CI Investment Correlations

FIG Etf

CAD 9.54 0.09 0.95%

The current 90-days correlation between CI Investment Grade and CI Enhanced Short is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Investment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Investment Grade moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI Investment Correlation With Market

Good diversification

The correlation between CI Investment Grade and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Investment Grade and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CI Investment 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 Investment 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 Investment - 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 Investment Grade to buy it.

Moving together with FIG Etf

0.63	ZSU	BMO Short Term	Pair Corr
0.61	XIG	iShares IG Corporate	Pair Corr

Moving against FIG Etf

0.67	HEU	BetaPro SP TSX	Pair Corr
0.65	HXE	Global X SPTSX	Pair Corr
0.64	XEG	iShares SPTSX Capped	Pair Corr
0.49	HPF	Energy Leaders Plus	Pair Corr
0.49	ENCC	Global X Canadian	Pair Corr
0.47	ZEO	BMO Equal Weight	Pair Corr
0.42	JAPN	CI WisdomTree Japan	Pair Corr

Related Correlations Analysis

	FSB	HAB	MUB	FGO	ZCS
FSB		0.2	0.35	0.77	0.13	FSB
HAB	0.2		0.63	-0.04	0.86	HAB
MUB	0.35	0.63		0.16	0.63	MUB
FGO	0.77	-0.04	0.16		-0.21	FGO
ZCS	0.13	0.86	0.63	-0.21		ZCS
	FSB	HAB	MUB	FGO	ZCS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ZCS	+ 0.86	HAB
FGO	+ 0.77	FSB
MUB	+ 0.63	HAB
ZCS	+ 0.63	MUB
MUB	+ 0.35	FSB
HAB	+ 0.2	FSB

High negative correlations

ZCS	- 0.21	FGO
FGO	- 0.04	HAB

CI Investment Constituents Risk-Adjusted Indicators

There is a big difference between FIG Etf performing well and CI Investment 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 Investment'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
FSB	0.11	(0.01)	(0.59)	(0.20)	0.13	(0.17)	0.21	(0.21)	0.93
HAB	0.31	0.01	(0.22)	0.26	0.36	(0.32)	0.50	(0.68)	1.68
MUB	0.20	0.02	(0.32)	0.33	0.17	(0.24)	0.65	(0.54)	1.79
FGO	0.24	(0.03)	0.00	(0.46)	0.00	0.00	0.40	(0.50)	1.20
ZCS	0.12	0.01	(0.65)	0.28	0.00	(0.14)	0.29	(0.22)	0.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in CI Investment 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 Fundamentals Comparison Now

Fundamentals Comparison

Compare fundamentals across multiple equities to find investing opportunities

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