BMO ESG Correlations

ESGB Etf

CAD 28.05 0.11 0.39%

The current 90-days correlation between BMO ESG Corporate and iShares SPTSX 60 is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BMO ESG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO ESG Corporate moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BMO ESG Correlation With Market

Weak diversification

The correlation between BMO ESG Corporate and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BMO ESG Corporate and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BMO Etf

0.62	XSP	iShares Core SP	Pair Corr
0.84	ZAG	BMO Aggregate Bond	Pair Corr
0.84	XBB	iShares Canadian Universe	Pair Corr
0.62	TCLB	TD Canadian Long	Pair Corr
0.62	ZEB	BMO SPTSX Equal	Pair Corr
0.62	ETC	Evolve Cryptocurrencies	Pair Corr
0.65	BITC	Ninepoint Bitcoin ETF	Pair Corr
0.73	FETH	Fidelity Advantage Ether	Pair Corr

Related Correlations Analysis

	XIU	XSP	XIC	ZAG	XBB	ZCN	ZSP	TCLB	VFV	ZEB
XIU		0.97	1.0	0.22	0.23	1.0	0.97	-0.1	0.97	0.98	XIU
XSP	0.97		0.96	0.27	0.28	0.96	0.98	-0.05	0.98	0.95	XSP
XIC	1.0	0.96		0.2	0.21	1.0	0.97	-0.13	0.97	0.98	XIC
ZAG	0.22	0.27	0.2		0.99	0.2	0.22	0.93	0.23	0.27	ZAG
XBB	0.23	0.28	0.21	0.99		0.21	0.23	0.92	0.23	0.28	XBB
ZCN	1.0	0.96	1.0	0.2	0.21		0.97	-0.13	0.97	0.98	ZCN
ZSP	0.97	0.98	0.97	0.22	0.23	0.97		-0.11	1.0	0.97	ZSP
TCLB	-0.1	-0.05	-0.13	0.93	0.92	-0.13	-0.11		-0.11	-0.06	TCLB
VFV	0.97	0.98	0.97	0.23	0.23	0.97	1.0	-0.11		0.97	VFV
ZEB	0.98	0.95	0.98	0.27	0.28	0.98	0.97	-0.06	0.97		ZEB
	XIU	XSP	XIC	ZAG	XBB	ZCN	ZSP	TCLB	VFV	ZEB

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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

XIC	+ 1.0	XIU
ZCN	+ 1.0	XIU
ZCN	+ 1.0	XIC
VFV	+ 1.0	ZSP
XBB	+ 0.99	ZAG
ZEB	+ 0.98	XIU

High negative correlations

TCLB	- 0.13	ZCN
TCLB	- 0.13	XIC
VFV	- 0.11	TCLB
TCLB	- 0.11	ZSP
TCLB	- 0.1	XIU
ZEB	- 0.06	TCLB

BMO ESG Constituents Risk-Adjusted Indicators

There is a big difference between BMO Etf performing well and BMO ESG 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 BMO ESG'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
XIU	0.36	0.09	0.05	0.39	0.08	(0.42)	0.81	(0.46)	2.51
XSP	0.45	0.08	0.03	0.30	0.45	(0.46)	1.03	(0.98)	3.86
XIC	0.36	0.09	0.05	0.41	0.14	(0.41)	0.92	(0.53)	2.50
ZAG	0.28	(0.02)	(0.27)	(0.03)	0.31	(0.31)	0.71	(0.51)	1.58
XBB	0.28	(0.02)	(0.26)	(0.02)	0.32	(0.30)	0.59	(0.53)	1.55
ZCN	0.35	0.09	0.05	0.43	0.13	(0.42)	0.82	(0.54)	2.36
ZSP	0.47	0.16	0.15	0.64	0.25	(0.53)	1.17	(0.80)	4.38
TCLB	0.53	(0.06)	0.00	(0.19)	0.00	0.00	0.90	(1.07)	2.49
VFV	0.45	0.16	0.15	0.60	0.21	(0.51)	1.17	(0.81)	4.34
ZEB	0.33	0.11	0.08	0.83	0.00	(0.39)	0.80	(0.46)	2.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in BMO ESG 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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