CI Munro Correlations

Etfs . Canada . 
Etf . CI Munro Alternative
CMAG Etf  CAD 40.59  0.04  0.1%   
The current 90-days correlation between CI Munro Alternative and Hamilton Enhanced Canadian is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Munro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Munro Alternative moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI Munro Correlation With Market

Average diversification

The correlation between CI Munro Alternative 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 CI Munro Alternative and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CI Munro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CI Munro 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 CI Munro - 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 CI Munro Alternative to buy it.

Moving together with CMAG Etf

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Related Correlations Analysis

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CI Munro Constituents Risk-Adjusted Indicators

There is a big difference between CMAG Etf performing well and CI Munro 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 CI Munro'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in CI Munro 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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