RBC Target Correlations

RQR Etf

22.10 0.01 0.05%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as RBC Target moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RBC Target 2029 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

RBC Target Correlation With Market

Average diversification

The correlation between RBC Target 2029 and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RBC Target 2029 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to RBC Target could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RBC Target 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 RBC Target - 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 RBC Target 2029 to buy it.

Moving together with RBC Etf

0.87	XCB	iShares Core Canadian	Pair Corr
0.77	ZCM	BMO Mid Corporate	Pair Corr
0.75	HAB	Global X Active	Pair Corr
0.61	CBH	iShares 1 10Yr	Pair Corr
0.85	RQO	RBC Target 2026	Pair Corr
0.69	CACB	CIBC Active Investment	Pair Corr
0.8	FLCI	Franklin Bissett Cor	Pair Corr
0.8	RQP	RBC Target 2027	Pair Corr
0.74	XIU	iShares SPTSX 60	Pair Corr
0.74	XSP	iShares Core SP	Pair Corr
0.74	XIC	iShares Core SPTSX	Pair Corr
0.71	ZCN	BMO SPTSX Capped	Pair Corr
0.74	ZSP	BMO SP 500	Pair Corr
0.76	VFV	Vanguard SP 500	Pair Corr
0.72	ZEB	BMO SPTSX Equal	Pair Corr
0.66	TKN-U	Ninepoint Web3 Innovators	Pair Corr

Moving against RBC Etf

0.37

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.9	0.47	0.67	0.35	0.72	-0.64	0.85	0.52	0.6	META
MSFT	0.9		0.47	0.72	0.27	0.64	-0.67	0.95	0.61	0.61	MSFT
UBER	0.47	0.47		0.81	0.13	0.56	0.13	0.59	0.4	0.47	UBER
F	0.67	0.72	0.81		0.25	0.69	-0.26	0.8	0.67	0.72	F
T	0.35	0.27	0.13	0.25		0.52	-0.23	0.27	0.49	0.25	T
A	0.72	0.64	0.56	0.69	0.52		-0.26	0.69	0.66	0.72	A
CRM	-0.64	-0.67	0.13	-0.26	-0.23	-0.26		-0.5	-0.46	-0.33	CRM
JPM	0.85	0.95	0.59	0.8	0.27	0.69	-0.5		0.64	0.64	JPM
MRK	0.52	0.61	0.4	0.67	0.49	0.66	-0.46	0.64		0.63	MRK
XOM	0.6	0.61	0.47	0.72	0.25	0.72	-0.33	0.64	0.63		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

JPM	+ 0.95	MSFT
MSFT	+ 0.9	META
JPM	+ 0.85	META
F	+ 0.81	UBER
JPM	+ 0.8	F
A	+ 0.72	META

High negative correlations

CRM	- 0.67	MSFT
CRM	- 0.64	META
JPM	- 0.5	CRM
MRK	- 0.46	CRM
XOM	- 0.33	CRM
CRM	- 0.26	A

RBC Target Competition Risk-Adjusted Indicators

There is a big difference between RBC Etf performing well and RBC Target 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 RBC Target'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	1.53	0.54	0.27	(0.48)	0.94	(1.88)	3.62	(2.35)	14.28
MSFT	0.69	0.23	0.25	0.49	0.26	(0.80)	2.20	(1.08)	5.71
UBER	1.43	0.01	0.00	0.10	1.58	(1.62)	3.26	(2.54)	11.37
F	1.34	0.07	0.04	0.17	1.55	(1.36)	2.63	(2.33)	7.46
T	0.89	(0.03)	(0.06)	0.04	1.14	(0.95)	2.03	(2.13)	5.71
A	1.48	(0.10)	(0.01)	0.04	1.85	(1.52)	2.82	(2.89)	14.01
CRM	1.18	(0.27)	0.00	(0.11)	0.00	0.00	2.12	(2.94)	8.50
JPM	0.84	0.13	0.11	0.22	0.80	(0.91)	1.83	(1.36)	5.90
MRK	1.44	(0.17)	0.00	(0.04)	0.00	0.00	2.90	(4.13)	10.58
XOM	1.09	0.00	(0.05)	0.13	1.42	(1.09)	2.14	(2.58)	6.26

Be your own money manager

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