Ninepoint Web3 Correlations

TKN-U Etf

21.05 0.44 2.13%

The current 90-days correlation between Ninepoint Web3 Innovators and iShares SPTSX 60 is -0.02 (i.e., Good diversification). The correlation of Ninepoint Web3 is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Ninepoint Web3 Correlation With Market

Weak diversification

The correlation between Ninepoint Web3 Innovators 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 Ninepoint Web3 Innovators and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Ninepoint Web3 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ninepoint Web3 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 Ninepoint Web3 - 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 Ninepoint Web3 Innovators to buy it.

Moving together with Ninepoint Etf

0.97	XIU	iShares SPTSX 60	Pair Corr
0.97	XSP	iShares Core SP	Pair Corr
0.97	XIC	iShares Core SPTSX	Pair Corr
0.97	ZCN	BMO SPTSX Capped	Pair Corr
0.96	ZSP	BMO SP 500	Pair Corr
0.96	VFV	Vanguard SP 500	Pair Corr
0.97	ZEB	BMO SPTSX Equal	Pair Corr
0.93	FBTC	Fidelity Advantage	Pair Corr
0.95	BTCY	Purpose Bitcoin Yield	Pair Corr
0.93	EBIT	Bitcoin ETF CAD	Pair Corr
0.92	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.94	BTCC	Purpose Bitcoin ETF	Pair Corr
0.93	ETC	Evolve Cryptocurrencies	Pair Corr
0.96	HBKU	BetaPro Equal Weight	Pair Corr
0.98	HFU	BetaPro SPTSX Capped	Pair Corr

Moving against Ninepoint Etf

0.78	TCLB	TD Canadian Long	Pair Corr
0.35	ZAG	BMO Aggregate Bond	Pair Corr
0.33	XBB	iShares Canadian Universe	Pair Corr

Related Correlations Analysis

	XIU	XSP	XIC	ZAG	XBB	ZCN	ZSP	TCLB	VFV	ZEB
XIU		0.98	1.0	-0.22	-0.21	1.0	0.97	-0.69	0.97	0.99	XIU
XSP	0.98		0.98	-0.2	-0.18	0.98	0.99	-0.68	0.99	0.98	XSP
XIC	1.0	0.98		-0.24	-0.22	1.0	0.96	-0.71	0.96	0.99	XIC
ZAG	-0.22	-0.2	-0.24		0.99	-0.24	-0.19	0.83	-0.19	-0.25	ZAG
XBB	-0.21	-0.18	-0.22	0.99		-0.22	-0.18	0.82	-0.18	-0.23	XBB
ZCN	1.0	0.98	1.0	-0.24	-0.22		0.96	-0.71	0.96	0.99	ZCN
ZSP	0.97	0.99	0.96	-0.19	-0.18	0.96		-0.66	1.0	0.96	ZSP
TCLB	-0.69	-0.68	-0.71	0.83	0.82	-0.71	-0.66		-0.66	-0.72	TCLB
VFV	0.97	0.99	0.96	-0.19	-0.18	0.96	1.0	-0.66		0.96	VFV
ZEB	0.99	0.98	0.99	-0.25	-0.23	0.99	0.96	-0.72	0.96		ZEB
	XIU	XSP	XIC	ZAG	XBB	ZCN	ZSP	TCLB	VFV	ZEB

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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

XIC	+ 1.0	XIU
ZCN	+ 1.0	XIU
ZCN	+ 1.0	XIC
VFV	+ 1.0	ZSP
ZEB	+ 0.99	XIU
ZSP	+ 0.99	XSP

High negative correlations

ZEB	- 0.72	TCLB
TCLB	- 0.71	ZCN
TCLB	- 0.71	XIC
TCLB	- 0.69	XIU
TCLB	- 0.68	XSP
VFV	- 0.66	TCLB

Ninepoint Web3 Constituents Risk-Adjusted Indicators

There is a big difference between Ninepoint Etf performing well and Ninepoint Web3 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 Ninepoint Web3'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
XIU	0.40	0.18	0.12	28.20	0.00	(0.52)	0.93	(0.64)	2.48
XSP	0.64	0.21	0.10	2.20	0.54	(0.75)	1.54	(1.19)	4.93
XIC	0.35	0.19	0.17	7.71	0.00	(0.45)	0.90	(0.53)	2.01
ZAG	0.25	(0.03)	0.00	(1.29)	0.00	0.00	0.43	(0.58)	1.45
XBB	0.26	(0.03)	0.00	(1.38)	0.00	0.00	0.39	(0.64)	1.28
ZCN	0.36	0.19	0.18	8.22	0.00	(0.46)	0.89	(0.52)	1.91
ZSP	0.74	0.19	0.07	1.69	0.74	(0.81)	1.84	(1.66)	5.69
TCLB	0.53	(0.10)	0.00	(1.80)	0.00	0.00	0.76	(1.41)	3.39
VFV	0.74	0.19	0.08	1.68	0.74	(0.83)	1.74	(1.66)	5.69
ZEB	0.35	0.28	0.51	19.14	0.00	(0.51)	0.87	(0.41)	2.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ninepoint Web3 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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