TD Canadian Correlations
| TTP Etf | CAD 31.29 0.08 0.26% |
The current 90-days correlation between TD Canadian Equity and TD Equity Index is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TD Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Canadian Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
TTP |
The ability to find closely correlated positions to TD 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 TD 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 TD 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 TD Canadian Equity to buy it.
Moving together with TTP Etf
| 0.87 | XIU | iShares SPTSX 60 | PairCorr |
| 0.88 | XIC | iShares Core SPTSX | PairCorr |
| 0.88 | ZCN | BMO SPTSX Capped | PairCorr |
| 0.88 | VCN | Vanguard FTSE Canada | PairCorr |
| 1.0 | HXT | Global X SPTSX | PairCorr |
| 1.0 | HXCN | Global X SPTSX | PairCorr |
| 0.95 | NSCE | NBI Sustainable Canadian | PairCorr |
| 0.88 | QCN | Mackenzie Canadian Equity | PairCorr |
| 0.99 | WXM | First Asset Morningstar | PairCorr |
| 0.82 | HEU | BetaPro SP TSX | PairCorr |
| 0.87 | HURA | Global X Uranium | PairCorr |
| 0.77 | HXE | Global X SPTSX | PairCorr |
| 0.77 | XEG | iShares SPTSX Capped | PairCorr |
| 0.98 | HFU | BetaPro SPTSX Capped | PairCorr |
| 0.81 | ENCC | Global X Canadian | PairCorr |
| 0.78 | ZEO | BMO Equal Weight | PairCorr |
| 0.99 | HXU | BetaPro SP TSX | PairCorr |
| 0.78 | JAPN | CI WisdomTree Japan | PairCorr |
| 0.97 | HSU | BetaPro SP 500 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
TD Canadian Constituents Risk-Adjusted Indicators
There is a big difference between TTP Etf performing well and TD 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 TD 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TPU | 0.64 | 0.27 | 0.17 | 63.82 | 0.31 | 1.59 | 5.63 | |||
| TPE | 0.60 | 0.13 | 0.00 | 5.67 | 0.50 | 1.37 | 3.58 | |||
| TDB | 0.23 | (0.03) | 0.00 | (2.22) | 0.00 | 0.46 | 1.31 | |||
| TQCD | 0.31 | 0.20 | 0.26 | (6.14) | 0.00 | 0.82 | 1.60 | |||
| THU | 0.61 | 0.21 | 0.11 | 1.75 | 0.59 | 1.83 | 4.83 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in TD 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?
Run Piotroski F Score Now
Piotroski F ScoreGet Piotroski F Score based on the binary analysis strategy of nine different fundamentals |
| All Next | Launch Module |