CI Global Correlations

CLML Etf

33.60 0.55 1.66%

The current 90-days correlation between CI Global Climate and Guardian i3 Global is 0.43 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Global Climate moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI Global Correlation With Market

Weak diversification

The correlation between CI Global Climate and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Climate and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CI Global 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 Global 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 Global - 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 Global Climate to buy it.

Moving together with CLML Etf

0.91	XEQT	iShares Core Equity	Pair Corr
0.89	XAW	iShares Core MSCI	Pair Corr
0.9	DXG	Dynamic Active Global	Pair Corr
0.89	VXC	Vanguard FTSE Global	Pair Corr
0.89	XWD	iShares MSCI World	Pair Corr
0.92	VEQT	Vanguard All Equity	Pair Corr
0.92	XMW	iShares MSCI Min	Pair Corr
0.89	VVL	Vanguard Global Value	Pair Corr
0.91	DRMU	Desjardins RI USA	Pair Corr
0.9	FTN	Financial 15 Split	Pair Corr
0.9	DRFG	Desjardins RI Global	Pair Corr
0.76	HAC	Global X Seasonal	Pair Corr
0.94	QCE	Mackenzie Canadian Large	Pair Corr
0.93	QCN	Mackenzie Canadian Equity	Pair Corr
0.82	FSL	First Trust Senior	Pair Corr
0.91	VMO	Vanguard Global Momentum	Pair Corr
0.93	FHG	FT AlphaDEX Industrials	Pair Corr
0.94	TUED	TD Active Enhanced	Pair Corr
0.81	XCNS	iShares Core Conservative	Pair Corr
0.91	ZWA	BMO Covered Call	Pair Corr
0.92	GDV	Global Dividend Growth	Pair Corr
0.89	CASH	GLOBAL X HIGH	Pair Corr
0.92	FLSA	Fidelity LongShort	Pair Corr
0.7	PYF-B	Purpose Fund Corp	Pair Corr
0.91	VUN	Vanguard Total Market	Pair Corr
0.62	XSH	iShares Core Canadian	Pair Corr
0.7	FCGI	Fidelity Global Monthly	Pair Corr
0.83	MDVD	Mackenzie Global Sus	Pair Corr
0.68	TOCC	TD One Click	Pair Corr
0.84	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.74	XCD	iShares SP Global	Pair Corr
0.81	EGIF	Exemplar Growth	Pair Corr

Related Correlations Analysis

	GIQG	CGRA	FSB	XHB	ALA-PA	ERE-UN	CLU	RUDB	BN-PFI	XEG
GIQG		0.33	0.08	0.86	0.72	0.78	0.49	0.91	0.63	-0.28	GIQG
CGRA	0.33		0.36	0.48	0.6	0.23	0.16	0.4	0.58	-0.35	CGRA
FSB	0.08	0.36		0.3	0.2	-0.01	-0.14	-0.03	0.23	-0.37	FSB
XHB	0.86	0.48	0.3		0.76	0.82	0.58	0.81	0.7	-0.32	XHB
ALA-PA	0.72	0.6	0.2	0.76		0.74	0.35	0.76	0.9	-0.31	ALA-PA
ERE-UN	0.78	0.23	-0.01	0.82	0.74		0.68	0.77	0.72	-0.12	ERE-UN
CLU	0.49	0.16	-0.14	0.58	0.35	0.68		0.48	0.31	0.37	CLU
RUDB	0.91	0.4	-0.03	0.81	0.76	0.77	0.48		0.64	-0.24	RUDB
BN-PFI	0.63	0.58	0.23	0.7	0.9	0.72	0.31	0.64		-0.21	BN-PFI
XEG	-0.28	-0.35	-0.37	-0.32	-0.31	-0.12	0.37	-0.24	-0.21		XEG
	GIQG	CGRA	FSB	XHB	ALA-PA	ERE-UN	CLU	RUDB	BN-PFI	XEG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RUDB	+ 0.91	GIQG
BN-PFI	+ 0.9	ALA-PA
XHB	+ 0.86	GIQG
ERE-UN	+ 0.82	XHB
RUDB	+ 0.81	XHB
ERE-UN	+ 0.78	GIQG

High negative correlations

XEG	- 0.37	FSB
XEG	- 0.35	CGRA
XEG	- 0.32	XHB
XEG	- 0.31	ALA-PA
XEG	- 0.28	GIQG
XEG	- 0.24	RUDB

CI Global Constituents Risk-Adjusted Indicators

There is a big difference between CLML Etf performing well and CI Global 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 Global'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
GIQG	0.63	0.10	0.07	0.75	0.83	(0.69)	1.46	(1.54)	4.89
CGRA	0.19	0.00	(0.02)	0.06	0.30	(0.78)	0.44	(0.62)	3.54
FSB	0.11	(0.02)	0.00	(0.34)	0.00	0.00	0.21	(0.21)	0.93
XHB	0.22	0.02	0.00	0.13	0.11	(0.29)	0.51	(0.35)	1.52
ALA-PA	0.50	0.08	0.08	0.49	0.57	(0.58)	1.15	(1.06)	3.73
ERE-UN	1.21	0.23	0.18	0.17	1.04	(1.65)	2.30	(1.58)	20.23
CLU	0.47	0.00	(0.01)	0.02	0.56	(0.72)	1.02	(0.97)	5.88
RUDB	0.26	0.06	0.07	(0.52)	0.24	(0.30)	0.70	(0.47)	1.96
BN-PFI	0.50	0.05	0.04	(3.88)	0.53	(0.61)	1.10	(1.09)	2.73
XEG	1.14	(0.06)	0.00	(2.42)	0.00	0.00	2.20	(2.24)	8.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in CI Global 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 Portfolio Suggestion Now

Portfolio Suggestion

Get suggestions outside of your existing asset allocation including your own model portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC