Vanguard Canadian Correlations
| VSC Etf | CAD 24.09 0.04 0.17% |
The current 90-days correlation between Vanguard Canadian Short and iShares Canadian Universe is 0.81 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Vanguard Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Vanguard Canadian Short Term moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Vanguard Canadian Correlation With Market
Weak diversification
The correlation between Vanguard Canadian Short Term and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Canadian Short Term and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Vanguard 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 Vanguard 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 Vanguard 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 Vanguard Canadian Short Term to buy it.
Moving together with Vanguard Etf
| 0.94 | XSB | iShares Canadian Short | PairCorr |
| 0.98 | XSH | iShares Core Canadian | PairCorr |
| 0.98 | ZCS | BMO Short Corporate | PairCorr |
| 0.93 | VSB | Vanguard Canadian Short | PairCorr |
| 0.64 | ZST | BMO Ultra Short | PairCorr |
| 0.98 | CBO | iShares 1 5 | PairCorr |
| 0.97 | PSB | Invesco 1 5 | PairCorr |
| 0.64 | XFR | iShares Floating Rate | PairCorr |
| 0.73 | CLF | iShares 1 5 | PairCorr |
| 0.83 | ZFS | BMO Short Federal | PairCorr |
| 0.69 | HQU | BetaPro NASDAQ 100 | PairCorr |
| 0.66 | XIT | iShares SPTSX Capped | PairCorr |
| 0.67 | HSU | BetaPro SP 500 | PairCorr |
| 0.63 | FHQ | First Trust AlphaDEX | PairCorr |
| 0.67 | ZUQ | BMO MSCI USA | PairCorr |
| 0.68 | XQQ | iShares NASDAQ 100 | PairCorr |
| 0.68 | ZQQ | BMO NASDAQ 100 | PairCorr |
| 0.66 | HFU | BetaPro SPTSX Capped | PairCorr |
| 0.65 | VFV | Vanguard SP 500 | PairCorr |
| 0.65 | ZSP | BMO SP 500 | PairCorr |
Related Correlations Analysis
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Vanguard Canadian Constituents Risk-Adjusted Indicators
There is a big difference between Vanguard Etf performing well and Vanguard 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 Vanguard 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| XBB | 0.28 | (0.01) | (0.31) | 0.01 | 0.32 | 0.59 | 1.55 | |||
| XRB | 0.44 | (0.02) | (0.16) | 0.04 | 0.59 | 1.03 | 2.21 | |||
| XCB | 0.20 | 0.01 | (0.31) | 0.15 | 0.16 | 0.54 | 1.39 | |||
| XLB | 0.51 | (0.03) | (0.17) | 0.01 | 0.60 | 1.15 | 3.09 | |||
| XGB | 0.30 | (0.03) | (0.31) | (0.04) | 0.35 | 0.61 | 1.74 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Vanguard 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?
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