Evolve Global Correlations

LIFE-U Etf

USD 20.01 0.21 1.04%

The current 90-days correlation between Evolve Global Healthcare and Evolve Active Core is -0.08 (i.e., Good diversification). The correlation of Evolve Global 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.

Evolve Global Correlation With Market

Good diversification

The correlation between Evolve Global Healthcare and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolve Global Healthcare and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Evolve Etf

0.85	ZAG	BMO Aggregate Bond	Pair Corr
0.85	XBB	iShares Canadian Universe	Pair Corr
0.81	TCLB	TD Canadian Long	Pair Corr
0.88	FHE	First Trust Indxx	Pair Corr
0.75	HUN	Global X Natural	Pair Corr

Moving against Evolve Etf

0.72	CARS	Evolve Automobile	Pair Corr
0.65	HBLK	Blockchain Technologies	Pair Corr
0.64	HBGD	Global X Big	Pair Corr
0.55	CHPS	Global X Semiconductor	Pair Corr
0.45	ZEB	BMO SPTSX Equal	Pair Corr
0.31	XSP	iShares Core SP	Pair Corr
0.31	ZSP	BMO SP 500	Pair Corr
0.31	VFV	Vanguard SP 500	Pair Corr

Related Correlations Analysis

	LIFE-U	FIXD	LBIT	DATA-B	EBNK-B	EDGE	BOND	ETC-U	HERS
LIFE-U		0.79	0.0	-0.36	0.86	-0.12	0.87	-0.62	0.0	LIFE-U
FIXD	0.79		0.0	-0.26	0.71	-0.04	0.8	-0.58	0.0	FIXD
LBIT	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	LBIT
DATA-B	-0.36	-0.26	0.0		-0.69	0.85	-0.53	0.84	0.0	DATA-B
EBNK-B	0.86	0.71	0.0	-0.69		-0.41	0.86	-0.84	0.0	EBNK-B
EDGE	-0.12	-0.04	0.0	0.85	-0.41		-0.28	0.61	0.0	EDGE
BOND	0.87	0.8	0.0	-0.53	0.86	-0.28		-0.74	0.0	BOND
ETC-U	-0.62	-0.58	0.0	0.84	-0.84	0.61	-0.74		0.0	ETC-U
HERS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		HERS
	LIFE-U	FIXD	LBIT	DATA-B	EBNK-B	EDGE	BOND	ETC-U	HERS

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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

BOND	+ 0.87	LIFE-U
EBNK-B	+ 0.86	LIFE-U
BOND	+ 0.86	EBNK-B
EDGE	+ 0.85	DATA-B
ETC-U	+ 0.84	DATA-B
BOND	+ 0.8	FIXD

High negative correlations

ETC-U	- 0.84	EBNK-B
ETC-U	- 0.74	BOND
EBNK-B	- 0.69	DATA-B
ETC-U	- 0.62	LIFE-U
ETC-U	- 0.58	FIXD
BOND	- 0.53	DATA-B

Evolve Global Constituents Risk-Adjusted Indicators

There is a big difference between Evolve Etf performing well and Evolve Global 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 Evolve Global'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
LIFE-U	0.51	0.04	0.05	(0.42)	0.56	(1.04)	1.15	(0.78)	6.98
FIXD	0.18	0.00	0.01	0.03	0.24	(0.40)	0.56	(0.60)	1.95
LBIT	2.05	0.79	0.00	4.07	0.00	0.00	4.90	(1.72)	6.63
DATA-B	1.07	(0.14)	0.00	4.30	0.00	0.00	2.33	(3.29)	8.48
EBNK-B	1.23	0.40	0.26	1.38	1.20	(1.45)	3.16	(2.50)	8.66
EDGE	0.89	(0.02)	0.00	(0.03)	0.00	0.00	1.76	(1.77)	5.45
BOND	0.54	0.02	0.04	0.79	0.59	(0.57)	1.26	(1.03)	2.90
ETC-U	2.83	(0.18)	0.00	0.30	0.00	0.00	5.28	(6.15)	26.28
HERS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Evolve Global 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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