78	-0.02		-0.42	-0.01	-0.43	RING
XCG	0.18	0.81	0.77	0.72	0.8	0.65	-0.42		0.81	0.88	XCG
PINC	0.5	0.56	0.52	0.44	0.56	0.65	-0.01	0.81		0.75	PINC
XDUH	0.11	0.82	0.84	0.75	0.81	0.55	-0.43	0.88	0.75		XDUH
	XMM	HXF	TLV	FLI	CALL	FLUS	RING	XCG	PINC	XDUH

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

CALL	+ 0.97	HXF
FLI	+ 0.96	HXF
CALL	+ 0.96	FLI
TLV	+ 0.93	HXF
FLI	+ 0.9	TLV
CALL	+ 0.89	TLV

High negative correlations

RING	- 0.81	FLI
RING	- 0.78	CALL
RING	- 0.77	HXF
RING	- 0.71	TLV
XDUH	- 0.43	RING
XCG	- 0.42	RING

IShares Canadian Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Canadian 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 IShares Canadian'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
XMM	0.38	0.03	(0.09)	0.19	0.33	(0.45)	0.88	(0.80)	2.64
HXF	0.47	0.16	0.18	0.98	0.00	(0.57)	1.24	(0.84)	2.96
TLV	0.26	0.08	0.02	0.55	0.14	(0.31)	0.57	(0.39)	2.54
FLI	0.55	0.05	0.00	0.22	0.63	(0.62)	1.26	(1.15)	3.58
CALL	0.81	0.08	0.06	0.17	1.03	(0.87)	2.11	(1.33)	5.20
FLUS	0.56	0.03	(0.01)	0.13	0.54	(0.65)	1.28	(1.20)	4.03
RING	0.50	(0.04)	0.00	1.24	0.00	0.00	0.95	(1.04)	3.11
XCG	0.89	0.03	0.01	0.12	1.10	(0.88)	1.83	(1.73)	5.03
PINC	0.26	0.02	(0.12)	0.20	0.34	(0.27)	0.56	(0.50)	1.96
XDUH	0.48	0.03	(0.03)	0.16	0.50	(0.53)	1.17	(1.00)	3.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Canadian 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.

Did you try this?

Run Portfolio Volatility Now

Portfolio Volatility

Check portfolio volatility and analyze historical return density to properly model market risk

All Next

Launch Module

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