Purpose Conservative Correlations

PRP Etf

CAD 19.65 0.02 0.10%

The current 90-days correlation between Purpose Conservative and Purpose Bitcoin Yield is -0.02 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purpose Conservative moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Conservative Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Purpose Conservative Correlation With Market

Weak diversification

The correlation between Purpose Conservative Income and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purpose Conservative Income and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Purpose Etf

0.88	VBAL	Vanguard Balanced	Pair Corr
0.88	XBAL	iShares Core Balanced	Pair Corr
0.89	ZMI	BMO Monthly Income	Pair Corr
0.88	ZESG	BMO Balanced ESG	Pair Corr
0.88	GBAL	iShares ESG Balanced	Pair Corr
0.88	ZBAL	BMO Balanced ETF	Pair Corr
0.88	XCNS	iShares Core Conservative	Pair Corr
0.88	MBAL	Mackenzie Balanced	Pair Corr
0.88	CGAA	CI Global Asset	Pair Corr
0.86	FCGI	Fidelity Global Monthly	Pair Corr
0.88	XIU	iShares SPTSX 60	Pair Corr
0.88	XSP	iShares Core SP	Pair Corr
0.88	XIC	iShares Core SPTSX	Pair Corr
0.88	ZCN	BMO SPTSX Capped	Pair Corr
0.85	ZSP	BMO SP 500	Pair Corr
0.85	VFV	Vanguard SP 500	Pair Corr
0.88	ZEB	BMO SPTSX Equal	Pair Corr

Moving against Purpose Etf

0.54

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	BTCY-B	SOLL-U	PYF-B	FLOT-U	ETHY	SBT-U	PRP	IGB	PAYF
BTCY-B		0.5	-0.86	0.74	0.95	0.66	0.77	0.8	0.89	BTCY-B
SOLL-U	0.5		-0.43	0.0	0.52	-0.13	0.07	0.06	0.24	SOLL-U
PYF-B	-0.86	-0.43		-0.76	-0.89	-0.58	-0.75	-0.75	-0.83	PYF-B
FLOT-U	0.74	0.0	-0.76		0.77	0.82	0.84	0.88	0.86	FLOT-U
ETHY	0.95	0.52	-0.89	0.77		0.67	0.72	0.77	0.85	ETHY
SBT-U	0.66	-0.13	-0.58	0.82	0.67		0.68	0.81	0.76	SBT-U
PRP	0.77	0.07	-0.75	0.84	0.72	0.68		0.9	0.88	PRP
IGB	0.8	0.06	-0.75	0.88	0.77	0.81	0.9		0.93	IGB
PAYF	0.89	0.24	-0.83	0.86	0.85	0.76	0.88	0.93		PAYF
	BTCY-B	SOLL-U	PYF-B	FLOT-U	ETHY	SBT-U	PRP	IGB	PAYF

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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

ETHY	+ 0.95	BTCY-B
PAYF	+ 0.93	IGB
IGB	+ 0.9	PRP
PAYF	+ 0.89	BTCY-B
IGB	+ 0.88	FLOT-U
PAYF	+ 0.88	PRP

High negative correlations

ETHY	- 0.89	PYF-B
PYF-B	- 0.86	BTCY-B
PAYF	- 0.83	PYF-B
FLOT-U	- 0.76	PYF-B
IGB	- 0.75	PYF-B
PRP	- 0.75	PYF-B

Purpose Conservative Constituents Risk-Adjusted Indicators

There is a big difference between Purpose Etf performing well and Purpose Conservative 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 Purpose Conservative'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
BTCY-B	1.53	0.46	0.21	49.11	1.28	(1.81)	3.86	(2.60)	8.37
SOLL-U	2.93	0.48	0.12	1.97	2.88	(3.47)	9.36	(4.86)	17.75
PYF-B	0.26	(0.12)	0.00	6.03	0.00	0.00	0.00	(0.59)	6.30
FLOT-U	0.18	0.03	0.00	0.82	0.00	0.00	0.69	(0.67)	2.40
ETHY	2.94	1.12	0.41	3.84	1.73	(4.24)	7.32	(3.97)	21.46
SBT-U	1.11	0.28	0.12	(1.64)	0.80	(1.48)	3.10	(1.47)	6.77
PRP	0.23	0.01	(0.34)	0.18	0.19	(0.29)	0.47	(0.51)	1.69
IGB	0.19	0.03	(0.39)	0.44	0.00	(0.25)	0.49	(0.33)	1.34
PAYF	0.37	0.09	(0.05)	1.23	0.13	(0.50)	1.23	(0.75)	2.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in Purpose Conservative 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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