Financial Correlations

FTN Etf

CAD 10.16 0.04 0.40%

The current 90-days correlation between Financial 15 Split and Dividend Growth Split is 0.52 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Financial 15 Split moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Financial Correlation With Market

Average diversification

The correlation between Financial 15 Split and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial 15 Split and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Financial 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 Financial - 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 Financial 15 Split to buy it.

Moving together with Financial Etf

0.94	XMC	iShares SP Mid	Pair Corr
0.86	ETC	Evolve Cryptocurrencies	Pair Corr
0.81	XRE	iShares SPTSX Capped	Pair Corr
0.72	COW	iShares Global Agric	Pair Corr
0.94	BITC	Ninepoint Bitcoin ETF	Pair Corr
0.81	VSC	Vanguard Canadian Short	Pair Corr
0.97	PFLS	Picton Mahoney Fortified	Pair Corr
0.95	VCN	Vanguard FTSE Canada	Pair Corr
0.66	HFG	Hamilton Global Fina	Pair Corr
0.91	XCS	iShares SPTSX Small	Pair Corr
0.76	VVO	Vanguard Global Minimum	Pair Corr
0.97	CBL	Franklin Core ETF	Pair Corr

Moving against Financial Etf

0.71

XLB

iShares Core Canadian

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.89	0.52	0.67	0.56	0.48	-0.75	0.76	0.59	0.31	META
MSFT	0.89		0.53	0.72	0.32	0.41	-0.65	0.91	0.63	0.42	MSFT
UBER	0.52	0.53		0.85	0.47	0.55	-0.19	0.66	0.68	0.4	UBER
F	0.67	0.72	0.85		0.51	0.63	-0.44	0.81	0.84	0.57	F
T	0.56	0.32	0.47	0.51		0.57	-0.44	0.38	0.63	0.21	T
A	0.48	0.41	0.55	0.63	0.57		-0.11	0.54	0.75	0.67	A
CRM	-0.75	-0.65	-0.19	-0.44	-0.44	-0.11		-0.44	-0.4	-0.06	CRM
JPM	0.76	0.91	0.66	0.81	0.38	0.54	-0.44		0.73	0.52	JPM
MRK	0.59	0.63	0.68	0.84	0.63	0.75	-0.4	0.73		0.64	MRK
XOM	0.31	0.42	0.4	0.57	0.21	0.67	-0.06	0.52	0.64		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.91	MSFT
MSFT	+ 0.89	META
F	+ 0.85	UBER
MRK	+ 0.84	F
JPM	+ 0.81	F
JPM	+ 0.76	META

High negative correlations

CRM	- 0.75	META
CRM	- 0.65	MSFT
JPM	- 0.44	CRM
CRM	- 0.44	T
CRM	- 0.44	F
MRK	- 0.4	CRM

Financial Competition Risk-Adjusted Indicators

There is a big difference between Financial Etf performing well and Financial 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 Financial'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	1.39	0.17	0.12	0.30	1.12	(1.70)	3.16	(2.27)	14.28
MSFT	0.71	0.11	0.06	0.35	0.60	(0.81)	1.80	(1.42)	5.71
UBER	1.37	0.04	0.00	0.18	1.57	(1.49)	2.72	(2.02)	11.37
F	1.28	0.08	0.06	0.18	1.45	(1.32)	2.55	(2.36)	7.46
T	0.76	0.02	(0.05)	0.15	0.98	(0.75)	1.63	(1.96)	5.41
A	1.38	(0.04)	0.02	0.09	1.64	(1.45)	2.82	(2.46)	9.19
CRM	1.23	(0.34)	0.00	(0.15)	0.00	0.00	2.32	(3.26)	6.27
JPM	0.81	0.08	0.07	0.19	0.82	(0.91)	1.78	(1.36)	5.19
MRK	1.16	0.07	0.04	0.19	1.42	(1.12)	2.90	(2.36)	7.79
XOM	0.99	0.12	0.01	1.31	1.23	(0.99)	2.14	(2.07)	6.25

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