Mackenzie Global Correlations

MGAB Etf

CAD 16.97 0.00 0.00%

The current 90-days correlation between Mackenzie Global Fixed and Mackenzie Developed ex North is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mackenzie Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie Global Fixed moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mackenzie Global Correlation With Market

Average diversification

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

The ability to find closely correlated positions to Mackenzie 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 Mackenzie 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 Mackenzie 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 Mackenzie Global Fixed to buy it.

Moving against Mackenzie Etf

0.43

HBLK

Blockchain Technologies

Pair Corr

Related Correlations Analysis

	QDXB	MDVD	QUB	QASH	QTIP	MGB	QEBL	QCB	QTLT
QDXB		-0.01	0.52	-0.1	0.52	0.61	0.39	0.35	0.43	QDXB
MDVD	-0.01		-0.67	0.9	-0.62	-0.46	0.28	0.41	-0.59	MDVD
QUB	0.52	-0.67		-0.8	0.94	0.88	0.16	-0.13	0.91	QUB
QASH	-0.1	0.9	-0.8		-0.75	-0.57	0.17	0.53	-0.7	QASH
QTIP	0.52	-0.62	0.94	-0.75		0.85	0.33	-0.05	0.83	QTIP
MGB	0.61	-0.46	0.88	-0.57	0.85		0.31	0.1	0.85	MGB
QEBL	0.39	0.28	0.16	0.17	0.33	0.31		0.52	0.09	QEBL
QCB	0.35	0.41	-0.13	0.53	-0.05	0.1	0.52		-0.16	QCB
QTLT	0.43	-0.59	0.91	-0.7	0.83	0.85	0.09	-0.16		QTLT
	QDXB	MDVD	QUB	QASH	QTIP	MGB	QEBL	QCB	QTLT

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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

QTIP	+ 0.94	QUB
QTLT	+ 0.91	QUB
QASH	+ 0.9	MDVD
MGB	+ 0.88	QUB
MGB	+ 0.85	QTIP
QTLT	+ 0.85	MGB

High negative correlations

QASH	- 0.8	QUB
QTIP	- 0.75	QASH
QTLT	- 0.7	QASH
QUB	- 0.67	MDVD
QTIP	- 0.62	MDVD
QTLT	- 0.59	MDVD

Mackenzie Global Constituents Risk-Adjusted Indicators

There is a big difference between Mackenzie Etf performing well and Mackenzie 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 Mackenzie 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
QDXB	0.29	0.02	(0.33)	(0.22)	0.31	(0.32)	0.65	(0.64)	1.74
MDVD	0.43	0.12	(0.01)	27.27	0.23	(1.08)	1.68	(0.83)	3.96
QUB	0.24	0.00	(0.49)	0.00	0.26	(0.30)	0.62	(0.43)	1.63
QASH	0.02	0.01	0.00	5.13	0.00	0.00	0.06	(0.02)	0.12
QTIP	0.22	(0.02)	0.00	(0.47)	0.00	0.00	0.44	(0.53)	1.23
MGB	0.29	0.00	(0.31)	(0.19)	0.34	(0.33)	0.55	(0.67)	1.46
QEBL	0.42	0.00	(0.20)	0.13	0.49	(0.47)	0.99	(0.83)	3.10
QCB	0.13	0.02	(0.28)	(1.10)	0.08	(0.26)	0.38	(0.43)	1.51
QTLT	0.51	0.01	(0.19)	(0.10)	0.61	(0.58)	1.04	(1.02)	3.92

Be your own money manager

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