Desjardins Correlations

DCC Etf

CAD 18.83 0.08 0.43%

The current 90-days correlation between Desjardins 1 5 and Desjardins 1 5 Year is 0.41 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Desjardins moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Desjardins 1 5 Year moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Desjardins Correlation With Market

Good diversification

The correlation between Desjardins 1 5 Year and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Desjardins 1 5 Year and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Desjardins could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Desjardins 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 Desjardins - 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 Desjardins 1 5 Year to buy it.

Moving together with Desjardins Etf

0.85	XSB	iShares Canadian Short	Pair Corr
0.66	XSH	iShares Core Canadian	Pair Corr
0.86	ZCS	BMO Short Corporate	Pair Corr
0.86	VSB	Vanguard Canadian Short	Pair Corr
0.61	ZST	BMO Ultra Short	Pair Corr
0.94	CBO	iShares 1 5	Pair Corr
0.89	PSB	Invesco 1 5	Pair Corr
0.81	XFR	iShares Floating Rate	Pair Corr
0.82	CLF	iShares 1 5	Pair Corr
0.67	ZFS	BMO Short Federal	Pair Corr
0.7	XIT	iShares SPTSX Capped	Pair Corr
0.74	XQQ	iShares NASDAQ 100	Pair Corr
0.75	ZQQ	BMO NASDAQ 100	Pair Corr
0.72	ZUQ	BMO MSCI USA	Pair Corr
0.76	ZSP	BMO SP 500	Pair Corr
0.76	UBIL-U	Global X 0	Pair Corr
0.68	BTCC	Purpose Bitcoin CAD	Pair Corr
0.81	QCLN	First Trust Nasdaq	Pair Corr
0.79	ZGRO	BMO Growth ETF	Pair Corr
0.76	QETH-U	Ether Fund	Pair Corr
0.82	QQCL	Global X Enhanced	Pair Corr
0.79	CASH	GLOBAL X HIGH	Pair Corr
0.77	SITU	Scotia Equity Index	Pair Corr
0.71	FBTC	Fidelity Advantage	Pair Corr
0.79	USCL	Global X Enhanced	Pair Corr
0.88	ZUAG	BMO Aggregate Bond	Pair Corr
0.9	ZIC	BMO Mid Term	Pair Corr
0.77	HPR	Global X Active	Pair Corr
0.69	TERM	Manulife Smart Short	Pair Corr

Related Correlations Analysis

	DCG	DCS	DCU	DCP	DXO
DCG		0.94	0.65	0.71	0.29	DCG
DCS	0.94		0.69	0.78	0.41	DCS
DCU	0.65	0.69		0.25	0.74	DCU
DCP	0.71	0.78	0.25		0.17	DCP
DXO	0.29	0.41	0.74	0.17		DXO
	DCG	DCS	DCU	DCP	DXO

Click cells to compare fundamentals

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Desjardins Constituents Risk-Adjusted Indicators

There is a big difference between Desjardins Etf performing well and Desjardins 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 Desjardins' 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
DCG	0.10	0.00	(0.12)	0.12	0.05	(0.17)	0.33	(0.22)	0.72
DCS	0.10	0.00	(0.09)	(0.51)	0.06	(0.15)	0.27	(0.21)	0.90
DCU	0.27	0.00	(0.05)	(0.18)	0.29	(0.32)	0.56	(0.50)	1.63
DCP	0.48	0.09	0.08	(1.27)	0.69	(0.50)	1.22	(1.48)	3.82
DXO	0.19	0.00	(0.07)	0.01	0.22	(0.22)	0.41	(0.41)	1.23

Be your own money manager

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