Harvest Balanced Correlations

HBIG Etf

23.75 0.06 0.25%

The current 90-days correlation between Harvest Balanced Income and Harvest Premium Yield is 0.39 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harvest Balanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Balanced Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harvest Balanced Correlation With Market

Good diversification

The correlation between Harvest Balanced Income and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Balanced Income and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Harvest Etf

0.96	VBAL	Vanguard Balanced	Pair Corr
0.82	ZESG	BMO Balanced ESG	Pair Corr
0.79	GBAL	iShares ESG Balanced	Pair Corr
0.85	ZBAL	BMO Balanced ETF	Pair Corr
0.85	XCNS	iShares Core Conservative	Pair Corr
0.8	MBAL	Mackenzie Balanced	Pair Corr
0.81	CGAA	CI Global Asset	Pair Corr
0.83	FCGI	Fidelity Global Monthly	Pair Corr
0.61	HGGG	Harvest Global Gold	Pair Corr
0.69	ZGD	BMO Equal Weight	Pair Corr
0.88	BTCY	Purpose Bitcoin Yield	Pair Corr
0.85	FBTC	Fidelity Advantage	Pair Corr
0.95	HFU	BetaPro SPTSX Capped	Pair Corr
0.84	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.84	EBIT	Bitcoin ETF CAD	Pair Corr
0.87	BTCC	Purpose Bitcoin ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.78	0.63	0.82	0.71	0.95	0.5	0.79	0.17	0.56	META
MSFT	0.78		0.9	0.53	0.63	0.67	0.47	0.95	-0.23	0.22	MSFT
UBER	0.63	0.9		0.54	0.55	0.54	0.65	0.91	-0.29	0.16	UBER
F	0.82	0.53	0.54		0.7	0.87	0.63	0.66	0.34	0.72	F
T	0.71	0.63	0.55	0.7		0.75	0.3	0.67	0.29	0.45	T
A	0.95	0.67	0.54	0.87	0.75		0.46	0.72	0.28	0.66	A
CRM	0.5	0.47	0.65	0.63	0.3	0.46		0.49	-0.11	0.19	CRM
JPM	0.79	0.95	0.91	0.66	0.67	0.72	0.49		-0.13	0.36	JPM
MRK	0.17	-0.23	-0.29	0.34	0.29	0.28	-0.11	-0.13		0.55	MRK
XOM	0.56	0.22	0.16	0.72	0.45	0.66	0.19	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

A	+ 0.95	META
JPM	+ 0.95	MSFT
JPM	+ 0.91	UBER
UBER	+ 0.9	MSFT
A	+ 0.87	F
F	+ 0.82	META

High negative correlations

MRK	- 0.29	UBER
MRK	- 0.23	MSFT
MRK	- 0.13	JPM
MRK	- 0.11	CRM

Harvest Balanced Competition Risk-Adjusted Indicators

There is a big difference between Harvest Etf performing well and Harvest Balanced 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 Harvest Balanced'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	1.94	0.59	0.23	(1.72)	1.54	(2.36)	4.23	(2.56)	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	1.59	0.45	0.16	(2.14)	1.78	(1.83)	3.70	(2.72)	13.07
T	1.18	(0.01)	(0.04)	0.07	1.89	(1.11)	2.36	(2.62)	8.47
A	1.62	0.31	0.08	(0.72)	1.90	(1.78)	2.76	(3.38)	14.46
CRM	1.45	0.21	0.05	(0.92)	1.58	(1.59)	3.01	(3.30)	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

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