IShares Canadian Correlations

Etfs . Canada . 
Etf . iShares Canadian HYBrid
XHB Etf  CAD 19.75  0.02  0.10%   
The current 90-days correlation between iShares Canadian HYBrid and iShares IG Corporate is 0.58 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Canadian HYBrid moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Canadian Correlation With Market

Significant diversification

The correlation between iShares Canadian HYBrid and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Canadian HYBrid and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares 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 IShares 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 IShares 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 iShares Canadian HYBrid to buy it.

Moving together with IShares Etf

  0.89XCB iShares Core CanadianPairCorr
  0.84ZCM BMO Mid CorporatePairCorr
  0.87HAB Global X ActivePairCorr
  0.89CBH iShares 1 10YrPairCorr
  0.79NSCC NBI Sustainable CanadianPairCorr
  0.91RQO RBC Target 2026PairCorr
  0.88CACB CIBC Active InvestmentPairCorr
  0.89FLCI Franklin Bissett CorPairCorr
  0.95RQP RBC Target 2027PairCorr
  0.61HEU BetaPro SP TSXPairCorr
  0.63HXE Global X SPTSXPairCorr
  0.62XEG iShares SPTSX CappedPairCorr
  0.64HFU BetaPro SPTSX CappedPairCorr
  0.66ENCC Global X CanadianPairCorr
  0.68ZEO BMO Equal WeightPairCorr
  0.64HXU BetaPro SP TSXPairCorr
  0.73JAPN CI WisdomTree JapanPairCorr
  0.67HSU BetaPro SP 500PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

IShares Canadian Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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 IShares 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares 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 AI Portfolio Architect Now

   

AI Portfolio Architect

Use AI to generate optimal portfolios and find profitable investment opportunities
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY