CI Canadian Correlations

CAGS Etf

CAD 47.32 0.07 0.15%

The current 90-days correlation between CI Canadian Short and NBI High Yield is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Canadian Short Term moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI Canadian Correlation With Market

Good diversification

The correlation between CI Canadian Short Term and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Canadian Short Term and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CAGS Etf

0.81	XSB	iShares Canadian Short	Pair Corr
0.76	XSH	iShares Core Canadian	Pair Corr
0.77	ZCS	BMO Short Corporate	Pair Corr
0.82	VSB	Vanguard Canadian Short	Pair Corr
0.79	CBO	iShares 1 5	Pair Corr
0.81	PSB	Invesco 1 5	Pair Corr
0.78	CLF	iShares 1 5	Pair Corr
0.81	ZFS	BMO Short Federal	Pair Corr
0.76	TOCC	TD One Click	Pair Corr
0.73	FINC	Forstrong Global Income	Pair Corr

Related Correlations Analysis

	CAGS	NHYB	AGLB	NUBF	QDXB	ZSB	ZBI	GDEP	LIFE-U
CAGS		0.47	0.0	0.28	0.64	0.93	0.52	0.35	-0.29	CAGS
NHYB	0.47		0.0	0.28	0.6	0.52	0.55	0.6	-0.54	NHYB
AGLB	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AGLB
NUBF	0.28	0.28	0.0		0.63	0.3	-0.25	-0.26	0.35	NUBF
QDXB	0.64	0.6	0.0	0.63		0.65	0.4	0.33	-0.32	QDXB
ZSB	0.93	0.52	0.0	0.3	0.65		0.6	0.44	-0.35	ZSB
ZBI	0.52	0.55	0.0	-0.25	0.4	0.6		0.88	-0.87	ZBI
GDEP	0.35	0.6	0.0	-0.26	0.33	0.44	0.88		-0.85	GDEP
LIFE-U	-0.29	-0.54	0.0	0.35	-0.32	-0.35	-0.87	-0.85		LIFE-U
	CAGS	NHYB	AGLB	NUBF	QDXB	ZSB	ZBI	GDEP	LIFE-U

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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

ZSB	+ 0.93	CAGS
GDEP	+ 0.88	ZBI
ZSB	+ 0.65	QDXB
QDXB	+ 0.64	CAGS
QDXB	+ 0.63	NUBF
QDXB	+ 0.6	NHYB

High negative correlations

LIFE-U	- 0.87	ZBI
LIFE-U	- 0.85	GDEP
LIFE-U	- 0.54	NHYB
LIFE-U	- 0.35	ZSB
LIFE-U	- 0.32	QDXB
LIFE-U	- 0.29	CAGS

CI Canadian Constituents Risk-Adjusted Indicators

There is a big difference between CAGS Etf performing well and CI Canadian 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 CI Canadian'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
CAGS	0.11	0.00	(0.16)	0.38	0.12	(0.12)	0.30	(0.23)	0.87
NHYB	0.28	(0.02)	0.00	(0.34)	0.00	0.00	0.59	(0.73)	1.75
AGLB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUBF	0.32	(0.03)	0.00	(0.68)	0.00	0.00	0.66	(0.74)	2.31
QDXB	0.30	0.00	(0.05)	(0.14)	0.36	(0.30)	0.65	(0.64)	1.74
ZSB	0.13	0.00	(0.20)	0.42	0.11	(0.17)	0.31	(0.21)	0.72
ZBI	0.11	0.02	(0.01)	0.46	0.00	(0.14)	0.23	(0.23)	1.50
GDEP	0.31	0.02	0.00	0.52	0.38	(0.33)	0.65	(0.78)	1.91
LIFE-U	0.44	(0.25)	0.00	(12.28)	0.00	0.00	0.23	(1.71)	3.59

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