Russell Investments Correlations

0P0000YW39

16.68 0.01 0.06%

The current 90-days correlation between Russell Investments and Fidelity Tactical High is 0.23 (i.e., Modest diversification). The correlation of Russell Investments 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Russell Investments Correlation With Market

Significant diversification

The correlation between Russell Investments Global and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Russell Investments Global and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Russell Fund

0.86	0P0000706A	RBC Select Balanced	Pair Corr
0.86	0P00007069	RBC Portefeuille	Pair Corr
0.77	0P0000IUYO	Edgepoint Global Por	Pair Corr
0.83	0P0001FAU8	TD Comfort Balanced	Pair Corr
0.86	0P00012UCU	RBC Global Equity	Pair Corr

Related Correlations Analysis

	FTHI	BLB-UN	HIG	0P000070HA	CIG18006	0P00007174	0P000071W8	MMF4606	SSF-UN
FTHI		0.63	-0.85	0.96	0.97	-0.6	0.97	0.65	0.89	FTHI
BLB-UN	0.63		-0.75	0.64	0.66	-0.63	0.73	0.37	0.7	BLB-UN
HIG	-0.85	-0.75		-0.87	-0.86	0.67	-0.85	-0.39	-0.88	HIG
0P000070HA	0.96	0.64	-0.87		0.98	-0.61	0.95	0.66	0.89	0P000070HA
CIG18006	0.97	0.66	-0.86	0.98		-0.61	0.97	0.69	0.88	CIG18006
0P00007174	-0.6	-0.63	0.67	-0.61	-0.61		-0.62	-0.22	-0.63	0P00007174
0P000071W8	0.97	0.73	-0.85	0.95	0.97	-0.62		0.7	0.88	0P000071W8
MMF4606	0.65	0.37	-0.39	0.66	0.69	-0.22	0.7		0.54	MMF4606
SSF-UN	0.89	0.7	-0.88	0.89	0.88	-0.63	0.88	0.54		SSF-UN
	FTHI	BLB-UN	HIG	0P000070HA	CIG18006	0P00007174	0P000071W8	MMF4606	SSF-UN

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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

CIG18006	+ 0.98	0P000070HA
CIG18006	+ 0.97	FTHI
0P000071W8	+ 0.97	FTHI
0P000071W8	+ 0.97	CIG18006
0P000070HA	+ 0.96	FTHI
0P000071W8	+ 0.95	0P000070HA

High negative correlations

SSF-UN	- 0.88	HIG
0P000070HA	- 0.87	HIG
CIG18006	- 0.86	HIG
0P000071W8	- 0.85	HIG
HIG	- 0.85	FTHI
HIG	- 0.75	BLB-UN

Risk-Adjusted Indicators

There is a big difference between Russell Fund performing well and Russell Investments 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 Russell Investments' 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
FTHI	0.42	0.11	0.04	0.51	0.00	(0.54)	1.11	(0.60)	3.05
BLB-UN	0.48	0.02	(0.03)	0.45	1.14	(1.37)	2.08	(0.96)	11.33
HIG	0.67	(0.16)	0.00	(0.53)	0.00	0.00	1.22	(1.92)	4.30
0P000070HA	1.01	0.23	0.11	0.85	1.10	(1.17)	2.77	(2.23)	5.87
CIG18006	1.01	0.21	0.11	0.54	1.10	(1.17)	2.77	(2.23)	5.87
0P00007174	0.26	(0.01)	0.00	(0.73)	0.00	0.00	0.60	(0.59)	1.37
0P000071W8	0.53	0.12	0.06	0.40	0.44	(0.58)	1.20	(1.15)	4.46
MMF4606	0.44	(0.01)	(0.17)	0.10	0.52	(0.45)	0.87	(0.97)	2.55
SSF-UN	0.34	0.03	(0.18)	1.52	0.31	(0.48)	0.73	(0.71)	1.86

Russell Investments Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Russell Investments fund to make a market-neutral strategy. Peer analysis of Russell Investments could also be used in its relative valuation, which is a method of valuing Russell Investments by comparing valuation metrics with similar companies.

Fidelity Tactical High Bloom Select Income Global Healthcare Income CI Global Alpha CI Global Alpha Mawer Canadien obligations TD Index Fund Manulife Global Equity Symphony Floating Rate American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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