Financial Correlations

FTN Etf

CAD 10.12 0.04 0.40%

The current 90-days correlation between Financial 15 Split and Dividend Growth Split is 0.62 (i.e., Poor 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

Significant diversification

The correlation between Financial 15 Split and DJI is 0.03 (i.e., Significant 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

0.89	EIT-UN	Canoe EIT Income	Pair Corr
0.86	ETC	Evolve Cryptocurrencies	Pair Corr
0.98	BNC	Purpose Canadian Fin	Pair Corr
0.92	XMC	iShares SP Mid	Pair Corr
0.79	PRP	Purpose Conservative	Pair Corr
0.85	ETHQ	3iQ Ether Staking	Pair Corr

Moving against Financial Etf

0.79

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.95	0.73	0.74	0.43	0.89	-0.29	0.89	0.21	0.56	META
MSFT	0.95		0.75	0.8	0.37	0.82	-0.31	0.95	0.27	0.57	MSFT
UBER	0.73	0.75		0.85	0.23	0.69	0.18	0.76	0.15	0.46	UBER
F	0.74	0.8	0.85		0.26	0.76	-0.16	0.87	0.46	0.72	F
T	0.43	0.37	0.23	0.26		0.46	-0.18	0.36	0.25	0.16	T
A	0.89	0.82	0.69	0.76	0.46		-0.23	0.82	0.4	0.68	A
CRM	-0.29	-0.31	0.18	-0.16	-0.18	-0.23		-0.28	-0.51	-0.37	CRM
JPM	0.89	0.95	0.76	0.87	0.36	0.82	-0.28		0.39	0.63	JPM
MRK	0.21	0.27	0.15	0.46	0.25	0.4	-0.51	0.39		0.55	MRK
XOM	0.56	0.57	0.46	0.72	0.16	0.68	-0.37	0.63	0.55		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

MSFT	+ 0.95	META
JPM	+ 0.95	MSFT
A	+ 0.89	META
JPM	+ 0.89	META
JPM	+ 0.87	F
F	+ 0.85	UBER

High negative correlations

MRK	- 0.51	CRM
XOM	- 0.37	CRM
CRM	- 0.31	MSFT
CRM	- 0.29	META
JPM	- 0.28	CRM
CRM	- 0.23	A

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	1.32	0.22	0.21	0.33	0.83	(1.59)	3.62	(2.00)	10.48
MSFT	0.72	0.33	0.45	0.68	0.00	(0.90)	2.32	(0.94)	8.85
UBER	1.50	0.01	0.01	0.16	1.55	(1.78)	4.11	(2.54)	10.87
F	1.29	0.03	0.01	0.19	1.44	(1.35)	2.63	(2.33)	7.46
T	0.94	(0.01)	(0.12)	0.05	1.23	(0.99)	2.03	(2.23)	5.71
A	1.43	(0.11)	0.01	0.10	1.75	(1.50)	2.82	(2.89)	14.01
CRM	1.10	(0.18)	(0.09)	0.01	1.53	(1.01)	2.13	(2.57)	8.50
JPM	0.79	0.15	0.14	0.32	0.58	(0.91)	1.86	(1.31)	5.90
MRK	1.40	(0.13)	(0.04)	0.06	1.90	(1.33)	2.90	(3.31)	10.58
XOM	1.05	0.05	(0.06)	0.61	1.37	(1.02)	2.14	(2.58)	6.26

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