Middlefield Healthcare Correlations

LS Etf

CAD 10.71 0.08 0.74%

The current 90-days correlation between Middlefield Healthcare and Middlefield Sustainable Infrastructure is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Middlefield Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Middlefield Healthcare Life moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Middlefield Healthcare Correlation With Market

Very weak diversification

The correlation between Middlefield Healthcare Life and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Middlefield Healthcare Life and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Middlefield Etf

0.54	FTN	Financial 15 Split	Pair Corr
0.53	XIC	iShares Core SPTSX	Pair Corr
0.48	DRMU	Desjardins RI USA	Pair Corr
0.33	QDX	Mackenzie International	Pair Corr
0.33	QCN	Mackenzie Canadian Equity	Pair Corr
0.32	QCE	Mackenzie Canadian Large	Pair Corr
0.31	FHH	First Trust AlphaDEX	Pair Corr
0.31	ZBAL	BMO Balanced ETF	Pair Corr

Related Correlations Analysis

	MINF	MHCD	LS	ACZ	MREL	MDIV	MUSA	NHYB	AGLB
MINF		-0.12	-0.42	0.9	0.94	0.93	0.91	0.95	0.0	MINF
MHCD	-0.12		0.67	-0.19	-0.11	-0.11	-0.14	-0.11	0.0	MHCD
LS	-0.42	0.67		-0.43	-0.45	-0.45	-0.39	-0.41	0.0	LS
ACZ	0.9	-0.19	-0.43		0.9	0.95	0.98	0.93	0.0	ACZ
MREL	0.94	-0.11	-0.45	0.9		0.93	0.9	0.93	0.0	MREL
MDIV	0.93	-0.11	-0.45	0.95	0.93		0.95	0.94	0.0	MDIV
MUSA	0.91	-0.14	-0.39	0.98	0.9	0.95		0.92	0.0	MUSA
NHYB	0.95	-0.11	-0.41	0.93	0.93	0.94	0.92		0.0	NHYB
AGLB	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		AGLB
	MINF	MHCD	LS	ACZ	MREL	MDIV	MUSA	NHYB	AGLB

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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

MUSA	+ 0.98	ACZ
NHYB	+ 0.95	MINF
MDIV	+ 0.95	ACZ
MUSA	+ 0.95	MDIV
MREL	+ 0.94	MINF
NHYB	+ 0.94	MDIV

High negative correlations

MDIV	- 0.45	LS
MREL	- 0.45	LS
ACZ	- 0.43	LS
LS	- 0.42	MINF
NHYB	- 0.41	LS
MUSA	- 0.39	LS

Middlefield Healthcare Constituents Risk-Adjusted Indicators

There is a big difference between Middlefield Etf performing well and Middlefield Healthcare 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 Middlefield Healthcare'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
MINF	0.46	0.14	0.06	0.78	0.17	(0.58)	1.04	(0.83)	2.55
MHCD	0.73	(0.06)	0.00	(0.40)	0.00	0.00	1.43	(1.67)	5.97
LS	0.70	(0.12)	0.00	(0.11)	0.00	0.00	1.43	(1.65)	5.90
ACZ	0.48	0.11	0.00	0.44	0.00	0.00	1.93	(0.69)	6.08
MREL	0.63	0.16	0.04	2.02	0.49	(0.74)	1.39	(1.22)	4.05
MDIV	0.62	0.12	0.02	0.62	0.76	(0.74)	1.59	(1.15)	4.54
MUSA	0.70	0.13	0.03	0.72	0.84	(0.77)	1.65	(1.59)	4.42
NHYB	0.32	0.06	(0.17)	10.91	0.20	(0.47)	0.87	(0.51)	2.74
AGLB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Middlefield Healthcare 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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