Wealthsimple Developed Correlations

WSRD Etf  CAD 33.13  0.65  2.00%   
The current 90-days correlation between Wealthsimple Developed and iShares Core MSCI is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Wealthsimple Developed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wealthsimple Developed Markets moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
  
The ability to find closely correlated positions to Wealthsimple Developed could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wealthsimple Developed 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 Wealthsimple Developed - 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 Wealthsimple Developed Markets to buy it.

Moving together with Wealthsimple Etf

  0.98XEF iShares Core MSCIPairCorr
  0.98ZEA BMO MSCI EAFEPairCorr
  0.96VIU Vanguard FTSE DevelopedPairCorr
  0.97XIN iShares MSCI EAFEPairCorr
  0.97XFH iShares Core MSCIPairCorr
  0.97ZDM BMO MSCI EAFEPairCorr
  0.78ZLI BMO Low VolatilityPairCorr
  0.96VDU Vanguard FTSE DevelopedPairCorr
  0.96VEF Vanguard FTSE DevelopedPairCorr
  0.68HAF Global X ActivePairCorr
  0.65HXE Global X SPTSXPairCorr
  0.9XIT iShares SPTSX CappedPairCorr

Moving against Wealthsimple Etf

  0.72HED BetaPro SPTSX CappedPairCorr

Related Correlations Analysis

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Wealthsimple Developed Constituents Risk-Adjusted Indicators

There is a big difference between Wealthsimple Etf performing well and Wealthsimple Developed 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 Wealthsimple Developed'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
XEF  0.54  0.14 (0.04) 4.64  0.34 
 1.45 
 3.19 
ZEA  0.56  0.13 (0.05) 2.90  0.38 
 1.36 
 3.59 
VIU  0.55  0.15 (0.02) 4.68  0.37 
 1.19 
 3.03 
XIN  0.54  0.14 (0.05)(5.78) 0.38 
 1.66 
 4.24 
XFH  0.52  0.16 (0.02)(6.69) 0.30 
 1.37 
 3.64 
ZDM  0.57  0.14 (0.04)(7.18) 0.45 
 1.34 
 4.28 
WSRD  0.59  0.00 (0.09) 0.00  0.45 
 1.45 
 3.83 
ZLI  0.46  0.05 (0.19)(1.71) 0.51 
 1.11 
 2.91 
VDU  0.52  0.15 (0.02) 6.09  0.30 
 1.32 
 3.28 
VEF  0.51  0.17  0.00 (3.62) 0.31 
 1.20 
 3.69 

Be your own money manager

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