CIBC Flexible Correlations

CFLX Etf

CAD 16.89 0.07 0.41%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CIBC Flexible moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CIBC Flexible Yield moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CIBC Flexible Correlation With Market

Very good diversification

The correlation between CIBC Flexible Yield and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CIBC Flexible Yield and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CIBC Etf

0.86	NUBF	NBI Unconstrained Fixed	Pair Corr
0.89	MUB	Mackenzie Unconstrained	Pair Corr
0.88	ZGSB	BMO Global Strategic	Pair Corr
0.9	XSI	iShares Short Term	Pair Corr
0.91	PBD	Purpose Total Return	Pair Corr
0.95	BND	Purpose Global Bond	Pair Corr
0.86	HAF	Global X Active	Pair Corr
0.9	ZMSB	BMO Sustainable Global	Pair Corr
0.93	EARN	Evolve Active Global	Pair Corr
0.74	BTCY	Purpose Bitcoin Yield	Pair Corr
0.71	FBTC	Fidelity Advantage	Pair Corr
0.88	HFU	BetaPro SPTSX Capped	Pair Corr
0.7	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.71	EBIT	Bitcoin ETF CAD	Pair Corr
0.72	BTCC	Purpose Bitcoin ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.83	0.84	0.63	0.9	0.52	0.94	-0.11	0.33	META
MSFT	0.97		0.9	0.87	0.63	0.82	0.56	0.95	-0.23	0.22	MSFT
UBER	0.83	0.9		0.9	0.55	0.72	0.77	0.91	-0.29	0.16	UBER
F	0.84	0.87	0.9		0.65	0.83	0.66	0.92	-0.05	0.42	F
T	0.63	0.63	0.55	0.65		0.72	0.31	0.67	0.29	0.45	T
A	0.9	0.82	0.72	0.83	0.72		0.49	0.87	0.19	0.61	A
CRM	0.52	0.56	0.77	0.66	0.31	0.49		0.57	-0.18	0.14	CRM
JPM	0.94	0.95	0.91	0.92	0.67	0.87	0.57		-0.13	0.36	JPM
MRK	-0.11	-0.23	-0.29	-0.05	0.29	0.19	-0.18	-0.13		0.55	MRK
XOM	0.33	0.22	0.16	0.42	0.45	0.61	0.14	0.36	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.94	META
JPM	+ 0.92	F
JPM	+ 0.91	UBER
A	+ 0.9	META

High negative correlations

MRK	- 0.29	UBER
MRK	- 0.23	MSFT
MRK	- 0.18	CRM
MRK	- 0.13	JPM
MRK	- 0.11	META
MRK	- 0.05	F

CIBC Flexible Competition Risk-Adjusted Indicators

There is a big difference between CIBC Etf performing well and CIBC Flexible 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 CIBC Flexible'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
META	2.05	0.22	0.10	0.24	2.31	(2.34)	4.23	(3.68)	21.50
MSFT	1.20	0.34	0.23	0.45	0.94	(1.38)	2.40	(2.36)	13.79
UBER	1.97	0.28	0.13	0.31	2.17	(2.32)	5.87	(3.48)	16.18
F	1.69	0.19	0.08	0.31	2.21	(1.80)	3.70	(3.74)	13.07
T	1.18	(0.01)	(0.04)	0.07	1.89	(1.11)	2.36	(2.62)	8.47
A	1.76	(0.05)	(0.01)	0.07	2.46	(1.75)	2.76	(4.15)	14.46
CRM	1.57	(0.08)	(0.03)	0.04	2.26	(1.53)	3.01	(3.64)	13.13
JPM	1.26	0.20	0.09	0.29	1.93	(1.30)	2.75	(1.75)	11.14
MRK	1.58	(0.21)	0.00	(0.17)	0.00	0.00	3.35	(4.58)	10.58
XOM	1.41	(0.14)	0.00	(0.08)	0.00	0.00	2.62	(3.04)	10.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in CIBC Flexible 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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