TD International Correlations

THE Etf  CAD 26.87  0.17  0.64%   
The current 90-days correlation between TD International Equity and TD International Equity is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TD International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD International Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TD International Correlation With Market

Average diversification

The correlation between TD International Equity and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD International Equity and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TD International 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 International 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 International - 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 International Equity to buy it.

Moving together with THE Etf

  0.93XEF iShares Core MSCIPairCorr
  0.93ZEA BMO MSCI EAFEPairCorr
  0.93VIU Vanguard FTSE DevelopedPairCorr
  0.93XIN iShares MSCI EAFEPairCorr
  0.95XFH iShares Core MSCIPairCorr
  0.96ZDM BMO MSCI EAFEPairCorr
  0.93WSRD Wealthsimple DevelopedPairCorr
  0.9ZLI BMO Low VolatilityPairCorr
  0.94VDU Vanguard FTSE DevelopedPairCorr
  0.96VEF Vanguard FTSE DevelopedPairCorr
  0.85XIU iShares SPTSX 60PairCorr
  0.81XIC iShares Core SPTSXPairCorr
  0.73ZAG BMO Aggregate BondPairCorr
  0.74XBB iShares Canadian UniversePairCorr
  0.81ZCN BMO SPTSX CappedPairCorr
  0.62TCLB TD Canadian LongPairCorr

Related Correlations Analysis

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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   
JPMMETA
CRMMSFT
TMETA
TUBER
JPMUBER
XOMF
  
High negative correlations   
MRKMETA
MRKJPM
MRKT
MRKUBER
UBERMSFT
FMETA

TD International Constituents Risk-Adjusted Indicators

There is a big difference between THE Etf performing well and TD International 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 TD International'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.36  0.28  0.17  0.57  1.44 
 3.22 
 7.11 
MSFT  1.03 (0.05) 0.00 (0.16) 0.00 
 2.20 
 10.31 
UBER  1.95  0.16  0.06  3.78  2.78 
 4.72 
 12.29 
F  1.35 (0.11) 0.00 (0.13) 0.00 
 2.55 
 10.97 
T  0.94  0.30  0.27  0.50  0.88 
 1.90 
 7.94 
A  1.07 (0.03) 0.00 (0.07) 0.00 
 2.81 
 9.03 
CRM  1.45 (0.15) 0.00 (0.22) 0.00 
 2.21 
 15.92 
JPM  0.89  0.14  0.11  0.15  1.16 
 1.97 
 6.85 
MRK  1.26 (0.10) 0.00 (2.54) 0.00 
 2.15 
 11.57 
XOM  0.91 (0.12) 0.00 (0.25) 0.00 
 1.76 
 5.69 

Be your own money manager

Our tools can tell you how much better you can do entering a position in TD International 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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