Harvest Clean Correlations

HCLN Etf

CAD 10.80 0.10 0.93%

The current 90-days correlation between Harvest Clean Energy and BMO Global Enhanced is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harvest Clean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Clean Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harvest Clean Correlation With Market

Poor diversification

The correlation between Harvest Clean Energy and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Clean Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Harvest Etf

0.92	ZCLN	BMO Clean Energy	Pair Corr
0.78	HGU	BetaPro Canadian Gold	Pair Corr
0.66	HZU	BetaPro Silver 2x	Pair Corr
0.78	HGGG	Harvest Global Gold	Pair Corr
0.8	GLDX	Global X Gold	Pair Corr
0.78	ZGD	BMO Equal Weight	Pair Corr
0.79	ZJG	BMO Junior Gold	Pair Corr
0.81	HBU	BetaPro Gold Bullion	Pair Corr
0.78	SVR	iShares Silver Bullion	Pair Corr
0.81	XGD	iShares SPTSX Global	Pair Corr
0.77	SBT	Silver Bullion Trust	Pair Corr
0.68	ATSX	Accelerate Canadian Long	Pair Corr
0.81	PDIV	Purpose Enhanced Dividend	Pair Corr
0.67	TGFI	TD Active Global	Pair Corr
0.66	XCNS	iShares Core Conservative	Pair Corr
0.69	XEG	iShares SPTSX Capped	Pair Corr
0.62	XSTB	iShares ESG Aware	Pair Corr
0.76	WSHR	Wealthsimple Shariah	Pair Corr
0.62	CPD	iShares SPTSX Canadian	Pair Corr
0.71	GCTB	Guardian Ultra Short	Pair Corr
0.7	ZMID	BMO SP Mid	Pair Corr
0.67	HXU	BetaPro SP TSX	Pair Corr
0.62	DXN	Dynamic Active Global	Pair Corr
0.78	VIDY	Vanguard FTSE Developed	Pair Corr
0.67	VVSG	Vanguard Canadian Ultra	Pair Corr
0.8	CGXF	CI Gold Giants	Pair Corr
0.69	CTMB	CI Target 2029	Pair Corr
0.75	HPF	Harvest Energy Leaders	Pair Corr
0.62	NHYB	NBI High Yield	Pair Corr
0.72	ZWA	BMO Covered Call	Pair Corr
0.83	ZDM	BMO MSCI EAFE	Pair Corr

Related Correlations Analysis

	DRFG	PIN	PBD	HERO	RPDH	ZZZD	CNCL	BLOV	XMY	ZWQT
DRFG		0.74	0.64	-0.57	0.78	0.6	0.75	0.52	0.42	0.83	DRFG
PIN	0.74		0.73	-0.83	0.96	0.91	0.72	0.89	0.82	0.91	PIN
PBD	0.64	0.73		-0.5	0.73	0.67	0.66	0.6	0.64	0.77	PBD
HERO	-0.57	-0.83	-0.5		-0.87	-0.78	-0.54	-0.83	-0.73	-0.79	HERO
RPDH	0.78	0.96	0.73	-0.87		0.84	0.79	0.82	0.74	0.96	RPDH
ZZZD	0.6	0.91	0.67	-0.78	0.84		0.49	0.92	0.87	0.79	ZZZD
CNCL	0.75	0.72	0.66	-0.54	0.79	0.49		0.44	0.41	0.85	CNCL
BLOV	0.52	0.89	0.6	-0.83	0.82	0.92	0.44		0.91	0.76	BLOV
XMY	0.42	0.82	0.64	-0.73	0.74	0.87	0.41	0.91		0.69	XMY
ZWQT	0.83	0.91	0.77	-0.79	0.96	0.79	0.85	0.76	0.69		ZWQT
	DRFG	PIN	PBD	HERO	RPDH	ZZZD	CNCL	BLOV	XMY	ZWQT

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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

RPDH	+ 0.96	PIN
ZWQT	+ 0.96	RPDH
BLOV	+ 0.92	ZZZD
ZZZD	+ 0.91	PIN
ZWQT	+ 0.91	PIN
XMY	+ 0.91	BLOV

High negative correlations

RPDH	- 0.87	HERO
BLOV	- 0.83	HERO
HERO	- 0.83	PIN
ZWQT	- 0.79	HERO
ZZZD	- 0.78	HERO
XMY	- 0.73	HERO

Harvest Clean Constituents Risk-Adjusted Indicators

There is a big difference between Harvest Etf performing well and Harvest Clean 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 Harvest Clean'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
DRFG	0.75	0.04	0.00	0.14	1.55	(0.78)	1.17	(1.38)	10.64
PIN	0.29	0.08	0.09	0.45	0.00	(0.37)	0.74	(0.48)	1.73
PBD	0.16	(0.01)	(0.29)	(0.02)	0.16	(0.22)	0.42	(0.24)	1.21
HERO	0.86	(0.28)	0.00	(24.77)	0.00	0.00	1.37	(2.78)	6.97
RPDH	0.45	0.16	0.24	0.78	0.00	(0.61)	1.47	(0.58)	3.19
ZZZD	0.37	0.04	(0.02)	0.23	0.32	(0.45)	0.99	(0.67)	2.10
CNCL	0.56	0.05	0.01	0.16	0.83	(0.63)	1.14	(1.22)	4.65
BLOV	0.32	0.11	0.11	1.54	0.00	(0.41)	0.81	(0.45)	2.46
XMY	0.37	0.04	(0.02)	0.49	0.35	(0.43)	0.89	(0.74)	2.49
ZWQT	0.43	0.04	0.02	0.14	0.36	(0.55)	0.93	(0.79)	2.97

Be your own money manager

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