NBI Canadian Correlations

NDIV Etf

CAD 39.42 0.88 2.28%

The current 90-days correlation between NBI Canadian Dividend and Vanguard SP 500 is 0.48 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NBI Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NBI Canadian Dividend moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NBI Canadian Correlation With Market

Weak diversification

The correlation between NBI Canadian Dividend and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NBI Canadian Dividend and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NBI 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 NBI 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 NBI 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 NBI Canadian Dividend to buy it.

Moving together with NBI Etf

0.61	CDZ	iShares SPTSX Canadian	Pair Corr
0.68	ZGD	BMO Equal Weight	Pair Corr
0.72	ZJG	BMO Junior Gold	Pair Corr
0.66	BFIN	Brompton North American	Pair Corr

Related Correlations Analysis

	VSP	XSEM	HXT	QUU	VEE	VCE	HXS	VBAL	TPU	TTP
VSP		0.36	0.65	0.84	0.23	0.65	0.71	0.85	0.84	0.64	VSP
XSEM	0.36		-0.12	0.65	0.77	-0.14	0.55	0.5	0.64	-0.14	XSEM
HXT	0.65	-0.12		0.36	-0.39	1.0	0.32	0.67	0.37	1.0	HXT
QUU	0.84	0.65	0.36		0.6	0.36	0.83	0.89	1.0	0.34	QUU
VEE	0.23	0.77	-0.39	0.6		-0.41	0.43	0.35	0.6	-0.41	VEE
VCE	0.65	-0.14	1.0	0.36	-0.41		0.32	0.66	0.36	1.0	VCE
HXS	0.71	0.55	0.32	0.83	0.43	0.32		0.74	0.82	0.31	HXS
VBAL	0.85	0.5	0.67	0.89	0.35	0.66	0.74		0.9	0.65	VBAL
TPU	0.84	0.64	0.37	1.0	0.6	0.36	0.82	0.9		0.35	TPU
TTP	0.64	-0.14	1.0	0.34	-0.41	1.0	0.31	0.65	0.35		TTP
	VSP	XSEM	HXT	QUU	VEE	VCE	HXS	VBAL	TPU	TTP

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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

VCE	+ 1.0	HXT
TTP	+ 1.0	HXT
TPU	+ 1.0	QUU
TTP	+ 1.0	VCE
TPU	+ 0.9	VBAL
VBAL	+ 0.89	QUU

High negative correlations

TTP	- 0.41	VEE
VCE	- 0.41	VEE
VEE	- 0.39	HXT
TTP	- 0.14	XSEM
VCE	- 0.14	XSEM
HXT	- 0.12	XSEM

NBI Canadian Constituents Risk-Adjusted Indicators

There is a big difference between NBI Etf performing well and NBI 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 NBI 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
VSP	0.56	0.01	(0.02)	0.07	0.86	(0.48)	1.20	(1.18)	3.24
XSEM	0.69	0.04	(0.02)	(0.25)	0.96	(0.76)	1.30	(1.41)	4.89
HXT	0.58	0.07	0.04	0.26	0.68	(0.57)	1.18	(1.37)	3.22
QUU	0.56	0.00	(0.04)	0.06	0.77	(0.56)	1.20	(1.11)	3.53
VEE	0.58	(0.04)	(0.08)	(0.02)	0.84	(0.62)	1.31	(0.93)	4.52
VCE	0.61	0.07	0.05	0.26	0.70	(0.63)	1.26	(1.40)	3.31
HXS	0.58	0.01	(0.02)	0.09	0.89	(0.53)	1.23	(1.19)	3.58
VBAL	0.38	0.01	(0.06)	0.09	0.43	(0.40)	0.82	(0.67)	2.44
TPU	0.59	0.00	(0.04)	0.05	0.86	(0.56)	1.24	(1.20)	3.48
TTP	0.63	0.08	0.05	0.28	0.79	(0.64)	1.31	(1.38)	3.70

Be your own money manager

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