NBI Global Correlations
| NREA Etf | CAD 24.35 0.13 0.54% |
The current 90-days correlation between NBI Global Real and TD Active Global is 0.5 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NBI Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NBI Global Real moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
NBI Global Correlation With Market
Good diversification
The correlation between NBI Global Real 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 NBI Global Real and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to NBI Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NBI Global 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 NBI Global - 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 NBI Global Real to buy it.
Moving together with NBI Etf
| 0.93 | RIIN | Russell Investments | PairCorr |
| 0.78 | CINF | CI Global Infrastructure | PairCorr |
| 0.91 | TINF | TD Active Global | PairCorr |
| 0.79 | CIF | iShares Global Infra | PairCorr |
| 0.88 | DXN | Dynamic Active Global | PairCorr |
| 0.74 | BREA | Brompton Sustainable Real | PairCorr |
| 0.77 | QINF | Mackenzie Global Inf | PairCorr |
| 0.74 | HCAL | Hamilton Enhanced | PairCorr |
| 0.7 | HBGD | Global X Big | PairCorr |
| 0.61 | HBGD-U | Global X Big | PairCorr |
| 0.66 | HBF-B | Harvest Brand Leaders | PairCorr |
| 0.68 | GDPY-B | Guardian Directed Premium | PairCorr |
| 0.76 | EQL-U | Invesco SP 500 | PairCorr |
| 0.81 | DISC | BMO Global Consumer | PairCorr |
Related Correlations Analysis
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NBI Global Constituents Risk-Adjusted Indicators
There is a big difference between NBI Etf performing well and NBI Global 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 NBI Global'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TGRE | 0.69 | 0.09 | (0.05) | (1.34) | 0.88 | 1.50 | 4.61 | |||
| TGED | 0.58 | 0.20 | 0.11 | 1.55 | 0.46 | 1.75 | 3.43 | |||
| TUED | 0.76 | 0.22 | 0.11 | 1.39 | 0.66 | 2.29 | 4.52 | |||
| TGGR | 0.70 | 0.10 | 0.00 | 0.55 | 0.72 | 1.54 | 4.46 | |||
| TQGD | 0.64 | 0.16 | 0.04 | 1.70 | 0.66 | 1.48 | 4.02 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NBI Global 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.Did you try this?
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Fundamental AnalysisView fundamental data based on most recent published financial statements |
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