BMO Balanced Correlations

ZBAL Etf

CAD 14.78 0.17 1.14%

The current 90-days correlation between BMO Balanced ETF and BMO Growth ETF is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BMO Balanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Balanced ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BMO Balanced Correlation With Market

Average diversification

The correlation between BMO Balanced ETF and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BMO Balanced ETF and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BMO Etf

0.99	VBAL	Vanguard Balanced	Pair Corr
0.99	XBAL	iShares Core Balanced	Pair Corr
0.97	ZMI	BMO Monthly Income	Pair Corr
0.98	GBAL	iShares ESG Balanced	Pair Corr
0.99	XCNS	iShares Core Conservative	Pair Corr
0.99	MBAL	Mackenzie Balanced	Pair Corr
0.95	CGAA	CI Global Asset	Pair Corr
0.98	XIU	iShares SPTSX 60	Pair Corr
0.97	XSP	iShares Core SP	Pair Corr
0.98	XIC	iShares Core SPTSX	Pair Corr
0.86	ZAG	BMO Aggregate Bond	Pair Corr
0.87	XBB	iShares Canadian Universe	Pair Corr
0.98	ZCN	BMO SPTSX Capped	Pair Corr
0.98	ZSP	BMO SP 500	Pair Corr
0.71	TCLB	TD Canadian Long	Pair Corr
0.98	VFV	Vanguard SP 500	Pair Corr
0.97	ZEB	BMO SPTSX Equal	Pair Corr
0.8	XHD	iShares High Dividend	Pair Corr
0.95	IGAF	IA Clarington Loomis	Pair Corr
0.88	GCFE	Guardian Canadian Focused	Pair Corr
0.96	TBCE	TD Target 2025	Pair Corr
0.7	QQEQ	Invesco NASDAQ 100	Pair Corr
0.85	U-UN	Sprott Physical Uranium	Pair Corr
0.89	PLV	Invesco Low Volatility	Pair Corr
0.82	RBOT	Global X Robotics	Pair Corr
0.98	TOCC	TD One Click	Pair Corr
0.94	IGB	Purpose Global Bond	Pair Corr
0.9	XTLT	iShares 20 Year	Pair Corr
0.95	UDIV	Manulife Smart Dividend	Pair Corr
0.99	HBAL	Global X Balanced	Pair Corr
0.91	BREA	Brompton Sustainable Real	Pair Corr
0.7	FETH	Fidelity Advantage Ether	Pair Corr
0.78	EDGF	Brompton European	Pair Corr
0.98	HXT	Global X SPTSX	Pair Corr
0.96	ZJK	BMO High Yield	Pair Corr
0.88	CAPW	Capital Group World	Pair Corr
0.97	SITC	Scotia Canadian Large	Pair Corr
0.97	SITU	Scotia Equity Index	Pair Corr

Moving against BMO Etf

0.8

ZESG

BMO Balanced ESG

Pair Corr

Related Correlations Analysis

	ZGRO	ZCON	XBAL	VBAL	VCNS
ZGRO		-0.83	1.0	1.0	0.99	ZGRO
ZCON	-0.83		-0.83	-0.83	-0.82	ZCON
XBAL	1.0	-0.83		1.0	1.0	XBAL
VBAL	1.0	-0.83	1.0		1.0	VBAL
VCNS	0.99	-0.82	1.0	1.0		VCNS
	ZGRO	ZCON	XBAL	VBAL	VCNS

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

XBAL	+ 1.0	ZGRO
VBAL	+ 1.0	ZGRO
VBAL	+ 1.0	XBAL
VCNS	+ 1.0	XBAL
VCNS	+ 1.0	VBAL
VCNS	+ 0.99	ZGRO

High negative correlations

VBAL	- 0.83	ZCON
XBAL	- 0.83	ZCON
ZCON	- 0.83	ZGRO
VCNS	- 0.82	ZCON

BMO Balanced Constituents Risk-Adjusted Indicators

There is a big difference between BMO Etf performing well and BMO Balanced 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 BMO Balanced'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ZGRO	0.31	0.11	0.18	0.70	(0.38)	0.75	(0.38)	2.09
ZCON	1.99	(0.94)	0.00	(4.73)	0.00	0.57	(0.45)	67.34
XBAL	0.23	0.09	0.15	0.69	(0.29)	0.56	(0.34)	1.13
VBAL	0.25	0.09	0.16	0.78	(0.32)	0.65	(0.38)	1.73
VCNS	0.18	0.06	0.06	0.59	(0.24)	0.42	(0.27)	0.83

Be your own money manager

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