Desjardins Canadian Correlations

DCU Etf

CAD 17.89 0.06 0.34%

The current 90-days correlation between Desjardins Canadian and BMO Aggregate Bond is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Desjardins Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Desjardins Canadian Universe moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Desjardins Canadian Correlation With Market

Good diversification

The correlation between Desjardins Canadian Universe 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 Desjardins Canadian Universe and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Desjardins 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 Desjardins 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 Desjardins 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 Desjardins Canadian Universe to buy it.

Moving together with Desjardins Etf

0.86	ZAG	BMO Aggregate Bond	Pair Corr
0.86	XBB	iShares Canadian Universe	Pair Corr
0.86	ZCPB	BMO Core Plus	Pair Corr
0.86	ZDB	BMO Discount Bond	Pair Corr
0.83	XGB	iShares Canadian Gov	Pair Corr
0.79	ZMP	BMO Mid Provincial	Pair Corr
0.66	ZFM	BMO Mid Federal	Pair Corr
0.92	XQB	iShares High Quality	Pair Corr
0.72	HBB	Global X Canadian	Pair Corr
0.82	CCRE	CIBC Core Fixed	Pair Corr
0.8	XLB	iShares Core Canadian	Pair Corr
0.8	VLB	Vanguard Canadian Long	Pair Corr
0.84	VGV	Vanguard Canadian	Pair Corr
0.7	CLF	iShares 1 5	Pair Corr
0.65	DCG	Desjardins 1 5	Pair Corr
0.81	XRB	iShares Canadian Real	Pair Corr
0.62	SITU	Scotia Equity Index	Pair Corr
0.61	GIQU	Guardian i3 Quality	Pair Corr
0.61	XFN	iShares SPTSX Capped	Pair Corr
0.73	ZIC	BMO Mid Term	Pair Corr
0.63	QETH-U	Ether Fund	Pair Corr
0.61	TGRO	TD Growth ETF	Pair Corr
0.67	MCSB	Mackenzie Canadian Short	Pair Corr
0.64	PFAE	Picton Mahoney Fortified	Pair Corr

Related Correlations Analysis

	ZAG	XBB	ZCPB	ZDB	XGB	ZMP	ZFM	XQB	HBB	CCRE
ZAG		0.99	0.97	0.99	0.99	0.92	0.84	0.88	0.88	0.67	ZAG
XBB	0.99		0.97	1.0	0.99	0.92	0.83	0.88	0.88	0.66	XBB
ZCPB	0.97	0.97		0.97	0.97	0.91	0.8	0.88	0.84	0.67	ZCPB
ZDB	0.99	1.0	0.97		0.99	0.93	0.84	0.88	0.87	0.67	ZDB
XGB	0.99	0.99	0.97	0.99		0.94	0.86	0.88	0.88	0.62	XGB
ZMP	0.92	0.92	0.91	0.93	0.94		0.86	0.88	0.79	0.69	ZMP
ZFM	0.84	0.83	0.8	0.84	0.86	0.86		0.75	0.94	0.54	ZFM
XQB	0.88	0.88	0.88	0.88	0.88	0.88	0.75		0.75	0.77	XQB
HBB	0.88	0.88	0.84	0.87	0.88	0.79	0.94	0.75		0.57	HBB
CCRE	0.67	0.66	0.67	0.67	0.62	0.69	0.54	0.77	0.57		CCRE
	ZAG	XBB	ZCPB	ZDB	XGB	ZMP	ZFM	XQB	HBB	CCRE

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Desjardins Canadian Constituents Risk-Adjusted Indicators

There is a big difference between Desjardins Etf performing well and Desjardins 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 Desjardins 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
ZAG	0.30	0.00	(0.06)	0.00	0.34	(0.34)	0.73	(0.57)	1.94
XBB	0.30	0.00	(0.06)	0.08	0.33	(0.34)	0.68	(0.53)	1.94
ZCPB	0.32	0.01	(0.03)	(0.22)	0.34	(0.37)	0.84	(0.61)	1.93
ZDB	0.30	0.00	(0.06)	0.12	0.33	(0.34)	0.80	(0.53)	1.99
XGB	0.32	0.00	(0.04)	(0.17)	0.33	(0.38)	0.78	(0.57)	1.96
ZMP	0.28	0.01	(0.04)	(4.49)	0.31	(0.32)	0.78	(0.58)	1.73
ZFM	0.29	(0.01)	(0.06)	(0.02)	0.30	(0.37)	0.81	(0.54)	1.78
XQB	0.27	0.01	(0.03)	0.28	0.26	(0.33)	0.64	(0.47)	1.79
HBB	0.31	0.00	(0.05)	0.02	0.32	(0.36)	0.81	(0.57)	2.03
CCRE	0.24	(0.01)	(0.08)	(0.06)	0.25	(0.31)	0.56	(0.45)	1.24

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