Manulife Smart Correlations
| CDIV Etf | CAD 15.39 0.05 0.33% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Manulife Smart moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Manulife Smart Dividend moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Manulife Smart Correlation With Market
Very weak diversification
The correlation between Manulife Smart Dividend and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manulife Smart Dividend and DJI in the same portfolio, assuming nothing else is changed.
Manulife |
The ability to find closely correlated positions to Manulife Smart could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Manulife Smart 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 Manulife Smart - 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 Manulife Smart Dividend to buy it.
Moving together with Manulife Etf
| 0.97 | ZWC | BMO Canadian High | PairCorr |
| 0.96 | XDV | iShares Canadian Select | PairCorr |
| 0.97 | CDZ | iShares SPTSX Canadian | PairCorr |
| 0.96 | PDC | Invesco Canadian Dividend | PairCorr |
| 0.98 | XEI | iShares SPTSX Composite | PairCorr |
| 0.95 | VDY | Vanguard FTSE Canadian | PairCorr |
| 0.97 | ZDV | BMO Canadian Dividend | PairCorr |
| 0.9 | DGRC | CI WisdomTree Canada | PairCorr |
| 0.96 | HXH | Global X Canadian | PairCorr |
| 0.9 | DRMU | Desjardins RI USA | PairCorr |
| 0.81 | FTN | Financial 15 Split | PairCorr |
| 0.88 | DRFG | Desjardins RI Global | PairCorr |
| 0.71 | HAC | Global X Seasonal | PairCorr |
| 0.93 | QCE | Mackenzie Canadian Large | PairCorr |
| 0.95 | QCN | Mackenzie Canadian Equity | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Manulife Smart Constituents Risk-Adjusted Indicators
There is a big difference between Manulife Etf performing well and Manulife Smart 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 Manulife Smart'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BSKT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MUMC | 0.59 | 0.11 | 0.03 | 0.44 | 0.45 | 1.38 | 5.58 | |||
| IDEF-B | 0.06 | (0.01) | 0.00 | 0.20 | 0.00 | 0.00 | 2.20 | |||
| TERM | 0.16 | 0.02 | (0.48) | 0.33 | 0.00 | 0.42 | 0.94 | |||
| CBND | 0.22 | 0.02 | (0.26) | 0.35 | 0.19 | 0.55 | 1.65 | |||
| MINT | 0.52 | (0.01) | (0.18) | (0.25) | 0.70 | 1.24 | 3.38 | |||
| MINT-B | 0.51 | (0.04) | 0.00 | (0.32) | 0.00 | 1.20 | 3.83 | |||
| UDIV | 0.56 | 0.00 | (0.11) | 0.14 | 0.55 | 1.30 | 3.21 | |||
| MUMC-B | 0.63 | 0.15 | 0.17 | 0.48 | 0.00 | 1.45 | 4.85 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Manulife Smart 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.Did you try this?
Run Price Transformation Now
Price TransformationUse Price Transformation models to analyze the depth of different equity instruments across global markets |
| All Next | Launch Module |