Mackenzie Growth Correlations

MGRW Etf

CAD 30.44 0.07 0.23%

The current 90-days correlation between Mackenzie Growth All and IA Clarington Loomis is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mackenzie Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie Growth Allocation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mackenzie Growth Correlation With Market

Very weak diversification

The correlation between Mackenzie Growth Allocation and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mackenzie Growth Allocation and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Mackenzie Etf

0.68	IGAF	IA Clarington Loomis	Pair Corr
0.98	VGRO	Vanguard Growth Portfolio	Pair Corr
0.98	XGRO	iShares Core Growth	Pair Corr
0.67	PLV	Invesco Low Volatility	Pair Corr
0.69	GGRO	iShares ESG Growth	Pair Corr
0.98	ZGRO	BMO Growth ETF	Pair Corr
0.69	HBAL	Global X Balanced	Pair Corr
0.61	HUC	Global X Crude	Pair Corr
0.94	FHE	First Trust Indxx	Pair Corr
0.98	XIC	iShares Core SPTSX	Pair Corr

Moving against Mackenzie Etf

0.99	HQD	BetaPro NASDAQ 100	Pair Corr
0.99	HIU	BetaPro SP 500	Pair Corr
0.98	HXD	BetaPro SPTSX 60	Pair Corr
0.86	HED	BetaPro SPTSX Capped	Pair Corr

Related Correlations Analysis

	IGAF	VGRO	RIRA	XGRO	PLV	GGRO	ZGRO	HBAL	TOCA	MGRW
IGAF		0.63	0.88	0.63	0.93	0.96	0.64	0.96	0.87	0.68	IGAF
VGRO	0.63		0.56	1.0	0.62	0.64	1.0	0.64	0.56	0.98	VGRO
RIRA	0.88	0.56		0.55	0.85	0.92	0.56	0.91	0.82	0.6	RIRA
XGRO	0.63	1.0	0.55		0.62	0.63	1.0	0.64	0.55	0.98	XGRO
PLV	0.93	0.62	0.85	0.62		0.95	0.62	0.95	0.82	0.67	PLV
GGRO	0.96	0.64	0.92	0.63	0.95		0.64	0.99	0.88	0.69	GGRO
ZGRO	0.64	1.0	0.56	1.0	0.62	0.64		0.64	0.55	0.98	ZGRO
HBAL	0.96	0.64	0.91	0.64	0.95	0.99	0.64		0.84	0.69	HBAL
TOCA	0.87	0.56	0.82	0.55	0.82	0.88	0.55	0.84		0.59	TOCA
MGRW	0.68	0.98	0.6	0.98	0.67	0.69	0.98	0.69	0.59		MGRW
	IGAF	VGRO	RIRA	XGRO	PLV	GGRO	ZGRO	HBAL	TOCA	MGRW

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Mackenzie Growth Constituents Risk-Adjusted Indicators

There is a big difference between Mackenzie Etf performing well and Mackenzie Growth 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 Mackenzie Growth'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
IGAF	0.53	0.10	(0.03)	1.24	0.45	(0.63)	1.19	(1.15)	3.88
VGRO	0.40	0.16	0.06	3.42	0.00	(0.45)	1.11	(0.66)	3.01
RIRA	0.46	0.10	(0.06)	(1.58)	0.52	(0.51)	1.02	(1.00)	2.79
XGRO	0.43	0.16	0.06	2.89	0.09	(0.49)	1.15	(0.78)	2.95
PLV	0.22	0.05	(0.24)	6.71	0.04	(0.26)	0.51	(0.54)	1.83
GGRO	0.39	0.17	0.09	5.39	0.00	(0.48)	0.99	(0.51)	2.76
ZGRO	0.41	0.16	0.06	4.12	0.00	(0.48)	1.15	(0.70)	3.14
HBAL	0.26	0.10	(0.06)	1.60	0.00	(0.33)	0.65	(0.37)	2.34
TOCA	0.38	0.15	0.05	1.69	0.00	(0.47)	0.80	(0.44)	2.82
MGRW	0.44	0.10	0.03	0.44	0.09	(0.60)	1.19	(0.84)	2.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mackenzie Growth 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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