Purpose Silver Correlations

SBT-U Etf

USD 17.84 0.41 2.35%

The current 90-days correlation between Purpose Silver Bullion and Purpose Bitcoin Yield is -0.01 (i.e., Good diversification). The correlation of Purpose Silver is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Purpose Silver Correlation With Market

Good diversification

The correlation between Purpose Silver Bullion and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purpose Silver Bullion and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Purpose Etf

0.7	ZAG	BMO Aggregate Bond	Pair Corr
0.69	XBB	iShares Canadian Universe	Pair Corr
0.61	TCLB	TD Canadian Long	Pair Corr
0.72	FHE	First Trust Indxx	Pair Corr
0.8	HUN	Global X Natural	Pair Corr

Moving against Purpose Etf

0.66	HBLK	Blockchain Technologies	Pair Corr
0.61	ZEB	BMO SPTSX Equal	Pair Corr
0.57	CARS	Evolve Automobile	Pair Corr
0.56	HBGD	Global X Big	Pair Corr
0.46	ZSP	BMO SP 500	Pair Corr
0.46	VFV	Vanguard SP 500	Pair Corr
0.41	CHPS	Global X Semiconductor	Pair Corr
0.39	XSP	iShares Core SP	Pair Corr
0.34	RUBH	RBC Banks Yield	Pair Corr

Related Correlations Analysis

	BTCY-B	PYF-B	FLOT-U	ETHY	SBT-U	PRP	IGB	PAYF	SYLD
BTCY-B		-0.67	-0.18	0.85	-0.61	-0.64	-0.68	0.2	-0.38	BTCY-B
PYF-B	-0.67		0.25	-0.59	0.31	0.57	0.6	-0.18	0.39	PYF-B
FLOT-U	-0.18	0.25		0.07	-0.21	-0.04	-0.08	-0.31	-0.35	FLOT-U
ETHY	0.85	-0.59	0.07		-0.86	-0.87	-0.9	-0.15	-0.73	ETHY
SBT-U	-0.61	0.31	-0.21	-0.86		0.79	0.82	0.38	0.73	SBT-U
PRP	-0.64	0.57	-0.04	-0.87	0.79		0.94	0.29	0.82	PRP
IGB	-0.68	0.6	-0.08	-0.9	0.82	0.94		0.37	0.85	IGB
PAYF	0.2	-0.18	-0.31	-0.15	0.38	0.29	0.37		0.51	PAYF
SYLD	-0.38	0.39	-0.35	-0.73	0.73	0.82	0.85	0.51		SYLD
	BTCY-B	PYF-B	FLOT-U	ETHY	SBT-U	PRP	IGB	PAYF	SYLD

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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

IGB	+ 0.94	PRP
ETHY	+ 0.85	BTCY-B
SYLD	+ 0.85	IGB
IGB	+ 0.82	SBT-U
SYLD	+ 0.82	PRP
PRP	+ 0.79	SBT-U

High negative correlations

IGB	- 0.9	ETHY
PRP	- 0.87	ETHY
SBT-U	- 0.86	ETHY
SYLD	- 0.73	ETHY
IGB	- 0.68	BTCY-B
PYF-B	- 0.67	BTCY-B

Purpose Silver Constituents Risk-Adjusted Indicators

There is a big difference between Purpose Etf performing well and Purpose Silver 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 Purpose Silver'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
BTCY-B	2.36	(0.18)	0.00	(0.24)	0.00	0.00	4.35	(4.74)	14.85
PYF-B	0.15	(0.01)	(0.01)	(0.26)	0.32	(0.82)	0.56	(0.56)	3.69
FLOT-U	0.58	(0.05)	0.00	0.23	0.00	0.00	2.01	(2.67)	8.70
ETHY	3.25	(0.78)	0.00	(0.58)	0.00	0.00	4.27	(7.99)	23.57
SBT-U	1.06	0.15	0.09	(1.37)	1.32	(1.02)	2.52	(2.21)	5.24
PRP	0.33	0.01	0.02	(7.48)	0.48	(0.35)	0.62	(0.62)	2.62
IGB	0.14	0.02	0.06	1.65	0.07	(0.17)	0.33	(0.33)	1.05
PAYF	0.40	0.02	0.03	0.07	0.54	(0.42)	0.91	(1.05)	2.44
SYLD	0.19	0.01	0.04	1.09	0.15	(0.23)	0.42	(0.36)	1.20

Be your own money manager

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