CI First Correlations

MXF Etf

CAD 11.81 0.04 0.34%

The current 90-days correlation between CI First Asset and NBI High Yield is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI First moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI First Asset moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI First Correlation With Market

Good diversification

The correlation between CI First Asset 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 CI First Asset and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MXF Etf

0.93	XMA	iShares SPTSX Capped	Pair Corr
0.73	RXD	RBC Quant Emerging	Pair Corr
0.79	PIN	Purpose Monthly Income	Pair Corr
0.69	ZRR	BMO Real Return	Pair Corr
0.9	ZEA	BMO MSCI EAFE	Pair Corr
0.89	ZWP	BMO Europe High	Pair Corr
0.78	CBH	iShares 1 10Yr	Pair Corr
0.83	VSC	Vanguard Canadian Short	Pair Corr
0.87	CYBR	Evolve Cyber Security	Pair Corr
0.93	ZJG	BMO Junior Gold	Pair Corr

Moving against MXF Etf

0.49	PMM	Purpose Multi Strategy	Pair Corr
0.42	HQD	BetaPro NASDAQ 100	Pair Corr
0.33	XBM	iShares SPTSX Global	Pair Corr

Related Correlations Analysis

	MXF	NHYB	AGLB	NUBF	QDXB	ZSB	CNDD	ZBI	GDEP
MXF		0.84	0.0	0.64	-0.03	0.82	-0.6	0.82	0.34	MXF
NHYB	0.84		0.0	0.71	0.13	0.71	-0.74	0.68	0.43	NHYB
AGLB	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AGLB
NUBF	0.64	0.71	0.0		0.52	0.56	-0.78	0.4	0.75	NUBF
QDXB	-0.03	0.13	0.0	0.52		-0.04	-0.42	-0.23	0.71	QDXB
ZSB	0.82	0.71	0.0	0.56	-0.04		-0.43	0.95	0.12	ZSB
CNDD	-0.6	-0.74	0.0	-0.78	-0.42	-0.43		-0.3	-0.71	CNDD
ZBI	0.82	0.68	0.0	0.4	-0.23	0.95	-0.3		-0.04	ZBI
GDEP	0.34	0.43	0.0	0.75	0.71	0.12	-0.71	-0.04		GDEP
	MXF	NHYB	AGLB	NUBF	QDXB	ZSB	CNDD	ZBI	GDEP

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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

ZBI	+ 0.95	ZSB
NHYB	+ 0.84	MXF
ZSB	+ 0.82	MXF
ZBI	+ 0.82	MXF
GDEP	+ 0.75	NUBF
NUBF	+ 0.71	NHYB

High negative correlations

CNDD	- 0.78	NUBF
CNDD	- 0.74	NHYB
GDEP	- 0.71	CNDD
CNDD	- 0.6	MXF
CNDD	- 0.43	ZSB
CNDD	- 0.42	QDXB

CI First Constituents Risk-Adjusted Indicators

There is a big difference between MXF Etf performing well and CI First 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 CI First'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
MXF	1.21	0.12	0.09	(0.60)	1.41	(1.35)	2.66	(2.36)	6.25
NHYB	0.28	0.01	0.09	0.34	0.30	(0.37)	0.60	(0.55)	1.89
AGLB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUBF	0.27	0.02	0.10	0.52	0.27	(0.34)	0.62	(0.61)	1.72
QDXB	0.27	0.00	0.06	(0.27)	0.32	(0.29)	0.65	(0.46)	1.83
ZSB	0.12	0.03	0.33	0.54	0.00	(0.15)	0.35	(0.21)	0.83
CNDD	0.99	(0.05)	0.00	0.02	0.00	0.00	2.41	(1.87)	7.14
ZBI	0.09	0.03	0.49	0.93	0.00	(0.13)	0.23	(0.13)	0.59
GDEP	0.31	(0.02)	0.00	(0.32)	0.00	0.00	0.66	(0.69)	1.62

Be your own money manager

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