Harvest Premium Correlations

HPYT Etf

9.69 0.09 0.92%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harvest Premium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Premium Yield moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harvest Premium Correlation With Market

Average diversification

The correlation between Harvest Premium Yield and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Premium Yield and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Harvest Premium 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 Premium 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 Premium - 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 Premium Yield to buy it.

Moving together with Harvest Etf

0.89	FLGA	Franklin Global Core	Pair Corr
0.96	FGO	CI Enhanced Government	Pair Corr
0.85	CPLS	CIBC Core Plus	Pair Corr
0.88	MGB	Mackenzie Core Plus	Pair Corr
0.89	HTB	Global X 7	Pair Corr
0.86	MGAB	Mackenzie Global Fixed	Pair Corr
0.89	ZAG	BMO Aggregate Bond	Pair Corr
0.89	XBB	iShares Canadian Universe	Pair Corr
0.88	TCLB	TD Canadian Long	Pair Corr

Moving against Harvest Etf

0.57	ZEB	BMO SPTSX Equal	Pair Corr
0.47	ZSP	BMO SP 500	Pair Corr
0.46	VFV	Vanguard SP 500	Pair Corr
0.45	XSP	iShares Core SP	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 Premium Constituents Risk-Adjusted Indicators

There is a big difference between Harvest Etf performing well and Harvest Premium 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 Premium'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 Premium 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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