Guardian Directed Correlations

GDPY Etf

CAD 21.60 0.15 0.69%

The current 90-days correlation between Guardian Directed Premium and Guardian i3 Global is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Guardian Directed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Guardian Directed Premium moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Guardian Directed Correlation With Market

Very weak diversification

The correlation between Guardian Directed Premium and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardian Directed Premium and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guardian Etf

0.95	XEQT	iShares Core Equity	Pair Corr
0.95	XAW	iShares Core MSCI	Pair Corr
0.95	DXG	Dynamic Active Global	Pair Corr
0.95	VXC	Vanguard FTSE Global	Pair Corr
0.95	XWD	iShares MSCI World	Pair Corr
0.95	VEQT	Vanguard All Equity	Pair Corr
0.94	XMW	iShares MSCI Min	Pair Corr
0.93	VVL	Vanguard Global Value	Pair Corr
0.93	XIU	iShares SPTSX 60	Pair Corr
0.93	XSP	iShares Core SP	Pair Corr
0.93	XIC	iShares Core SPTSX	Pair Corr
0.93	ZCN	BMO SPTSX Capped	Pair Corr
0.95	ZSP	BMO SP 500	Pair Corr
0.95	VFV	Vanguard SP 500	Pair Corr
0.91	ZEB	BMO SPTSX Equal	Pair Corr

Related Correlations Analysis

	GIQG	CGRA	FSB	ZUAG-U	XHB	EDGF	SOLR	0P0000OXA6	ECO	TKU
GIQG		0.41	-0.17	-0.61	0.87	0.21	-0.66	0.91	-0.54	-0.66	GIQG
CGRA	0.41		0.11	-0.03	0.52	0.2	-0.17	0.41	-0.2	-0.1	CGRA
FSB	-0.17	0.11		0.65	0.06	0.13	0.13	-0.34	0.23	0.38	FSB
ZUAG-U	-0.61	-0.03	0.65		-0.43	0.0	0.51	-0.79	0.6	0.73	ZUAG-U
XHB	0.87	0.52	0.06	-0.43		0.15	-0.64	0.81	-0.59	-0.6	XHB
EDGF	0.21	0.2	0.13	0.0	0.15		0.12	0.13	0.1	0.16	EDGF
SOLR	-0.66	-0.17	0.13	0.51	-0.64	0.12		-0.68	0.49	0.6	SOLR
0P0000OXA6	0.91	0.41	-0.34	-0.79	0.81	0.13	-0.68		-0.66	-0.74	0P0000OXA6
ECO	-0.54	-0.2	0.23	0.6	-0.59	0.1	0.49	-0.66		0.61	ECO
TKU	-0.66	-0.1	0.38	0.73	-0.6	0.16	0.6	-0.74	0.61		TKU
	GIQG	CGRA	FSB	ZUAG-U	XHB	EDGF	SOLR	0P0000OXA6	ECO	TKU

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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

0P0000OXA6	+ 0.91	GIQG
XHB	+ 0.87	GIQG
0P0000OXA6	+ 0.81	XHB
TKU	+ 0.73	ZUAG-U
ZUAG-U	+ 0.65	FSB
TKU	+ 0.61	ECO

High negative correlations

0P0000OXA6	- 0.79	ZUAG-U
TKU	- 0.74	0P0000OXA6
0P0000OXA6	- 0.68	SOLR
ECO	- 0.66	0P0000OXA6
TKU	- 0.66	GIQG
SOLR	- 0.66	GIQG

Guardian Directed Constituents Risk-Adjusted Indicators

There is a big difference between Guardian Etf performing well and Guardian Directed 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 Guardian Directed'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
GIQG	0.64	0.17	0.09	0.63	0.62	(0.74)	1.50	(1.12)	5.46
CGRA	0.26	0.04	(0.06)	0.75	0.22	(0.99)	0.58	(0.62)	4.44
FSB	0.11	(0.02)	0.00	(0.25)	0.00	0.00	0.21	(0.21)	0.93
ZUAG-U	0.14	(0.04)	0.00	9.80	0.00	0.00	0.29	(0.46)	2.35
XHB	0.21	0.02	(0.29)	0.22	0.00	(0.29)	0.51	(0.31)	1.42
EDGF	0.93	(0.01)	(0.06)	0.00	1.27	(1.19)	2.26	(2.49)	6.36
SOLR	8.26	0.42	0.01	(0.11)	10.17	(27.50)	25.00	(25.00)	58.33
0P0000OXA6	0.48	0.20	0.18	1.97	0.11	(0.57)	1.15	(0.80)	4.34
ECO	1.62	0.13	(0.03)	(0.06)	1.93	(1.90)	3.84	(3.00)	11.63
TKU	5.56	(0.03)	0.00	(0.04)	9.66	(45.83)	33.33	(33.33)	83.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guardian Directed 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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