TD Index Correlations

0P000071W8

CAD 142.49 0.37 0.26%

The current 90-days correlation between TD Index Fund and Global Iman Fund is -0.21 (i.e., Very good diversification). The correlation of TD Index is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

TD Index Correlation With Market

Good diversification

The correlation between TD Index Fund and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD Index Fund and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with 0P000071W8 Fund

1.0	0P0000OXA6	PHN Multi Style	Pair Corr
0.96	0P000077P2	RBC Dividend	Pair Corr
0.63	0P0000716B	Mawer Equity A	Pair Corr
0.72	0P000070HA	CI Global Alpha	Pair Corr
0.75	0P00007138	RBC sciences biologiques	Pair Corr
0.72	0P0000733H	RBC Global Technology	Pair Corr
0.8	0P0000724E	CDSPI SP 500	Pair Corr
0.83	0P0000MOTX	Manulife Global Equity	Pair Corr

Related Correlations Analysis

	0P000071W8	0P0000NA77	ENF	TDB902	FTHI	0P00007694	BLB-UN	0P0001N8MZ	0P000075GQ
0P000071W8		0.91	0.0	0.9	0.81	0.1	0.53	0.1	0.13	0P000071W8
0P0000NA77	0.91		0.0	0.92	0.78	0.06	0.62	0.08	0.13	0P0000NA77
ENF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	ENF
TDB902	0.9	0.92	0.0		0.85	0.02	0.54	0.0	0.09	TDB902
FTHI	0.81	0.78	0.0	0.85		0.39	0.45	0.13	0.27	FTHI
0P00007694	0.1	0.06	0.0	0.02	0.39		0.22	0.36	0.58	0P00007694
BLB-UN	0.53	0.62	0.0	0.54	0.45	0.22		-0.12	0.28	BLB-UN
0P0001N8MZ	0.1	0.08	0.0	0.0	0.13	0.36	-0.12		0.12	0P0001N8MZ
0P000075GQ	0.13	0.13	0.0	0.09	0.27	0.58	0.28	0.12		0P000075GQ
	0P000071W8	0P0000NA77	ENF	TDB902	FTHI	0P00007694	BLB-UN	0P0001N8MZ	0P000075GQ

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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

TDB902	+ 0.92	0P0000NA77
0P0000NA77	+ 0.91	0P000071W8
TDB902	+ 0.9	0P000071W8
FTHI	+ 0.85	TDB902
FTHI	+ 0.81	0P000071W8
FTHI	+ 0.78	0P0000NA77

High negative correlations

0P0001N8MZ	- 0.12	BLB-UN
0P0001N8MZ	- 0.0	TDB902
0P000075GQ	- 0.0	ENF
0P0001N8MZ	- 0.0	ENF
BLB-UN	- 0.0	ENF
0P00007694	- 0.0	ENF

Risk-Adjusted Indicators

There is a big difference between 0P000071W8 Fund performing well and TD Index Fund 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 TD Index'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
0P000071W8	0.72	(0.12)	0.00	4.36	0.00	0.00	1.61	(1.52)	4.10
0P0000NA77	0.87	(0.07)	0.00	(0.19)	0.00	0.00	1.47	(2.30)	5.20
ENF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TDB902	0.75	(0.10)	0.00	(0.22)	0.00	0.00	1.61	(1.52)	4.10
FTHI	0.53	(0.04)	0.00	(0.17)	0.00	0.00	1.04	(1.26)	3.79
0P00007694	0.71	(0.11)	0.00	0.72	0.00	0.00	1.16	(1.63)	6.45
BLB-UN	0.42	0.00	0.02	(0.01)	0.62	(1.76)	1.79	(1.86)	4.46
0P0001N8MZ	0.57	0.04	0.09	0.48	0.73	(0.55)	1.21	(1.12)	3.25
0P000075GQ	0.10	(0.05)	0.00	3.23	0.00	0.00	0.11	0.00	2.04

Be your own money manager

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