TD Index Correlations
| TDB902 Fund | 151.39 0.65 0.43% |
The current 90-days correlation between TD Index Fund and RBC Select Balanced is 0.1 (i.e., Average diversification). The correlation of TD Index 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.
TD Index Correlation With Market
Very weak diversification
The correlation between TD Index Fund E and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD Index Fund E and DJI in the same portfolio, assuming nothing else is changed.
TDB902 |
The ability to find closely correlated positions to TD Index could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TD Index 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 TD Index - 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 TD Index Fund E to buy it.
Moving together with TDB902 Fund
| 0.93 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.93 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.92 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
| 0.86 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
| 0.98 | 0P00012UCU | RBC Global Equity | PairCorr |
Related Correlations Analysis
| 1.0 | 0.93 | 0.93 | 0.96 | 0.37 | 0P0000706A | ||
| 1.0 | 0.93 | 0.9 | 0.96 | 0.34 | 0P00007069 | ||
| 0.93 | 0.93 | 0.86 | 0.91 | 0.34 | 0P0000IUYO | ||
| 0.93 | 0.9 | 0.86 | 0.89 | 0.48 | 0P0001FAU8 | ||
| 0.96 | 0.96 | 0.91 | 0.89 | 0.18 | 0P00012UCU | ||
| 0.37 | 0.34 | 0.34 | 0.48 | 0.18 | 0P00007149 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between TDB902 Fund performing well and TD Index Fund 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 TD Index'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 0P0000706A | 0.26 | 0.09 | (0.05) | 1.85 | 0.00 | 0.69 | 1.58 | |||
| 0P00007069 | 0.31 | 0.12 | 0.02 | 2.07 | 0.00 | 0.83 | 1.99 | |||
| 0P0000IUYO | 0.48 | 0.09 | 0.01 | 0.42 | 0.28 | 1.19 | 2.60 | |||
| 0P0001FAU8 | 0.23 | 0.07 | (0.16) | 2.22 | 0.00 | 0.61 | 1.24 | |||
| 0P00012UCU | 0.54 | 0.20 | 0.16 | 2.46 | 0.00 | 1.21 | 3.15 | |||
| 0P00007149 | 0.49 | 0.01 | (0.12) | 0.18 | 0.60 | 0.94 | 3.27 |
TD Index Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with TD Index fund to make a market-neutral strategy. Peer analysis of TD Index could also be used in its relative valuation, which is a method of valuing TD Index by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |