Hamilton Utilities Correlations

UMAX Etf

13.45 0.02 0.15%

The current 90-days correlation between Hamilton Utilities YIELD and Hamilton Technology Yield is -0.23 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Utilities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Utilities YIELD moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Utilities Correlation With Market

Average diversification

The correlation between Hamilton Utilities YIELD and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Utilities YIELD and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hamilton Utilities 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 Utilities 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 Utilities - 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 Utilities YIELD to buy it.

Moving together with Hamilton Etf

0.88	ZWU	BMO Covered Call	Pair Corr
0.65	COW	iShares Global Agric	Pair Corr

Moving against Hamilton Etf

0.76	XIT	iShares SPTSX Capped	Pair Corr
0.65	HMMJ	Global X Marijuana	Pair Corr
0.5	TEC	TD Global Technology	Pair Corr
0.46	CYBR	Evolve Cyber Security	Pair Corr

Related Correlations Analysis

	SMAX	VGH	WSRI	WSRD	QAH	PDC	VEF	HDIV	XHY	QMAX
SMAX		0.09	0.11	0.32	0.32	-0.34	-0.03	-0.07	0.0	0.59	SMAX
VGH	0.09		0.88	0.8	0.84	0.59	0.87	0.91	0.91	-0.4	VGH
WSRI	0.11	0.88		0.83	0.64	0.45	0.83	0.88	0.85	-0.46	WSRI
WSRD	0.32	0.8	0.83		0.79	0.26	0.87	0.82	0.83	-0.28	WSRD
QAH	0.32	0.84	0.64	0.79		0.33	0.74	0.78	0.81	-0.02	QAH
PDC	-0.34	0.59	0.45	0.26	0.33		0.51	0.54	0.5	-0.57	PDC
VEF	-0.03	0.87	0.83	0.87	0.74	0.51		0.93	0.92	-0.61	VEF
HDIV	-0.07	0.91	0.88	0.82	0.78	0.54	0.93		0.94	-0.49	HDIV
XHY	0.0	0.91	0.85	0.83	0.81	0.5	0.92	0.94		-0.48	XHY
QMAX	0.59	-0.4	-0.46	-0.28	-0.02	-0.57	-0.61	-0.49	-0.48		QMAX
	SMAX	VGH	WSRI	WSRD	QAH	PDC	VEF	HDIV	XHY	QMAX

Please upgrade your account to get full access to Macroaxis premium features

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

XHY	+ 0.94	HDIV
HDIV	+ 0.93	VEF
XHY	+ 0.92	VEF
HDIV	+ 0.91	VGH
XHY	+ 0.91	VGH
WSRI	+ 0.88	VGH

High negative correlations

QMAX	- 0.61	VEF
QMAX	- 0.57	PDC
QMAX	- 0.49	HDIV
QMAX	- 0.48	XHY
QMAX	- 0.46	WSRI
QMAX	- 0.4	VGH

Hamilton Utilities Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton Utilities 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 Utilities' 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
SMAX	0.52	(0.09)	0.00	(0.17)	0.00	0.00	0.98	(1.25)	3.44
VGH	0.53	0.03	0.02	0.11	0.61	(0.56)	1.02	(1.02)	2.96
WSRI	0.48	0.06	0.07	0.21	0.37	(0.57)	1.11	(0.74)	3.20
WSRD	0.49	0.00	(0.04)	0.03	0.54	(0.57)	1.13	(1.04)	2.97
QAH	0.56	(0.04)	0.00	(0.05)	0.00	0.00	1.01	(1.24)	4.76
PDC	0.43	0.06	0.04	0.42	0.69	(0.42)	0.90	(0.90)	4.31
VEF	0.51	0.09	0.08	0.28	0.64	(0.50)	1.19	(1.03)	3.32
HDIV	0.58	0.07	0.05	0.20	0.81	(0.60)	1.15	(1.38)	4.50
XHY	0.18	0.01	(0.12)	0.16	0.12	(0.22)	0.36	(0.30)	0.91
QMAX	0.99	(0.33)	0.00	(0.50)	0.00	0.00	1.89	(2.63)	7.60

Be your own money manager

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

Did you try this?

Run Financial Widgets Now

Financial Widgets

Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC