Api Multi-asset Correlations

APIUX Fund

USD 8.71 0.01 0.11%

The current 90-days correlation between Api Multi Asset and Rmb Mendon Financial is 0.32 (i.e., Weak diversification). The correlation of Api Multi-asset 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.

Api Multi-asset Correlation With Market

Very poor diversification

The correlation between Api Multi Asset Income and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Api Multi Asset Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Api Multi Asset Income. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Api Mutual Fund

0.8	APGRX	Api Growth Fund	Pair Corr
0.85	APIBX	Api Short Term	Pair Corr
0.99	APIIX	Api Multi Asset	Pair Corr
0.98	AFFIX	Api Multi Asset	Pair Corr
0.98	AFFCX	Api Multi Asset	Pair Corr
0.8	AFGGX	Api Growth Fund	Pair Corr
0.87	PONAX	Pimco Income	Pair Corr
0.89	PONCX	Pimco Income	Pair Corr
0.8	PIPNX	Pimco Income	Pair Corr
0.8	PONRX	Pimco Income	Pair Corr
0.86	PONPX	Pimco Incme Fund	Pair Corr
0.86	PIINX	Pimco Income	Pair Corr
0.8	PIMIX	Pimco Income	Pair Corr
0.83	LBNDX	Lord Abbett Bond	Pair Corr
0.82	FSTAX	Fidelity Advisor Str	Pair Corr
0.91	FSRIX	Fidelity Advisor Str	Pair Corr
0.74	CII	Blackrock Enhanced	Pair Corr
0.78	ETV	Eaton Vance Tax	Pair Corr
0.85	CLM	Cornerstone Strategic Sell-off Trend	Pair Corr
0.84	CRF	Cornerstone Total Return	Pair Corr
0.89	USA	Liberty All Star	Pair Corr
0.85	NFJ	Virtus Dividend Interest	Pair Corr
0.9	PQNCX	Allianzgi Nfj Mid	Pair Corr
0.9	FHAPX	Fidelity Freedom Blend	Pair Corr
0.8	MXFRX	Great West Putnam	Pair Corr
0.91	DVRAX	Mfs Global Alternative	Pair Corr
0.73	AIBAX	Intermediate Bond	Pair Corr
0.81	TARZX	Third Avenue Real	Pair Corr
0.92	RBAIX	T Rowe Price	Pair Corr
0.91	TPHAX	Timothy Plan High	Pair Corr
0.81	CNEYX	Alger Concentrated Equity	Pair Corr
0.85	IRFIX	Cohen Steers Interna	Pair Corr
0.88	LZSMX	Lazard International	Pair Corr
0.81	TEOJX	Transamerica Emerging	Pair Corr

Moving against Api Mutual Fund

0.33	IIF	Morgan Stanley India	Pair Corr
0.6	IFN	India Closed	Pair Corr

Related Correlations Analysis

	FMVUX	DVFYX	FMFXX	XFINX	GCFSX	PFPNX	IAAEX	RMBLX
FMVUX		0.83	0.0	0.39	0.87	0.93	0.93	0.86	FMVUX
DVFYX	0.83		0.0	0.61	0.97	0.72	0.87	0.96	DVFYX
FMFXX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	FMFXX
XFINX	0.39	0.61	0.0		0.62	0.3	0.3	0.58	XFINX
GCFSX	0.87	0.97	0.0	0.62		0.79	0.87	0.98	GCFSX
PFPNX	0.93	0.72	0.0	0.3	0.79		0.87	0.78	PFPNX
IAAEX	0.93	0.87	0.0	0.3	0.87	0.87		0.86	IAAEX
RMBLX	0.86	0.96	0.0	0.58	0.98	0.78	0.86		RMBLX
	FMVUX	DVFYX	FMFXX	XFINX	GCFSX	PFPNX	IAAEX	RMBLX

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

RMBLX	+ 0.98	GCFSX
GCFSX	+ 0.97	DVFYX
RMBLX	+ 0.96	DVFYX
PFPNX	+ 0.93	FMVUX
IAAEX	+ 0.93	FMVUX
GCFSX	+ 0.87	FMVUX

High negative correlations

RMBLX	- 0.0	FMFXX
IAAEX	- 0.0	FMFXX
PFPNX	- 0.0	FMFXX
GCFSX	- 0.0	FMFXX
XFINX	- 0.0	FMFXX
FMFXX	- 0.0	DVFYX

Risk-Adjusted Indicators

There is a big difference between Api Mutual Fund performing well and Api Multi-asset Mutual 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 Api Multi-asset'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
FMVUX	0.75	0.15	0.18	0.24	0.54	(0.89)	1.89	(1.26)	7.72
DVFYX	0.65	0.09	0.09	0.17	0.68	(0.69)	1.62	(1.26)	4.16
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XFINX	0.15	(0.01)	(0.18)	(0.01)	0.26	(0.16)	0.36	(0.43)	1.58
GCFSX	0.49	0.11	0.12	0.22	0.48	(0.58)	1.15	(1.04)	3.27
PFPNX	0.09	0.01	(0.34)	0.16	0.00	(0.13)	0.21	(0.21)	0.72
IAAEX	0.94	0.30	0.39	0.38	0.09	(1.25)	1.85	(1.17)	19.44
RMBLX	1.01	0.25	0.21	0.34	0.77	(1.21)	3.09	(1.19)	6.79

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