CI MidCap Correlations
| UMI Etf | CAD 33.40 0.26 0.78% |
The current 90-days correlation between CI MidCap Dividend and CI Canadian Aggregate is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI MidCap moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI MidCap Dividend moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
CI MidCap Correlation With Market
Weak diversification
The correlation between CI MidCap Dividend 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 CI MidCap Dividend and DJI in the same portfolio, assuming nothing else is changed.
UMI |
The ability to find closely correlated positions to CI MidCap 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 MidCap 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 MidCap - 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 MidCap Dividend to buy it.
Moving together with UMI Etf
| 0.97 | XSU | iShares Small Cap | PairCorr |
| 0.95 | XMC | iShares SP Mid | PairCorr |
| 0.97 | XMH | iShares SP Mid | PairCorr |
| 0.97 | MUMC | Manulife Multifactor Mid | PairCorr |
| 0.97 | XSMH | iShares SP Small | PairCorr |
| 0.7 | DXZ | Dynamic Active Mid | PairCorr |
| 0.95 | TQSM | TD Q Small | PairCorr |
| 0.93 | HCAL | Hamilton Enhanced | PairCorr |
| 0.95 | HBGD | Global X Big | PairCorr |
| 0.92 | HBGD-U | Global X Big | PairCorr |
| 0.94 | HBF-B | Harvest Brand Leaders | PairCorr |
| 0.73 | GDPY-B | Guardian Directed Premium | PairCorr |
| 0.97 | EQL-U | Invesco SP 500 | PairCorr |
| 0.9 | DISC | BMO Global Consumer | PairCorr |
| 0.95 | ZBAL | BMO Balanced ETF | PairCorr |
| 0.92 | XIC | iShares Core SPTSX | PairCorr |
Related Correlations Analysis
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Our tools can tell you how much better you can do entering a position in CI MidCap 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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