RBC Select Correlations

0P000071P8

CAD 24.35 0.04 0.16%

The current 90-days correlation between RBC Select Choices and RBC dactions mondiales is 0.94 (i.e., Almost no diversification). The correlation of RBC Select 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.

RBC Select Correlation With Market

Weak diversification

The correlation between RBC Select Choices and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RBC Select Choices and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to RBC Select could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RBC Select 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 RBC Select - 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 RBC Select Choices to buy it.

Moving together with RBC Fund

0.92	0P0000IUYO	Edgepoint Global Por	Pair Corr
0.97	0P00012UCU	RBC Global Equity	Pair Corr
0.96	0P0001FAU5	TD Comfort Aggressive	Pair Corr
0.95	0P0001D8QF	BMO Concentrated Global	Pair Corr
0.79	0P00007065	RBC mondial dnergie	Pair Corr
0.9	0P000075FV	Fidelity Canadian Growth	Pair Corr

Related Correlations Analysis

	0P00012DD2	0P00018PVY	0P00007138	0P000077P2	0P00007061	0P00017YCD	0P0000706A	0P00007069	0P000071P8
0P00012DD2		-0.59	0.97	0.99	0.97	0.94	0.96	0.96	0.97	0P00012DD2
0P00018PVY	-0.59		-0.52	-0.63	-0.53	-0.43	-0.41	-0.42	-0.42	0P00018PVY
0P00007138	0.97	-0.52		0.97	0.93	0.93	0.94	0.95	0.96	0P00007138
0P000077P2	0.99	-0.63	0.97		0.94	0.93	0.93	0.94	0.95	0P000077P2
0P00007061	0.97	-0.53	0.93	0.94		0.92	0.98	0.98	0.98	0P00007061
0P00017YCD	0.94	-0.43	0.93	0.93	0.92		0.94	0.94	0.95	0P00017YCD
0P0000706A	0.96	-0.41	0.94	0.93	0.98	0.94		1.0	0.99	0P0000706A
0P00007069	0.96	-0.42	0.95	0.94	0.98	0.94	1.0		1.0	0P00007069
0P000071P8	0.97	-0.42	0.96	0.95	0.98	0.95	0.99	1.0		0P000071P8
	0P00012DD2	0P00018PVY	0P00007138	0P000077P2	0P00007061	0P00017YCD	0P0000706A	0P00007069	0P000071P8

Click cells to compare fundamentals

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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

0P00007069	+ 1.0	0P0000706A
0P000071P8	+ 1.0	0P00007069
0P000077P2	+ 0.99	0P00012DD2
0P000071P8	+ 0.99	0P0000706A
0P0000706A	+ 0.98	0P00007061
0P00007069	+ 0.98	0P00007061

High negative correlations

0P000077P2	- 0.63	0P00018PVY
0P00018PVY	- 0.59	0P00012DD2
0P00007061	- 0.53	0P00018PVY
0P00007138	- 0.52	0P00018PVY
0P00017YCD	- 0.43	0P00018PVY
0P000071P8	- 0.42	0P00018PVY

Risk-Adjusted Indicators

There is a big difference between RBC Fund performing well and RBC Select 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 RBC Select'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
0P00012DD2	0.56	0.08	0.00	0.34	0.40	(0.64)	1.17	(0.92)	3.02
0P00018PVY	0.60	(0.09)	0.00	(0.93)	0.00	0.00	1.06	(1.18)	3.31
0P00007138	0.72	0.04	(0.03)	0.23	0.91	(0.77)	1.74	(1.71)	5.12
0P000077P2	0.47	0.08	0.00	0.31	0.27	(0.52)	1.09	(0.89)	3.89
0P00007061	0.40	0.11	0.00	0.87	0.27	(0.45)	0.95	(0.68)	2.50
0P00017YCD	0.45	0.00	(0.12)	0.13	0.56	(0.51)	1.07	(1.04)	3.37
0P0000706A	0.27	0.04	(0.21)	0.37	0.13	(0.31)	0.69	(0.52)	1.58
0P00007069	0.33	0.04	(0.14)	0.36	0.23	(0.36)	0.83	(0.59)	1.99
0P000071P8	0.41	0.05	(0.08)	0.35	0.34	(0.48)	0.99	(0.83)	2.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in RBC Select 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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