Desjardins American Correlations

DMEU Etf

23.50 0.34 1.47%

The current 90-days correlation between Desjardins American and Desjardins RI Canada is 0.72 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Desjardins American moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Desjardins American Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Desjardins American Correlation With Market

Very weak diversification

The correlation between Desjardins American Equity and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Desjardins American Equity and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Desjardins American 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 American 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 American - 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 American Equity to buy it.

Moving together with Desjardins Etf

0.66	XSP	iShares Core SP	Pair Corr
0.75	ZSP	BMO SP 500	Pair Corr
0.74	VFV	Vanguard SP 500	Pair Corr
1.0	HXS	Global X SP	Pair Corr
1.0	XUS	iShares Core SP	Pair Corr
0.97	ZUE	BMO SP 500	Pair Corr
0.98	VSP	Vanguard SP 500	Pair Corr
0.94	XQQ	iShares NASDAQ 100	Pair Corr
0.91	XUU	iShares Core SP	Pair Corr

Moving against Desjardins Etf

0.52	ZCH	BMO MSCI China	Pair Corr
0.31	HGU	BetaPro Canadian Gold	Pair Corr
0.52	HUTL	Harvest Equal Weight	Pair Corr
0.46	ZWP	BMO Europe High	Pair Corr
0.4	ZST	BMO Ultra Short	Pair Corr
0.31	VSB	Vanguard Canadian Short	Pair Corr
0.56	XMI	iShares MSCI Min	Pair Corr
0.52	PID	Purpose International	Pair Corr
0.43	PMIF	PIMCO Monthly Income	Pair Corr
0.41	VE	Vanguard FTSE Developed	Pair Corr
0.33	QSB	Mackenzie Canadian	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.14	0.66	-0.48	0.43	0.36	0.16	0.89	-0.77	0.14	META
MSFT	-0.14		-0.64	0.31	-0.77	0.65	0.89	0.0	0.49	-0.33	MSFT
UBER	0.66	-0.64		-0.48	0.8	-0.23	-0.55	0.58	-0.86	0.46	UBER
F	-0.48	0.31	-0.48		-0.2	0.12	0.15	-0.38	0.62	0.23	F
T	0.43	-0.77	0.8	-0.2		-0.54	-0.68	0.25	-0.68	0.48	T
A	0.36	0.65	-0.23	0.12	-0.54		0.75	0.58	0.12	-0.11	A
CRM	0.16	0.89	-0.55	0.15	-0.68	0.75		0.24	0.3	-0.38	CRM
JPM	0.89	0.0	0.58	-0.38	0.25	0.58	0.24		-0.65	0.16	JPM
MRK	-0.77	0.49	-0.86	0.62	-0.68	0.12	0.3	-0.65		-0.31	MRK
XOM	0.14	-0.33	0.46	0.23	0.48	-0.11	-0.38	0.16	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.75	A
UBER	+ 0.66	META
A	+ 0.65	MSFT

High negative correlations

MRK	- 0.86	UBER
T	- 0.77	MSFT
MRK	- 0.77	META
MRK	- 0.68	T
CRM	- 0.68	T
MRK	- 0.65	JPM

Desjardins American Competition Risk-Adjusted Indicators

There is a big difference between Desjardins Etf performing well and Desjardins American 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 American'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
META	1.61	0.01	0.00	(0.08)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.15)	0.00	(0.32)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.94	0.22	0.10	0.31	2.41	(2.00)	4.72	(3.30)	12.75
F	1.44	0.07	0.00	(0.03)	0.00	0.00	2.71	(2.89)	10.14
T	1.05	0.26	0.17	0.38	1.59	(1.13)	1.90	(1.75)	11.66
A	1.13	(0.12)	0.00	(0.22)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.06	0.00	(0.04)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.17	(0.07)	0.00	1.31	0.00	0.00	2.07	(1.80)	11.58
XOM	1.05	0.07	0.09	0.06	1.38	(1.09)	2.55	(2.36)	5.89

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