NBI Sustainable Correlations

NSCC Etf

CAD 22.65 0.08 0.35%

The current 90-days correlation between NBI Sustainable Canadian and NBI High Yield is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NBI Sustainable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NBI Sustainable Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NBI Sustainable Correlation With Market

Significant diversification

The correlation between NBI Sustainable Canadian and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NBI Sustainable Canadian and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NBI Etf

0.95	XCB	iShares Core Canadian	Pair Corr
0.94	ZCM	BMO Mid Corporate	Pair Corr
0.91	HAB	Global X Active	Pair Corr
0.95	CBH	iShares 1 10Yr	Pair Corr
0.88	RQO	RBC Target 2026	Pair Corr
0.93	CACB	CIBC Active Investment	Pair Corr
0.95	FLCI	Franklin Bissett Cor	Pair Corr
0.92	RQP	RBC Target 2027	Pair Corr
0.8	HGU	BetaPro Canadian Gold	Pair Corr
0.78	ZGD	BMO Equal Weight	Pair Corr
0.75	ZJG	BMO Junior Gold	Pair Corr
0.78	HGGG	Harvest Global Gold	Pair Corr
0.8	HBU	BetaPro Gold Bullion	Pair Corr
0.78	HEP	Global X Enhanced	Pair Corr
0.81	XGD	iShares SPTSX Global	Pair Corr
0.8	ZCH	BMO MSCI China	Pair Corr
0.64	CYBR-B	Evolve Cyber Security	Pair Corr
0.83	MNT	Royal Canadian Mint	Pair Corr

Moving against NBI Etf

0.44

CXF

CI Canadian Convertible

Pair Corr

Related Correlations Analysis

	NHYB	NUBF	NFAM	NREA	NPRF	NSCB	NSCE	NDIV	NSGE
NHYB		0.77	0.0	0.17	0.59	0.46	0.6	0.5	-0.02	NHYB
NUBF	0.77		0.0	0.27	0.43	0.78	0.83	0.69	-0.15	NUBF
NFAM	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NFAM
NREA	0.17	0.27	0.0		0.18	0.35	0.26	-0.05	-0.05	NREA
NPRF	0.59	0.43	0.0	0.18		0.05	0.26	0.33	0.38	NPRF
NSCB	0.46	0.78	0.0	0.35	0.05		0.85	0.59	-0.33	NSCB
NSCE	0.6	0.83	0.0	0.26	0.26	0.85		0.62	-0.19	NSCE
NDIV	0.5	0.69	0.0	-0.05	0.33	0.59	0.62		-0.11	NDIV
NSGE	-0.02	-0.15	0.0	-0.05	0.38	-0.33	-0.19	-0.11		NSGE
	NHYB	NUBF	NFAM	NREA	NPRF	NSCB	NSCE	NDIV	NSGE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

NSCE	+ 0.85	NSCB
NSCE	+ 0.83	NUBF
NSCB	+ 0.78	NUBF
NUBF	+ 0.77	NHYB
NDIV	+ 0.69	NUBF
NDIV	+ 0.62	NSCE

High negative correlations

NSGE	- 0.33	NSCB
NSGE	- 0.19	NSCE
NSGE	- 0.15	NUBF
NSGE	- 0.11	NDIV
NSGE	- 0.05	NREA
NDIV	- 0.05	NREA

NBI Sustainable Constituents Risk-Adjusted Indicators

There is a big difference between NBI Etf performing well and NBI Sustainable 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 NBI Sustainable'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
NHYB	0.31	0.00	0.02	0.12	0.34	(0.39)	0.79	(0.69)	1.89
NUBF	0.24	0.01	0.04	0.57	0.23	(0.32)	0.58	(0.43)	1.58
NFAM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NREA	0.65	(0.01)	0.00	(0.09)	0.00	0.00	1.60	(1.63)	4.17
NPRF	0.23	0.02	0.06	0.18	0.31	(0.24)	0.54	(0.45)	2.17
NSCB	0.33	0.02	0.04	0.31	0.50	(0.33)	0.68	(0.90)	2.16
NSCE	0.49	0.03	0.05	2.96	0.62	(0.50)	0.94	(1.14)	2.82
NDIV	0.19	0.05	0.00	1.68	0.00	0.00	0.93	0.00	2.78
NSGE	0.74	(0.10)	0.00	0.43	0.00	0.00	1.77	(2.02)	5.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in NBI Sustainable 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.

Did you try this?

Run Theme Ratings Now

Theme Ratings

Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC