IShares Canadian Correlations

XSB Etf  CAD 26.66  0.11  0.41%   
The current 90-days correlation between iShares Canadian Short and iShares 1 10Yr Laddered is 0.87 (i.e., Very poor 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 Short moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Canadian Correlation With Market

Good diversification

The correlation between iShares Canadian Short and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Canadian Short 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 Short to buy it.

Moving together with IShares Etf

  1.0XSH iShares Core CanadianPairCorr
  1.0ZCS BMO Short CorporatePairCorr
  1.0VSB Vanguard Canadian ShortPairCorr
  0.98ZST BMO Ultra ShortPairCorr
  1.0CBO iShares 1 5PairCorr
  1.0PSB Invesco 1 5PairCorr
  0.96XFR iShares Floating RatePairCorr
  1.0CLF iShares 1 5PairCorr
  1.0ZFS BMO Short FederalPairCorr
  0.61HED BetaPro SPTSX CappedPairCorr
  0.82FHE First Trust IndxxPairCorr

Moving against IShares Etf

  0.89HOU BetaPro Crude OilPairCorr
  0.83HXD BetaPro SPTSX 60PairCorr
  0.71HBLK Blockchain TechnologiesPairCorr

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 Correlation Analysis Now

   

Correlation Analysis

Reduce portfolio risk simply by holding instruments which are not perfectly correlated
All  Next Launch Module