Vanguard Canadian Correlations

VCB Etf

CAD 24.30 0.07 0.29%

The current 90-days correlation between Vanguard Canadian and Vanguard Canadian Long Term is 0.91 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Vanguard Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Vanguard Canadian Corporate moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Vanguard Canadian Correlation With Market

Average diversification

The correlation between Vanguard Canadian Corporate and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Canadian Corporate and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Vanguard Etf

0.99	XCB	iShares Core Canadian	Pair Corr
0.99	ZCM	BMO Mid Corporate	Pair Corr
0.96	HAB	Global X Active	Pair Corr
0.99	CBH	iShares 1 10Yr	Pair Corr
0.96	NSCC	NBI Sustainable Canadian	Pair Corr
0.91	RQO	RBC Target 2026	Pair Corr
0.97	CACB	CIBC Active Investment	Pair Corr
0.96	FLCI	Franklin Bissett Cor	Pair Corr
0.94	RQP	RBC Target 2027	Pair Corr
0.79	HGU	BetaPro Canadian Gold	Pair Corr
0.77	ZGD	BMO Equal Weight	Pair Corr
0.75	ZJG	BMO Junior Gold	Pair Corr
0.77	HGGG	Harvest Global Gold	Pair Corr
0.79	HBU	BetaPro Gold Bullion	Pair Corr
0.77	HEP	Global X Enhanced	Pair Corr
0.8	XGD	iShares SPTSX Global	Pair Corr
0.78	ZCH	BMO MSCI China	Pair Corr
0.61	CYBR-B	Evolve Cyber Security	Pair Corr
0.82	MNT	Royal Canadian Mint	Pair Corr

Moving against Vanguard Etf

0.39

CXF

CI Canadian Convertible

Pair Corr

Related Correlations Analysis

	VLB	VGRO	VMO	VBAL	VAB	VIU	VBG	VSC	VCNS
VLB		0.42	0.14	0.57	0.96	0.67	0.48	0.83	0.67	VLB
VGRO	0.42		0.91	0.98	0.31	0.17	0.66	0.23	0.82	VGRO
VMO	0.14	0.91		0.83	0.0	-0.17	0.67	-0.08	0.63	VMO
VBAL	0.57	0.98	0.83		0.46	0.29	0.69	0.36	0.91	VBAL
VAB	0.96	0.31	0.0	0.46		0.83	0.26	0.94	0.53	VAB
VIU	0.67	0.17	-0.17	0.29	0.83		-0.17	0.93	0.3	VIU
VBG	0.48	0.66	0.67	0.69	0.26	-0.17		0.02	0.71	VBG
VSC	0.83	0.23	-0.08	0.36	0.94	0.93	0.02		0.37	VSC
VCNS	0.67	0.82	0.63	0.91	0.53	0.3	0.71	0.37		VCNS
	VLB	VGRO	VMO	VBAL	VAB	VIU	VBG	VSC	VCNS

Click cells to compare fundamentals

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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

VBAL	+ 0.98	VGRO
VAB	+ 0.96	VLB
VSC	+ 0.94	VAB
VSC	+ 0.93	VIU
VMO	+ 0.91	VGRO
VCNS	+ 0.91	VBAL

High negative correlations

VBG	- 0.17	VIU
VIU	- 0.17	VMO
VSC	- 0.08	VMO
VAB	- 0.0	VMO

Vanguard Canadian Constituents Risk-Adjusted Indicators

There is a big difference between Vanguard Etf performing well and Vanguard Canadian 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 Vanguard Canadian'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
VLB	0.57	0.00	0.01	0.03	0.70	(0.58)	1.26	(1.06)	2.99
VGRO	0.51	0.00	0.00	0.00	0.66	(0.52)	1.04	(1.19)	2.64
VMO	0.94	(0.03)	0.00	(0.04)	0.00	0.00	1.85	(2.17)	5.42
VBAL	0.41	(0.01)	(0.01)	(0.02)	0.58	(0.39)	0.87	(1.18)	2.34
VAB	0.29	0.02	0.04	0.25	0.33	(0.32)	0.60	(0.60)	1.78
VIU	0.58	0.12	0.15	0.30	0.59	(0.59)	1.41	(1.19)	3.37
VBG	0.23	(0.03)	0.00	0.87	0.00	0.00	0.43	(0.35)	2.68
VSC	0.10	0.02	0.12	0.67	0.00	(0.12)	0.25	(0.25)	0.71
VCNS	0.31	(0.02)	0.00	(0.09)	0.00	0.00	0.64	(0.76)	2.63

Be your own money manager

Our tools can tell you how much better you can do entering a position in Vanguard Canadian 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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