IShares SPTSX Correlations

XCS Etf

CAD 21.69 0.14 0.65%

The current 90-days correlation between iShares SPTSX Small and iShares Convertible Bond is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares SPTSX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares SPTSX Small moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares SPTSX Correlation With Market

Weak diversification

The correlation between iShares SPTSX Small and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SPTSX Small and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IShares Etf

0.96	XMD	iShares SPTSX Completion	Pair Corr
0.98	MCSM	Manulife Multifactor	Pair Corr
0.92	HURA	Global X Uranium	Pair Corr
0.85	HQU	BetaPro NASDAQ 100	Pair Corr
0.66	HBLK	Blockchain Technologies	Pair Corr
0.83	TEC	TD Global Technology	Pair Corr
0.74	ENCC	Global X Canadian	Pair Corr
0.84	ZNQ	BMO NASDAQ 100	Pair Corr
0.86	HTA	Harvest Tech Achievers	Pair Corr
0.67	XIT	iShares SPTSX Capped	Pair Corr

Related Correlations Analysis

	CVD	XMH	XMS	XFLX	XFLB	XST	XSI	XGD	XEC
CVD		0.57	0.47	-0.6	-0.61	0.19	0.21	0.38	0.86	CVD
XMH	0.57		0.87	-0.55	-0.46	0.69	0.33	-0.1	0.38	XMH
XMS	0.47	0.87		-0.37	-0.31	0.72	0.39	-0.01	0.28	XMS
XFLX	-0.6	-0.55	-0.37		0.69	-0.15	0.22	-0.08	-0.51	XFLX
XFLB	-0.61	-0.46	-0.31	0.69		0.1	0.44	-0.22	-0.57	XFLB
XST	0.19	0.69	0.72	-0.15	0.1		0.62	-0.36	-0.02	XST
XSI	0.21	0.33	0.39	0.22	0.44	0.62		-0.04	0.14	XSI
XGD	0.38	-0.1	-0.01	-0.08	-0.22	-0.36	-0.04		0.52	XGD
XEC	0.86	0.38	0.28	-0.51	-0.57	-0.02	0.14	0.52		XEC
	CVD	XMH	XMS	XFLX	XFLB	XST	XSI	XGD	XEC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

XMS	+ 0.87	XMH
XEC	+ 0.86	CVD
XST	+ 0.72	XMS
XST	+ 0.69	XMH
XFLB	+ 0.69	XFLX
XSI	+ 0.62	XST

High negative correlations

XFLB	- 0.61	CVD
XFLX	- 0.6	CVD
XEC	- 0.57	XFLB
XFLX	- 0.55	XMH
XEC	- 0.51	XFLX
XFLB	- 0.46	XMH

IShares SPTSX Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SPTSX 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 IShares SPTSX'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
CVD	0.34	0.00	(0.21)	0.16	0.42	(0.39)	0.82	(0.80)	2.43
XMH	0.72	0.07	0.02	0.26	0.69	(0.82)	1.79	(1.07)	5.38
XMS	0.42	0.02	(0.13)	0.20	0.34	(0.49)	0.98	(0.90)	2.87
XFLX	0.11	0.00	(0.43)	0.18	0.08	(0.21)	0.28	(0.25)	1.06
XFLB	0.66	0.03	(0.13)	(0.27)	0.64	(1.17)	1.98	(1.31)	4.71
XST	0.59	0.04	(0.09)	0.41	0.61	(0.66)	1.36	(1.02)	3.18
XSI	0.15	0.00	(0.59)	0.21	0.09	(0.19)	0.35	(0.29)	0.76
XGD	1.32	(0.05)	(0.07)	0.01	1.84	(1.34)	2.66	(2.77)	10.61
XEC	0.68	0.01	(0.10)	0.18	0.83	(0.75)	1.62	(1.71)	5.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares SPTSX 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.

Did you try this?

Run Sync Your Broker Now

Sync Your Broker

Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC