Hamilton Canadian Correlations

HCA Etf

CAD 30.55 0.23 0.76%

The current 90-days correlation between Hamilton Canadian Bank and First Asset Energy is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Canadian Bank moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Canadian Correlation With Market

Weak diversification

The correlation between Hamilton Canadian Bank and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Canadian Bank and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hamilton 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 Hamilton 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 Hamilton 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 Hamilton Canadian Bank to buy it.

Moving together with Hamilton Etf

1.0	ZEB	BMO SPTSX Equal	Pair Corr
0.99	XFN	iShares SPTSX Capped	Pair Corr
0.89	ZBK	BMO Equal Weight	Pair Corr
0.83	ZUB	BMO Equal Weight	Pair Corr
0.81	FSF	CI Global Financial	Pair Corr
0.95	ZWK	BMO Covered Call	Pair Corr
1.0	CIC	CI Canadian Banks	Pair Corr
0.88	FLI	CI Canada Lifeco	Pair Corr
0.99	CEW	iShares Equal Weight	Pair Corr
0.98	XIU	iShares SPTSX 60	Pair Corr
0.94	XSP	iShares Core SP	Pair Corr
0.99	XIC	iShares Core SPTSX	Pair Corr
0.78	ZAG	BMO Aggregate Bond	Pair Corr
0.79	XBB	iShares Canadian Universe	Pair Corr
0.99	ZCN	BMO SPTSX Capped	Pair Corr
0.93	ZSP	BMO SP 500	Pair Corr
0.93	VFV	Vanguard SP 500	Pair Corr
0.91	CMAR	CI Marret Alternative	Pair Corr
0.95	CGL-C	iShares Gold Bullion	Pair Corr
0.97	ALPU	SavvyLong GOOGL ETF	Pair Corr
0.9	VA	Vanguard FTSE Developed	Pair Corr
0.83	ZWE	BMO Europe High	Pair Corr
0.96	CGXF	CI Gold Giants	Pair Corr
0.93	ZJK	BMO High Yield	Pair Corr
0.65	EBNK	Evolve European Banks	Pair Corr
0.96	XSU	iShares Small Cap	Pair Corr
0.64	CWW	iShares Global Water	Pair Corr
0.91	RUD	RBC Quant Dividend	Pair Corr
0.89	ZWP	BMO Europe High	Pair Corr
0.91	SBT	Silver Bullion Trust	Pair Corr
0.92	ZUP	BMO Preferred Share	Pair Corr
0.84	HXE	Global X SPTSX	Pair Corr
0.73	ETHX-B	CI Galaxy Ethereum	Pair Corr
0.95	PBD	Purpose Total Return	Pair Corr
0.8	CGLO	CIBC Global Growth	Pair Corr
0.94	BDIV	Brompton Global Dividend	Pair Corr
0.86	VI	Vanguard FTSE Developed	Pair Corr

Related Correlations Analysis

	NXF	CGXF	HUTL	TXF	HHL
NXF		0.77	0.57	0.71	0.55	NXF
CGXF	0.77		0.64	0.85	0.55	CGXF
HUTL	0.57	0.64		0.41	0.44	HUTL
TXF	0.71	0.85	0.41		0.32	TXF
HHL	0.55	0.55	0.44	0.32		HHL
	NXF	CGXF	HUTL	TXF	HHL

Hamilton Canadian Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton 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 Hamilton 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
NXF	0.75	0.11	0.03	0.60	0.77	(0.87)	1.86	(1.33)	5.47
CGXF	1.25	0.43	0.23	3.35	1.08	(1.47)	2.57	(2.11)	9.55
HUTL	0.39	0.04	(0.09)	1.05	0.54	(0.42)	1.02	(0.86)	3.84
TXF	0.59	0.13	0.08	0.51	0.57	(0.65)	1.43	(1.10)	3.58
HHL	0.65	(0.05)	(0.10)	0.02	0.83	(0.76)	1.69	(1.37)	5.12

Be your own money manager

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

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