CI Galaxy Correlations
| CMCX-B Etf | 16.00 0.28 1.78% |
The current 90-days correlation between CI Galaxy Multi and Manulife Multifactor Mid is 0.42 (i.e., Very weak diversification). The correlation of CI Galaxy 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.
CI Galaxy Correlation With Market
Modest diversification
The correlation between CI Galaxy Multi Crypto and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Galaxy Multi Crypto and DJI in the same portfolio, assuming nothing else is changed.
CMCX-B |
The ability to find closely correlated positions to CI Galaxy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CI Galaxy 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 CI Galaxy - 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 CI Galaxy Multi Crypto to buy it.
Moving together with CMCX-B Etf
| 0.85 | XIU | iShares SPTSX 60 | PairCorr |
| 0.87 | XSP | iShares Core SP | PairCorr |
| 0.84 | XIC | iShares Core SPTSX | PairCorr |
| 0.84 | ZCN | BMO SPTSX Capped | PairCorr |
| 0.93 | ZSP | BMO SP 500 | PairCorr |
| 0.93 | VFV | Vanguard SP 500 | PairCorr |
| 0.94 | ZEB | BMO SPTSX Equal | PairCorr |
| 0.89 | HQU | BetaPro NASDAQ 100 | PairCorr |
| 0.93 | HBLK | Blockchain Technologies | PairCorr |
| 0.93 | TEC | TD Global Technology | PairCorr |
| 0.92 | ZNQ | BMO NASDAQ 100 | PairCorr |
| 0.97 | XIT | iShares SPTSX Capped | PairCorr |
| 0.76 | HTA | Harvest Tech Achievers | PairCorr |
| 0.91 | XQQ | iShares NASDAQ 100 | PairCorr |
| 0.91 | ZQQ | BMO NASDAQ 100 | PairCorr |
| 0.86 | TLF | Tech Leaders Income | PairCorr |
| 0.84 | TOCC | TD One Click | PairCorr |
| 0.83 | GDV | Global Dividend Growth | PairCorr |
| 0.74 | ZWA | BMO Covered Call | PairCorr |
| 0.81 | PFAA | Picton Mahoney Fortified | PairCorr |
| 0.89 | VMO | Vanguard Global Momentum | PairCorr |
| 0.86 | FTN | Financial 15 Split | PairCorr |
| 0.92 | CASH | GLOBAL X HIGH | PairCorr |
| 0.93 | VUN | Vanguard Total Market | PairCorr |
| 0.82 | EGIF | Exemplar Growth | PairCorr |
| 0.91 | FLSA | Fidelity LongShort | PairCorr |
| 0.84 | FHG | FT AlphaDEX Industrials | PairCorr |
| 0.74 | PYF-B | Purpose Fund Corp | PairCorr |
| 0.98 | BTCQ | 3iQ Bitcoin ETF | PairCorr |
| 0.98 | FBTC | Fidelity Advantage | PairCorr |
| 0.64 | ZSB | BMO Short Term | PairCorr |
| 0.88 | XESG | iShares ESG Aware | PairCorr |
| 0.89 | XCNS | iShares Core Conservative | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
CI Galaxy Constituents Risk-Adjusted Indicators
There is a big difference between CMCX-B Etf performing well and CI Galaxy 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 CI Galaxy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MUMC | 0.57 | 0.00 | (0.02) | 0.03 | 0.75 | 1.13 | 7.73 | |||
| MCSM | 0.58 | 0.02 | (0.01) | 0.10 | 0.87 | 1.17 | 4.36 | |||
| MULC | 0.48 | 0.03 | 0.02 | 0.10 | 0.57 | 1.16 | 4.27 | |||
| MCLC | 0.40 | 0.05 | 0.04 | 0.24 | 0.48 | 0.90 | 3.26 | |||
| INOC | 0.36 | (0.06) | 0.00 | (0.20) | 0.00 | 0.62 | 2.73 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in CI Galaxy 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?
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