Harvest Tech Correlations

The current 90-days correlation between Harvest Tech Achievers and Harvest Brand Leaders is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harvest Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Tech Achievers moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harvest Tech Correlation With Market

Very weak diversification

The correlation between Harvest Tech Achievers and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Tech Achievers and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Harvest Tech 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 Tech 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 Tech - 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 Tech Achievers to buy it.

Moving together with Harvest Etf

0.73	ZUH	BMO Equal Weight	Pair Corr
0.76	XIT	iShares SPTSX Capped	Pair Corr
0.77	HMMJ	Global X Marijuana	Pair Corr
0.98	TXF	First Asset Tech	Pair Corr
0.99	TEC	TD Global Technology	Pair Corr
0.96	HBLK	Blockchain Technologies	Pair Corr
0.95	HBGD	Global X Big	Pair Corr
0.93	CHPS	Global X Semiconductor	Pair Corr
0.72	CARS	Evolve Automobile	Pair Corr
0.89	RUBH	RBC Banks Yield	Pair Corr

Moving against Harvest Etf

0.81	HUN	Global X Natural	Pair Corr
0.77	ZWU	BMO Covered Call	Pair Corr
0.69	ZUT	BMO Equal Weight	Pair Corr
0.52	FHE	First Trust Indxx	Pair Corr
0.36	CWW	iShares Global Water	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.06	0.51	-0.56	0.24	0.43	0.43	0.88	-0.71	-0.11	META
MSFT	0.06		-0.6	0.22	-0.8	0.51	0.6	0.12	0.42	-0.56	MSFT
UBER	0.51	-0.6		-0.47	0.81	-0.1	-0.21	0.54	-0.84	0.57	UBER
F	-0.56	0.22	-0.47		-0.14	-0.14	-0.21	-0.56	0.54	0.14	F
T	0.24	-0.8	0.81	-0.14		-0.44	-0.51	0.19	-0.65	0.61	T
A	0.43	0.51	-0.1	-0.14	-0.44		0.88	0.65	0.02	-0.21	A
CRM	0.43	0.6	-0.21	-0.21	-0.51	0.88		0.58	0.04	-0.38	CRM
JPM	0.88	0.12	0.54	-0.56	0.19	0.65	0.58		-0.63	0.0	JPM
MRK	-0.71	0.42	-0.84	0.54	-0.65	0.02	0.04	-0.63		-0.35	MRK
XOM	-0.11	-0.56	0.57	0.14	0.61	-0.21	-0.38	0.0	-0.35		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	+ 0.88	META
CRM	+ 0.88	A
T	+ 0.81	UBER
JPM	+ 0.65	A
XOM	+ 0.61	T
CRM	+ 0.6	MSFT

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.71	META
MRK	- 0.65	T
MRK	- 0.63	JPM
UBER	- 0.6	MSFT

Harvest Tech Competition Risk-Adjusted Indicators

There is a big difference between Harvest Etf performing well and Harvest Tech 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 Tech'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	0.07	0.03	0.06	2.34	(1.43)	2.96	(3.73)	8.90
MSFT	1.11	(0.21)	0.00	(0.24)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.89	0.35	0.15	0.55	2.08	(2.07)	4.72	(3.13)	12.75
F	1.47	0.10	0.04	0.08	2.13	(1.49)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	0.54	1.45	(1.12)	1.90	(1.55)	11.66
A	1.18	(0.19)	0.00	(0.19)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.28)	0.00	(0.21)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.14	0.06	0.03	0.24	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.24	(0.18)	0.00	1.61	0.00	0.00	2.07	(2.25)	11.58
XOM	1.03	0.13	0.09	0.29	1.29	(1.05)	2.55	(2.36)	5.89

Harvest Tech Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Harvest Tech etf to make a market-neutral strategy. Peer analysis of Harvest Tech could also be used in its relative valuation, which is a method of valuing Harvest Tech by comparing valuation metrics with similar companies.

Harvest Brand Leaders Harvest Healthcare Leaders Harvest Equal Weight Harvest Diversified Monthly First Asset Tech American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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