Edgepoint Cdn Correlations

0P0000JO4R

31.21 0.06 0.19%

The current 90-days correlation between Edgepoint Cdn Growth and Bloom Select Income is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Edgepoint Cdn moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edgepoint Cdn Growth moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Edgepoint Cdn Correlation With Market

Significant diversification

The correlation between Edgepoint Cdn Growth and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edgepoint Cdn Growth and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Edgepoint Fund

0.72	0P0000IUYO	Edgepoint Global Por	Pair Corr
0.85	0P0001FAU8	TD Comfort Balanced	Pair Corr

Related Correlations Analysis

	BLB-UN	0P0000VPWA	SSF-UN	0P0000JO4R	JFS-UN	WAAV	0P00016N6E	0P0000732C	GIGC
BLB-UN		0.23	0.68	0.49	-0.04	-0.14	0.63	-0.01	-0.6	BLB-UN
0P0000VPWA	0.23		0.29	0.45	-0.35	-0.09	0.62	-0.28	-0.3	0P0000VPWA
SSF-UN	0.68	0.29		0.49	-0.04	-0.09	0.73	0.03	-0.77	SSF-UN
0P0000JO4R	0.49	0.45	0.49		-0.61	-0.01	0.71	-0.31	-0.34	0P0000JO4R
JFS-UN	-0.04	-0.35	-0.04	-0.61		-0.14	-0.24	0.58	-0.17	JFS-UN
WAAV	-0.14	-0.09	-0.09	-0.01	-0.14		-0.37	-0.59	0.37	WAAV
0P00016N6E	0.63	0.62	0.73	0.71	-0.24	-0.37		0.11	-0.73	0P00016N6E
0P0000732C	-0.01	-0.28	0.03	-0.31	0.58	-0.59	0.11		-0.33	0P0000732C
GIGC	-0.6	-0.3	-0.77	-0.34	-0.17	0.37	-0.73	-0.33		GIGC
	BLB-UN	0P0000VPWA	SSF-UN	0P0000JO4R	JFS-UN	WAAV	0P00016N6E	0P0000732C	GIGC

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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

0P00016N6E	+ 0.73	SSF-UN
0P00016N6E	+ 0.71	0P0000JO4R
SSF-UN	+ 0.68	BLB-UN
0P00016N6E	+ 0.63	BLB-UN
0P00016N6E	+ 0.62	0P0000VPWA
0P0000732C	+ 0.58	JFS-UN

High negative correlations

GIGC	- 0.77	SSF-UN
GIGC	- 0.73	0P00016N6E
JFS-UN	- 0.61	0P0000JO4R
GIGC	- 0.6	BLB-UN
0P0000732C	- 0.59	WAAV
0P00016N6E	- 0.37	WAAV

Risk-Adjusted Indicators

There is a big difference between Edgepoint Fund performing well and Edgepoint Cdn 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 Edgepoint Cdn'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
BLB-UN	0.42	0.00	0.00	0.02	0.62	(1.76)	1.79	(1.86)	4.46
0P0000VPWA	0.27	(0.02)	0.00	(0.61)	0.00	0.00	0.54	(0.53)	1.80
SSF-UN	0.53	0.02	0.02	0.05	0.79	(0.57)	1.48	(1.44)	3.97
0P0000JO4R	0.43	(0.01)	(0.01)	(0.99)	0.55	(0.42)	0.81	(0.95)	2.20
JFS-UN	0.89	(0.05)	0.00	0.65	0.00	0.00	1.72	(1.90)	5.89
WAAV	0.22	0.02	0.03	(0.24)	0.23	(0.73)	0.87	(0.77)	3.08
0P00016N6E	0.58	0.01	0.01	(0.10)	0.82	(0.57)	1.15	(1.27)	3.46
0P0000732C	1.18	0.07	0.03	0.39	2.06	(1.08)	2.07	(2.17)	9.42
GIGC	0.38	0.17	0.00	(0.40)	0.00	0.00	0.42	0.00	11.74

Edgepoint Cdn Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Edgepoint Cdn fund to make a market-neutral strategy. Peer analysis of Edgepoint Cdn could also be used in its relative valuation, which is a method of valuing Edgepoint Cdn by comparing valuation metrics with similar companies.

Bloom Select Income Dynamic Alternative Yield Symphony Floating Rate Edgepoint Cdn Growth JFT Strategies WaveFront All Weather Alternative TD Dividend Growth Ninepoint Energy Guardian Investment Grade American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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