AGFiQ Market Correlations
| QBTL Etf | CAD 17.29 0.10 0.58% |
The current 90-days correlation between AGFiQ Market Neutral and Purpose Tactical Hedged is -0.5 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AGFiQ Market moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AGFiQ Market Neutral moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
AGFiQ Market Correlation With Market
Good diversification
The correlation between AGFiQ Market Neutral and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AGFiQ Market Neutral and DJI in the same portfolio, assuming nothing else is changed.
AGFiQ |
The ability to find closely correlated positions to AGFiQ Market could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AGFiQ Market 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 AGFiQ Market - 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 AGFiQ Market Neutral to buy it.
Moving against AGFiQ Etf
| 0.96 | VBAL | Vanguard Balanced | PairCorr |
| 0.96 | HXS | Global X SP | PairCorr |
| 0.95 | HFU | BetaPro SPTSX Capped | PairCorr |
| 0.95 | XIC | iShares Core SPTSX | PairCorr |
| 0.95 | ZBAL | BMO Balanced ETF | PairCorr |
| 0.94 | PMM | Purpose Multi Strategy | PairCorr |
| 0.94 | HBKU | BetaPro Equal Weight | PairCorr |
| 0.94 | XIT | iShares SPTSX Capped | PairCorr |
| 0.92 | ACZ | Middlefield Equity | PairCorr |
| 0.92 | FBAL | Fidelity All in | PairCorr |
| 0.91 | ZRE | BMO Equal Weight | PairCorr |
| 0.9 | VI | Vanguard FTSE Developed | PairCorr |
| 0.89 | BTCY | Purpose Bitcoin Yield | PairCorr |
| 0.89 | PRA | Purpose Diversified Real | PairCorr |
| 0.88 | BTCC | Purpose Bitcoin ETF | PairCorr |
| 0.88 | FSF | CI Global Financial | PairCorr |
| 0.86 | FBTC | Fidelity Advantage | PairCorr |
| 0.86 | EBIT | Bitcoin ETF CAD | PairCorr |
| 0.85 | BTCQ | 3iQ Bitcoin ETF | PairCorr |
| 0.85 | ETC | Evolve Cryptocurrencies | PairCorr |
| 0.79 | ZWP | BMO Europe High | PairCorr |
| 0.63 | PFMN | Picton Mahoney Fortified | PairCorr |
| 0.59 | ZGD | BMO Equal Weight | PairCorr |
| 0.49 | DANC | Desjardins Alt LongShort | PairCorr |
Related Correlations Analysis
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AGFiQ Market Constituents Risk-Adjusted Indicators
There is a big difference between AGFiQ Etf performing well and AGFiQ Market 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 AGFiQ Market'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PHE | 0.35 | 0.14 | 0.06 | 1.02 | 0.00 | 1.38 | 2.62 | |||
| PRA | 0.52 | 0.09 | (0.04) | 1.20 | 0.57 | 1.26 | 3.59 | |||
| PBI | 0.74 | 0.18 | 0.13 | 0.56 | 0.42 | 1.73 | 5.83 | |||
| PBD | 0.19 | 0.03 | (0.39) | 0.46 | 0.00 | 0.49 | 1.15 | |||
| PIN | 0.23 | 0.05 | (0.19) | 0.44 | 0.00 | 0.69 | 1.48 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in AGFiQ Market 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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