Hamilton MidSmall Correlations

HUM-U Etf

USD 35.27 0.16 0.45%

The current 90-days correlation between Hamilton MidSmall Cap and Hamilton Equity YIELD is 0.08 (i.e., Significant diversification). The correlation of Hamilton MidSmall is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Hamilton MidSmall Correlation With Market

Average diversification

The correlation between Hamilton MidSmall Cap Financia 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 Hamilton MidSmall Cap Financia and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hamilton Etf

0.9	XIU	iShares SPTSX 60	Pair Corr
0.85	XSP	iShares Core SP	Pair Corr
0.9	XIC	iShares Core SPTSX	Pair Corr
0.9	ZCN	BMO SPTSX Capped	Pair Corr
0.71	ZSP	BMO SP 500	Pair Corr
0.7	VFV	Vanguard SP 500	Pair Corr
0.81	ZEB	BMO SPTSX Equal	Pair Corr
0.88	HBLK	Blockchain Technologies	Pair Corr

Moving against Hamilton Etf

0.91	HXD	BetaPro SPTSX 60	Pair Corr
0.84	HIU	BetaPro SP 500	Pair Corr
0.61	HQD	BetaPro NASDAQ 100	Pair Corr

Related Correlations Analysis

	SMAX	HCAL	HBA	HUM-U	HEB	HMAX	EMAX	HCA	HYLD
SMAX		0.93	0.52	0.7	0.93	0.95	-0.18	0.93	0.87	SMAX
HCAL	0.93		0.68	0.82	0.99	0.98	0.0	0.98	0.85	HCAL
HBA	0.52	0.68		0.88	0.68	0.66	0.47	0.62	0.63	HBA
HUM-U	0.7	0.82	0.88		0.83	0.82	0.39	0.78	0.81	HUM-U
HEB	0.93	0.99	0.68	0.83		0.97	-0.01	0.97	0.85	HEB
HMAX	0.95	0.98	0.66	0.82	0.97		0.06	0.98	0.87	HMAX
EMAX	-0.18	0.0	0.47	0.39	-0.01	0.06		0.03	0.16	EMAX
HCA	0.93	0.98	0.62	0.78	0.97	0.98	0.03		0.83	HCA
HYLD	0.87	0.85	0.63	0.81	0.85	0.87	0.16	0.83		HYLD
	SMAX	HCAL	HBA	HUM-U	HEB	HMAX	EMAX	HCA	HYLD

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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

HEB	+ 0.99	HCAL
HMAX	+ 0.98	HCAL
HCA	+ 0.98	HCAL
HCA	+ 0.98	HMAX
HMAX	+ 0.97	HEB
HCA	+ 0.97	HEB

High negative correlations

EMAX	- 0.18	SMAX
EMAX	- 0.01	HEB
EMAX	- 0.0	HCAL

Hamilton MidSmall Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton MidSmall 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 Hamilton MidSmall'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
SMAX	0.61	0.12	0.12	3.50	0.65	(0.66)	1.26	(0.99)	5.29
HCAL	0.41	0.10	0.15	(20.28)	0.33	(0.47)	1.00	(0.63)	3.13
HBA	0.74	0.08	0.07	1.26	0.91	(0.75)	1.49	(1.47)	4.40
HUM-U	0.99	0.10	0.08	0.45	1.02	(1.28)	2.03	(1.75)	12.91
HEB	0.28	0.07	0.09	1.35	0.25	(0.32)	0.91	(0.74)	2.06
HMAX	0.33	0.08	0.11	1.86	0.35	(0.37)	0.72	(0.48)	2.91
EMAX	0.88	(0.03)	0.00	(0.17)	0.00	0.00	1.35	(2.18)	6.45
HCA	0.34	0.07	0.13	(14.32)	0.24	(0.38)	0.82	(0.64)	2.46
HYLD	0.70	0.04	0.02	1.45	1.03	(0.70)	1.27	(1.40)	6.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hamilton MidSmall 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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