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 0.13 (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

Good diversification

The correlation between CI MidCap Dividend 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 CI MidCap Dividend and DJI in the same portfolio, assuming nothing else is changed.

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

0.8	XSU	iShares Small Cap	Pair Corr
0.77	XMC	iShares SP Mid	Pair Corr
0.79	XMH	iShares SP Mid	Pair Corr
0.79	MUMC	Manulife Multifactor Mid	Pair Corr
0.97	XSMH	iShares SP Small	Pair Corr
0.93	TQSM	TD Q Small	Pair Corr
0.76	HCAL	Hamilton Enhanced	Pair Corr
0.79	HBGD	Global X Big	Pair Corr
0.81	HBGD-U	Global X Big	Pair Corr
0.85	HBF-B	Harvest Brand Leaders	Pair Corr
0.78	EQL-U	Invesco SP 500	Pair Corr
0.68	DISC	BMO Global Consumer	Pair Corr
0.78	ZBAL	BMO Balanced ETF	Pair Corr
0.74	XIC	iShares Core SPTSX	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.56	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.55	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.5	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.72	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.22	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.67	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.11	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.64	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.55	MRK
XOM	0.56	0.55	0.5	0.72	0.22	0.67	-0.11	0.64	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.11	CRM

CI MidCap Competition Risk-Adjusted Indicators

There is a big difference between UMI Etf performing well and CI MidCap 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 MidCap'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
META	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.05	(0.04)	0.41	1.36	(1.15)	2.40	(2.58)	5.84

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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.

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