Dynamic Active Correlations

Etfs . Canada . 
Etf . Dynamic Active Ultra
DXV Etf  CAD 19.66  0.04  0.20%   
The current 90-days correlation between Dynamic Active Ultra and Dynamic Active Crossover is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dynamic Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dynamic Active Ultra moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
  
The ability to find closely correlated positions to Dynamic Active could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dynamic Active 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 Dynamic Active - 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 Dynamic Active Ultra to buy it.

Moving together with Dynamic Etf

  0.71XSH iShares Core CanadianPairCorr
  0.65ZCS BMO Short CorporatePairCorr
  0.95ZST BMO Ultra ShortPairCorr
  0.95XFR iShares Floating RatePairCorr
  0.84HQU BetaPro NASDAQ 100PairCorr
  0.87XIT iShares SPTSX CappedPairCorr
  0.86HSU BetaPro SP 500PairCorr
  0.91FHQ First Trust AlphaDEXPairCorr
  0.89ZUQ BMO MSCI USAPairCorr
  0.86XQQ iShares NASDAQ 100PairCorr
  0.86ZQQ BMO NASDAQ 100PairCorr
  0.91HFU BetaPro SPTSX CappedPairCorr
  0.92VFV Vanguard SP 500PairCorr
  0.92ZSP BMO SP 500PairCorr

Related Correlations Analysis

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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   
DXF
+ 0.94
DXC
DXP
+ 0.69
DXO
DXF
+ 0.62
DXO
DXC
+ 0.6
DXO
DXB
+ 0.47
DXO
DXP
+ 0.43
DXB
  
High negative correlations   
DXC
- 0.33
DXB
DXF
- 0.29
DXB

Dynamic Active Constituents Risk-Adjusted Indicators

There is a big difference between Dynamic Etf performing well and Dynamic Active 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 Dynamic Active'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.

Be your own money manager

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