Correlation Between First Asset and Dynamic Active
Can company-specific risk be reduced by holding First Asset Morningstar and Dynamic Active Canadian together? Use this page to interpret how First Asset Morningstar and Dynamic Active Canadian interact and how much diversifiable risk remains.
Review First Asset Morningstar against Dynamic Active Canadian to separate temporary co-movement from persistent structural correlation. You can also test a long First Asset and short Dynamic Active structure to evaluate relative-value behavior. Review volatility patterns in First Asset and Dynamic Active. Go to your portfolio center
Diversification Opportunities for First Asset and Dynamic Active
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between First and Dynamic is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding First Asset Morningstar and Dynamic Active Canadian in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dynamic Active Canadian and First Asset is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on First Asset Morningstar are associated (or correlated) with Dynamic Active. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dynamic Active Canadian has no effect on the direction of First Asset i.e., First Asset and Dynamic Active go up and down completely randomly.
Pair Corralation between First Asset and Dynamic Active
Assuming the 90-day trading horizon First Asset Morningstar is expected to generate 1.48 times more return on investment than Dynamic Active. However, First Asset is 1.48 times more volatile than Dynamic Active Canadian. It trades about 0.16 of its potential returns per unit of risk. Dynamic Active Canadian is currently generating about 0.1 per unit of risk. If you had invested C$ 4,705 in First Asset Morningstar on December 17, 2025 and sold it today you would have earned a total of C$ 399.00 from holding First Asset Morningstar or generated 8.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
First Asset Morningstar vs. Dynamic Active Canadian
Performance |
| Timeline |
| First Asset Morningstar |
Risk-Adjusted Performance
Balanced
Weak | Strong |
| Dynamic Active Canadian |
Risk-Adjusted Performance
Moderate
Weak | Strong |
First Asset and Dynamic Active Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with First Asset and Dynamic Active
Combining First Asset with Dynamic Active in a pair setup can help isolate spread behavior from broader market movement. This is most useful when the two securities share economic drivers but still create room for relative-performance divergence.| First Asset vs. First Asset Morningstar | First Asset vs. Hamilton Energy YIELD | First Asset vs. RBC Canadian Bank | First Asset vs. Dynamic Active Canadian |
| Dynamic Active vs. First Asset Morningstar | Dynamic Active vs. iShares SAMPPTSX Capped | Dynamic Active vs. Hamilton Gold Producer | Dynamic Active vs. NBI Liquid Alternatives |
Go to your portfolio centerThe analysis presented here should support, not replace, the broader process of selecting and combining portfolio holdings. The practical goal is to improve the mix of assets already under consideration. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Other Complementary Tools
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |