CI Canadian Correlations
| RIT Etf | CAD 16.96 0.04 0.24% |
The current 90-days correlation between CI Canadian REIT and iShares SPTSX Capped is 0.97 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Canadian REIT moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
CI Canadian Correlation With Market
Significant diversification
The correlation between CI Canadian REIT and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Canadian REIT and DJI in the same portfolio, assuming nothing else is changed.
RIT |
The ability to find closely correlated positions to CI Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CI Canadian 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 CI Canadian - 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 CI Canadian REIT to buy it.
Moving together with RIT Etf
| 1.0 | XRE | iShares SPTSX Capped | PairCorr |
| 1.0 | ZRE | BMO Equal Weight | PairCorr |
| 0.98 | VRE | Vanguard FTSE Canadian | PairCorr |
| 0.73 | CGR | iShares Global Real | PairCorr |
| 0.87 | CGRE | CI Global REIT | PairCorr |
| 0.7 | TGRE | TD Active Global | PairCorr |
| 0.99 | HCRE | Global X Equal | PairCorr |
| 0.69 | HGR | Harvest Global REIT | PairCorr |
| 0.81 | HEU | BetaPro SP TSX | PairCorr |
| 0.94 | HURA | Global X Uranium | PairCorr |
| 0.82 | HXE | Global X SPTSX | PairCorr |
| 0.83 | XEG | iShares SPTSX Capped | PairCorr |
| 0.95 | HFU | BetaPro SPTSX Capped | PairCorr |
| 0.88 | ENCC | Global X Canadian | PairCorr |
| 0.85 | ZEO | BMO Equal Weight | PairCorr |
| 0.96 | HXU | BetaPro SP TSX | PairCorr |
| 0.93 | JAPN | CI WisdomTree Japan | PairCorr |
| 0.93 | HSU | BetaPro SP 500 | PairCorr |
| 0.97 | XIC | iShares Core SPTSX | PairCorr |
| 0.85 | PRA | Purpose Diversified Real | PairCorr |
| 0.93 | ZBAL | BMO Balanced ETF | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
CI Canadian Constituents Risk-Adjusted Indicators
There is a big difference between RIT Etf performing well and CI Canadian 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 CI Canadian'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ZRE | 0.55 | 0.18 | 0.07 | (4.28) | 0.33 | 1.34 | 4.34 | |||
| VRE | 0.61 | 0.16 | 0.04 | 5.78 | 0.61 | 1.53 | 3.81 | |||
| XRE | 0.64 | 0.19 | 0.07 | (13.90) | 0.49 | 1.36 | 4.54 | |||
| ZUT | 0.41 | 0.18 | 0.08 | (2.01) | 0.00 | 1.07 | 3.42 | |||
| ZLB | 0.36 | 0.13 | (0.01) | (2.41) | 0.00 | 0.96 | 2.17 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in CI Canadian 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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Portfolio RebalancingAnalyze risk-adjusted returns against different time horizons to find asset-allocation targets |
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