Picton Mahoney Correlations

PFAE Etf

CAD 20.94 0.15 0.72%

The current 90-days correlation between Picton Mahoney Fortified and Manulife Multifactor Mid is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Picton Mahoney moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Picton Mahoney Fortified moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Picton Mahoney Correlation With Market

Weak diversification

The correlation between Picton Mahoney Fortified and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Picton Mahoney Fortified and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Picton Etf

0.93	XIU	iShares SPTSX 60	Pair Corr
0.89	XSP	iShares Core SP	Pair Corr
0.95	XIC	iShares Core SPTSX	Pair Corr
0.95	ZCN	BMO SPTSX Capped	Pair Corr
0.95	ZSP	BMO SP 500	Pair Corr
0.95	VFV	Vanguard SP 500	Pair Corr
0.96	ZEB	BMO SPTSX Equal	Pair Corr
0.87	HQU	BetaPro NASDAQ 100	Pair Corr
0.96	HBLK	Blockchain Technologies	Pair Corr
0.9	TEC	TD Global Technology	Pair Corr
0.9	ZNQ	BMO NASDAQ 100	Pair Corr
0.95	XIT	iShares SPTSX Capped	Pair Corr
0.85	HTA	Harvest Tech Achievers	Pair Corr
0.89	XQQ	iShares NASDAQ 100	Pair Corr
0.88	ZQQ	BMO NASDAQ 100	Pair Corr
0.9	TLF	Tech Leaders Income	Pair Corr
0.78	TOCC	TD One Click	Pair Corr
0.93	GDV	Global Dividend Growth	Pair Corr
0.9	ZWA	BMO Covered Call	Pair Corr
0.8	PFAA	Picton Mahoney Fortified	Pair Corr
0.95	VMO	Vanguard Global Momentum	Pair Corr
0.93	FTN	Financial 15 Split	Pair Corr
0.91	CASH	GLOBAL X HIGH	Pair Corr
0.95	VUN	Vanguard Total Market	Pair Corr
0.81	EGIF	Exemplar Growth	Pair Corr
0.96	FLSA	Fidelity LongShort	Pair Corr
0.95	FHG	FT AlphaDEX Industrials	Pair Corr
0.7	PYF-B	Purpose Fund Corp	Pair Corr
0.85	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.94	FBTC	Fidelity Advantage	Pair Corr
0.97	XESG	iShares ESG Aware	Pair Corr
0.9	XCNS	iShares Core Conservative	Pair Corr
0.92	CMCX-B	CI Galaxy Multi	Pair Corr

Related Correlations Analysis

	MUMC	MCSM	MULC	MCLC	INOC
MUMC		0.72	0.96	0.93	0.45	MUMC
MCSM	0.72		0.75	0.83	0.6	MCSM
MULC	0.96	0.75		0.96	0.41	MULC
MCLC	0.93	0.83	0.96		0.41	MCLC
INOC	0.45	0.6	0.41	0.41		INOC
	MUMC	MCSM	MULC	MCLC	INOC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Picton Mahoney Constituents Risk-Adjusted Indicators

There is a big difference between Picton Etf performing well and Picton Mahoney 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 Picton Mahoney'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
MUMC	0.56	0.01	0.00	0.03	0.74	(0.64)	1.08	(1.04)	7.73
MCSM	0.58	0.01	0.00	0.06	0.86	(0.56)	1.17	(1.19)	4.36
MULC	0.46	0.03	0.02	0.08	0.58	(0.48)	0.95	(1.34)	4.27
MCLC	0.39	0.05	0.05	0.21	0.48	(0.42)	0.90	(0.69)	3.26
INOC	0.36	(0.06)	0.00	(0.28)	0.00	0.00	0.62	(1.04)	2.73

Be your own money manager

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