Harvest Tech Correlations

HTAE Etf

17.67 0.29 1.61%

The current 90-days correlation between Harvest Tech Achievers and Brompton Enhanced Multi Asset is 0.66 (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 0.45 (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

0.84	HCAL	Hamilton Enhanced	Pair Corr
0.87	PFLS	Picton Mahoney Fortified	Pair Corr
0.76	HAC	Global X Seasonal	Pair Corr
0.68	ARB	Accelerate Arbitrage	Pair Corr
0.84	PHE	Purpose Tactical Hedged	Pair Corr
0.74	HDGE	Accelerate Absolute	Pair Corr
0.87	BANK	Evolve Canadian Banks	Pair Corr
0.75	HURA	Global X Uranium	Pair Corr
0.62	FHE	First Trust Indxx	Pair Corr
0.87	HBLK	Blockchain Technologies	Pair Corr

Moving against Harvest Etf

0.96	HQD	BetaPro NASDAQ 100	Pair Corr
0.95	HIU	BetaPro SP 500	Pair Corr
0.88	HXD	BetaPro SPTSX 60	Pair Corr
0.63	HED	BetaPro SPTSX Capped	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.37	-0.17	-0.12	0.53	0.26	0.66	0.45	-0.41	0.18	META
MSFT	0.37		-0.44	-0.05	0.36	0.16	0.25	0.15	0.13	-0.66	MSFT
UBER	-0.17	-0.44		0.06	-0.67	0.12	-0.53	-0.43	0.37	0.44	UBER
F	-0.12	-0.05	0.06		0.21	-0.47	0.32	0.54	-0.35	0.34	F
T	0.53	0.36	-0.67	0.21		-0.26	0.89	0.83	-0.73	-0.09	T
A	0.26	0.16	0.12	-0.47	-0.26		-0.26	-0.46	0.57	-0.08	A
CRM	0.66	0.25	-0.53	0.32	0.89	-0.26		0.92	-0.84	0.14	CRM
JPM	0.45	0.15	-0.43	0.54	0.83	-0.46	0.92		-0.87	0.18	JPM
MRK	-0.41	0.13	0.37	-0.35	-0.73	0.57	-0.84	-0.87		-0.31	MRK
XOM	0.18	-0.66	0.44	0.34	-0.09	-0.08	0.14	0.18	-0.31		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	+ 0.92	CRM
CRM	+ 0.89	T
JPM	+ 0.83	T
CRM	+ 0.66	META
MRK	+ 0.57	A
JPM	+ 0.54	F

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.84	CRM
MRK	- 0.73	T
T	- 0.67	UBER
XOM	- 0.66	MSFT
CRM	- 0.53	UBER

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	1.17	0.27	0.15	0.67	1.17	(1.37)	3.22	(1.87)	8.02
MSFT	0.84	0.03	(0.01)	0.16	1.47	(0.79)	1.83	(1.57)	8.14
UBER	1.84	(0.29)	0.00	(0.14)	0.00	0.00	2.69	(5.35)	20.41
F	1.39	(0.13)	(0.04)	0.01	2.12	(1.42)	2.53	(2.79)	11.21
T	0.98	0.12	0.03	0.67	1.05	(1.07)	2.36	(1.99)	6.74
A	1.22	(0.01)	(0.05)	0.08	1.47	(1.30)	2.71	(2.41)	9.02
CRM	1.47	0.42	0.30	0.41	1.03	(1.71)	3.59	(1.93)	13.87
JPM	1.01	0.06	0.12	0.14	0.92	(1.19)	1.73	(1.42)	15.87
MRK	0.95	(0.21)	0.00	(0.78)	0.00	0.00	2.00	(2.17)	5.18
XOM	0.90	0.01	(0.05)	0.14	1.16	(0.98)	1.83	(1.96)	6.06

Be your own money manager

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