CI WisdomTree Correlations

JAPN Etf

CAD 58.39 1.21 2.12%

The current 90-days correlation between CI WisdomTree Japan and NBI High Yield is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI WisdomTree moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI WisdomTree Japan moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI WisdomTree Correlation With Market

Good diversification

The correlation between CI WisdomTree Japan and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI WisdomTree Japan and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with JAPN Etf

0.7	HURA	Global X Uranium	Pair Corr
0.67	HXE	Global X SPTSX	Pair Corr
0.68	XEG	iShares SPTSX Capped	Pair Corr
0.86	ENCC	Global X Canadian	Pair Corr
0.82	HFU	BetaPro SPTSX Capped	Pair Corr
0.84	ZEO	BMO Equal Weight	Pair Corr
0.88	HXU	BetaPro SP TSX	Pair Corr
0.87	HSU	BetaPro SP 500	Pair Corr
0.69	HUG	Global X Gold	Pair Corr
0.92	BND	Purpose Global Bond	Pair Corr
0.79	HDGE	Accelerate Absolute	Pair Corr

Moving against JAPN Etf

0.63

ZID

BMO MSCI India

Pair Corr

Related Correlations Analysis

	JAPN	NHYB	AGLB	NUBF	QDXB	ZSB	CNDD	SPYD	ZXLY-F
JAPN		0.84	0.0	0.91	0.18	0.85	-0.9	-0.88	0.9	JAPN
NHYB	0.84		0.0	0.89	0.37	0.89	-0.9	-0.87	0.9	NHYB
AGLB	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AGLB
NUBF	0.91	0.89	0.0		0.36	0.93	-0.93	-0.88	0.9	NUBF
QDXB	0.18	0.37	0.0	0.36		0.41	-0.29	-0.24	0.21	QDXB
ZSB	0.85	0.89	0.0	0.93	0.41		-0.95	-0.89	0.9	ZSB
CNDD	-0.9	-0.9	0.0	-0.93	-0.29	-0.95		0.93	-0.94	CNDD
SPYD	-0.88	-0.87	0.0	-0.88	-0.24	-0.89	0.93		-0.97	SPYD
ZXLY-F	0.9	0.9	0.0	0.9	0.21	0.9	-0.94	-0.97		ZXLY-F
	JAPN	NHYB	AGLB	NUBF	QDXB	ZSB	CNDD	SPYD	ZXLY-F

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

ZSB	+ 0.93	NUBF
SPYD	+ 0.93	CNDD
NUBF	+ 0.91	JAPN
ZXLY-F	+ 0.9	JAPN
ZXLY-F	+ 0.9	NHYB
ZXLY-F	+ 0.9	NUBF

High negative correlations

ZXLY-F	- 0.97	SPYD
CNDD	- 0.95	ZSB
ZXLY-F	- 0.94	CNDD
CNDD	- 0.93	NUBF
CNDD	- 0.9	NHYB
CNDD	- 0.9	JAPN

CI WisdomTree Constituents Risk-Adjusted Indicators

There is a big difference between JAPN Etf performing well and CI WisdomTree 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 CI WisdomTree'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
JAPN	0.68	0.16	0.12	(1.43)	0.47	(0.93)	1.84	(1.04)	6.92
NHYB	0.22	0.00	(0.16)	0.05	0.24	(0.30)	0.46	(0.41)	2.05
AGLB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUBF	0.17	0.02	(0.15)	1.19	0.12	(0.22)	0.42	(0.37)	1.08
QDXB	0.24	(0.02)	0.00	(0.06)	0.00	0.00	0.60	(0.64)	1.57
ZSB	0.08	0.01	(0.51)	10.89	0.00	(0.09)	0.19	(0.14)	0.39
CNDD	0.77	(0.31)	0.00	1.02	0.00	0.00	1.12	(2.06)	6.19
SPYD	1.35	(0.33)	0.00	(18.53)	0.00	0.00	2.30	(3.10)	8.90
ZXLY-F	0.62	0.14	0.09	(1.08)	0.64	(0.66)	1.40	(1.17)	4.34

Be your own money manager

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