PHN Multi Correlations

0P0000OXA6

CAD 26.70 0.27 1.02%

The current 90-days correlation between PHN Multi Style and RBC Dividend is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PHN Multi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PHN Multi Style All Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PHN Multi Correlation With Market

Good diversification

The correlation between PHN Multi Style All Cap and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PHN Multi Style All Cap and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PHN Multi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PHN Multi 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 PHN Multi - 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 PHN Multi Style All Cap to buy it.

Moving together with PHN Fund

0.84	0P000077P2	RBC Dividend	Pair Corr
0.7	0P000071W8	TD Index Fund	Pair Corr
0.8	0P000070HA	CI Global Alpha	Pair Corr
0.72	0P00007138	RBC sciences biologiques	Pair Corr

Related Correlations Analysis

	0P000077P2	XHB	EDGF	SOLR	0P0000OXA6	ALA-PA	ECO	TKU	ERE-UN
0P000077P2		0.13	0.51	-0.19	0.84	-0.07	0.39	-0.36	0.36	0P000077P2
XHB	0.13		0.52	-0.25	0.19	-0.38	-0.07	-0.01	0.85	XHB
EDGF	0.51	0.52		-0.26	0.54	-0.09	0.23	-0.23	0.58	EDGF
SOLR	-0.19	-0.25	-0.26		-0.17	0.07	-0.23	0.09	-0.27	SOLR
0P0000OXA6	0.84	0.19	0.54	-0.17		-0.06	0.49	-0.34	0.4	0P0000OXA6
ALA-PA	-0.07	-0.38	-0.09	0.07	-0.06		-0.36	0.34	-0.51	ALA-PA
ECO	0.39	-0.07	0.23	-0.23	0.49	-0.36		-0.53	0.26	ECO
TKU	-0.36	-0.01	-0.23	0.09	-0.34	0.34	-0.53		-0.25	TKU
ERE-UN	0.36	0.85	0.58	-0.27	0.4	-0.51	0.26	-0.25		ERE-UN
	0P000077P2	XHB	EDGF	SOLR	0P0000OXA6	ALA-PA	ECO	TKU	ERE-UN

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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 PHN Fund performing well and PHN Multi 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 PHN Multi'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
0P000077P2	0.56	0.02	(0.08)	(0.68)	0.79	(0.53)	1.09	(1.15)	3.73
XHB	0.22	0.05	(0.18)	(1.10)	0.00	(0.27)	0.46	(0.31)	1.09
EDGF	0.71	0.04	(0.03)	0.43	1.05	(0.93)	1.58	(2.21)	6.93
SOLR	2.70	0.17	0.00	0.28	0.00	0.00	20.00	(16.67)	45.00
0P0000OXA6	0.66	0.05	(0.05)	(0.46)	0.92	(0.63)	1.27	(1.61)	3.78
ALA-PA	0.45	(0.02)	0.00	(0.08)	0.00	0.00	0.92	(1.24)	3.10
ECO	1.23	(0.01)	(0.05)	0.04	1.35	(1.47)	2.83	(2.30)	7.65
TKU	9.36	0.84	0.03	(0.44)	10.64	(28.79)	33.33	(25.00)	58.33
ERE-UN	1.45	0.39	0.25	0.51	0.97	(1.89)	3.95	(2.25)	11.11

Be your own money manager

Our tools can tell you how much better you can do entering a position in PHN Multi 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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