Tangerine Balanced Correlations

0P0000ACFS

CAD 22.86 0.11 0.48%

The current 90-days correlation between Tangerine Balanced Growth and Fidelity Tactical High is 0.49 (i.e., Very weak diversification). The correlation of Tangerine Balanced 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.

Tangerine Balanced Correlation With Market

Good diversification

The correlation between Tangerine Balanced Growth and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tangerine Balanced Growth and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Tangerine 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 Tangerine 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 Tangerine 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 Tangerine Balanced Growth to buy it.

Moving together with Tangerine Fund

0.65

0P0000I3XT

Fidelity AsiaStar Series

Pair Corr

Moving against Tangerine Fund

0.48

0P0000732C

Ninepoint Energy

Pair Corr

Related Correlations Analysis

	0P0000ACFS	FTHI	0P00007694	BLB-UN	0P0001N8MZ	0P000075GQ	HIG	0P0000VPWA	0P000070HA
0P0000ACFS		0.57	0.69	0.17	0.79	0.29	0.72	0.58	0.1	0P0000ACFS
FTHI	0.57		0.39	0.5	0.23	0.16	0.21	0.76	0.72	FTHI
0P00007694	0.69	0.39		0.18	0.28	0.72	0.24	0.49	0.3	0P00007694
BLB-UN	0.17	0.5	0.18		-0.15	0.02	-0.24	0.23	0.67	BLB-UN
0P0001N8MZ	0.79	0.23	0.28	-0.15		0.03	0.92	0.32	-0.31	0P0001N8MZ
0P000075GQ	0.29	0.16	0.72	0.02	0.03		-0.01	0.35	0.26	0P000075GQ
HIG	0.72	0.21	0.24	-0.24	0.92	-0.01		0.34	-0.38	HIG
0P0000VPWA	0.58	0.76	0.49	0.23	0.32	0.35	0.34		0.45	0P0000VPWA
0P000070HA	0.1	0.72	0.3	0.67	-0.31	0.26	-0.38	0.45		0P000070HA
	0P0000ACFS	FTHI	0P00007694	BLB-UN	0P0001N8MZ	0P000075GQ	HIG	0P0000VPWA	0P000070HA

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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

HIG	+ 0.92	0P0001N8MZ
0P0001N8MZ	+ 0.79	0P0000ACFS
0P0000VPWA	+ 0.76	FTHI
HIG	+ 0.72	0P0000ACFS
0P000070HA	+ 0.72	FTHI
0P000075GQ	+ 0.72	0P00007694

High negative correlations

0P000070HA	- 0.38	HIG
0P000070HA	- 0.31	0P0001N8MZ
HIG	- 0.24	BLB-UN
0P0001N8MZ	- 0.15	BLB-UN
HIG	- 0.01	0P000075GQ

Risk-Adjusted Indicators

There is a big difference between Tangerine Fund performing well and Tangerine Balanced 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 Tangerine 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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
0P0000ACFS	0.47	(0.02)	0.00	0.24	0.00	0.00	0.83	(1.16)	2.61
FTHI	0.54	(0.02)	0.00	0.69	0.00	0.00	1.32	(1.26)	3.79
0P00007694	0.70	(0.10)	0.00	0.67	0.00	0.00	1.16	(1.63)	6.45
BLB-UN	0.42	0.01	0.05	(0.01)	0.62	(1.76)	1.79	(1.86)	4.46
0P0001N8MZ	0.57	0.05	0.14	0.37	0.73	(0.55)	1.21	(1.12)	3.25
0P000075GQ	0.10	(0.05)	0.00	0.96	0.00	0.00	0.11	0.00	2.04
HIG	0.60	0.05	0.15	0.93	0.64	(0.71)	1.31	(1.23)	3.61
0P0000VPWA	0.27	(0.03)	0.00	(1.19)	0.00	0.00	0.54	(0.53)	1.80
0P000070HA	1.36	(0.23)	0.00	(1.52)	0.00	0.00	2.24	(3.25)	8.21

Be your own money manager

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