Hamilton Technology Correlations

QMAX Etf

22.99 0.49 2.18%

The current 90-days correlation between Hamilton Technology Yield and Hamilton Equity YIELD is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Technology Yield moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Technology Correlation With Market

Very weak diversification

The correlation between Hamilton Technology Yield and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Technology Yield and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hamilton Etf

0.8	XIT	iShares SPTSX Capped	Pair Corr
0.95	TEC	TD Global Technology	Pair Corr
0.86	FBTC	Fidelity Advantage	Pair Corr
0.86	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.86	EBIT	Bitcoin ETF CAD	Pair Corr
0.83	BTCC	Purpose Bitcoin CAD	Pair Corr
0.86	ETC	Evolve Cryptocurrencies	Pair Corr
0.84	BTCY	Purpose Bitcoin Yield	Pair Corr
0.86	BITC	Ninepoint Bitcoin ETF	Pair Corr

Moving against Hamilton Etf

0.86	XHC	iShares Global Healthcare	Pair Corr
0.83	HHL	Harvest Healthcare	Pair Corr
0.82	HMMJ	Global X Marijuana	Pair Corr
0.73	ZWU	BMO Covered Call	Pair Corr
0.72	ZUH	BMO Equal Weight	Pair Corr
0.62	HGU	BetaPro Canadian Gold	Pair Corr
0.52	CWW	iShares Global Water	Pair Corr

Related Correlations Analysis

	SMAX	HCAL	HBA	HUM-U	HEB	HMAX	EMAX	HCA	HYLD
SMAX		0.78	0.19	0.41	0.79	0.89	0.02	0.9	0.6	SMAX
HCAL	0.78		0.27	0.53	0.96	0.87	0.04	0.88	0.59	HCAL
HBA	0.19	0.27		0.8	0.35	0.43	0.73	0.35	0.4	HBA
HUM-U	0.41	0.53	0.8		0.65	0.63	0.57	0.52	0.69	HUM-U
HEB	0.79	0.96	0.35	0.65		0.89	0.08	0.87	0.66	HEB
HMAX	0.89	0.87	0.43	0.63	0.89		0.2	0.96	0.7	HMAX
EMAX	0.02	0.04	0.73	0.57	0.08	0.2		0.2	0.13	EMAX
HCA	0.9	0.88	0.35	0.52	0.87	0.96	0.2		0.58	HCA
HYLD	0.6	0.59	0.4	0.69	0.66	0.7	0.13	0.58		HYLD
	SMAX	HCAL	HBA	HUM-U	HEB	HMAX	EMAX	HCA	HYLD

Click cells to compare fundamentals

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Hamilton Technology Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton Technology 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 Hamilton Technology'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
SMAX	0.66	0.11	0.09	0.58	0.75	(0.71)	1.43	(1.42)	5.31
HCAL	0.42	0.08	0.10	0.42	0.38	(0.48)	1.00	(0.68)	3.13
HBA	0.78	0.04	0.01	0.21	0.99	(0.81)	1.59	(1.47)	4.38
HUM-U	1.01	0.08	0.05	0.19	1.09	(1.32)	2.03	(1.86)	12.91
HEB	0.30	0.06	0.07	0.34	0.28	(0.35)	0.77	(0.81)	2.06
HMAX	0.38	0.07	0.08	0.32	0.45	(0.40)	0.77	(0.55)	2.91
EMAX	0.84	0.06	0.03	0.59	1.01	(0.83)	1.35	(1.79)	6.45
HCA	0.34	0.09	0.17	0.64	0.08	(0.40)	1.03	(0.63)	2.46
HYLD	0.73	0.05	0.03	0.14	1.01	(0.70)	1.29	(1.44)	6.57

Be your own money manager

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