TD Index Correlations

Funds . Canada . 
Fund . TD Index Fund
0P000071W8  CAD 135.47  1.83  1.33%   
The current 90-days correlation between TD Index Fund and RBC Dividend is 0.17 (i.e., Average diversification). The correlation of TD Index 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.

TD Index Correlation With Market

Significant diversification

The correlation between TD Index Fund and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD Index Fund and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TD Index 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 Index 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 Index - 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 Index Fund to buy it.

Moving together with 0P000071W8 Fund

  0.70P0000OXA6 PHN Multi StylePairCorr
  0.870P000077P2 RBC DividendPairCorr
  0.630P00007138 RBC sciences biologiquesPairCorr

Related Correlations Analysis

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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   
ERE-UN
+ 0.85
XHB
0P0000OXA6
+ 0.84
0P000077P2
ERE-UN
+ 0.58
EDGF
0P0000OXA6
+ 0.54
EDGF
EDGF
+ 0.52
XHB
EDGF
+ 0.51
0P000077P2
  
High negative correlations   
TKU
- 0.53
ECO
ERE-UN
- 0.51
ALA-PA
ALA-PA
- 0.38
XHB
ECO
- 0.36
ALA-PA
TKU
- 0.36
0P000077P2
TKU
- 0.34
0P0000OXA6

Risk-Adjusted Indicators

There is a big difference between 0P000071W8 Fund performing well and TD Index Fund 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 Index'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 TD Index 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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