Harvest Clean Correlations

HCLN Etf

CAD 7.43 0.12 1.59%

The current 90-days correlation between Harvest Clean Energy and Harvest Premium Yield is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harvest Clean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Clean Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harvest Clean Correlation With Market

Significant diversification

The correlation between Harvest Clean Energy and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Clean Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Harvest Etf

0.74

ZCLN

BMO Clean Energy

Pair Corr

Moving against Harvest Etf

0.64	HEP	Global X Enhanced	Pair Corr
0.64	MNT	Royal Canadian Mint	Pair Corr
0.63	HGGG	Harvest Global Gold	Pair Corr
0.61	HBU	BetaPro Gold Bullion	Pair Corr
0.6	XGD	iShares SPTSX Global	Pair Corr
0.59	CYBR-B	Evolve Cyber Security	Pair Corr
0.57	HGU	BetaPro Canadian Gold	Pair Corr
0.56	ZGD	BMO Equal Weight	Pair Corr
0.56	ZJG	BMO Junior Gold	Pair Corr
0.45	ZCH	BMO MSCI China	Pair Corr

Related Correlations Analysis

	HPYT	HLFE	HBIG	CNYE	MSTE	HUIB	METE	HHIS	HPF-U
HPYT		0.0	0.59	-0.27	-0.49	0.0	0.01	-0.37	-0.36	HPYT
HLFE	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HLFE
HBIG	0.59	0.0		0.05	-0.01	0.0	0.52	0.37	-0.52	HBIG
CNYE	-0.27	0.0	0.05		0.39	0.0	0.48	0.48	-0.04	CNYE
MSTE	-0.49	0.0	-0.01	0.39		0.0	0.64	0.79	0.4	MSTE
HUIB	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	HUIB
METE	0.01	0.0	0.52	0.48	0.64	0.0		0.79	-0.07	METE
HHIS	-0.37	0.0	0.37	0.48	0.79	0.0	0.79		-0.07	HHIS
HPF-U	-0.36	0.0	-0.52	-0.04	0.4	0.0	-0.07	-0.07		HPF-U
	HPYT	HLFE	HBIG	CNYE	MSTE	HUIB	METE	HHIS	HPF-U

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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

HHIS	+ 0.79	MSTE
HHIS	+ 0.79	METE
METE	+ 0.64	MSTE
HBIG	+ 0.59	HPYT
METE	+ 0.52	HBIG
METE	+ 0.48	CNYE

High negative correlations

HPF-U	- 0.52	HBIG
MSTE	- 0.49	HPYT
HHIS	- 0.37	HPYT
HPF-U	- 0.36	HPYT
CNYE	- 0.27	HPYT
HPF-U	- 0.07	HHIS

Harvest Clean Constituents Risk-Adjusted Indicators

There is a big difference between Harvest Etf performing well and Harvest Clean 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 Harvest Clean'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
HPYT	0.56	0.00	0.04	(0.07)	0.67	(0.56)	1.37	(1.14)	2.80
HLFE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HBIG	0.39	0.01	0.07	0.04	0.53	(0.45)	0.88	(0.71)	2.21
CNYE	5.12	(0.51)	0.00	(0.43)	0.00	0.00	8.57	(18.40)	20.56
MSTE	6.02	1.26	0.00	0.98	0.00	0.00	15.25	(19.53)	20.00
HUIB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
METE	1.80	0.04	0.02	0.01	2.84	(1.53)	2.82	(5.02)	8.50
HHIS	2.28	(0.06)	0.00	(0.09)	0.00	0.00	4.47	(5.02)	15.75
HPF-U	1.18	0.00	0.02	(0.04)	1.78	(1.16)	2.37	(2.62)	8.12

Be your own money manager

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