Pinnacle Sherman Correlations

APSHX Fund

USD 14.15 0.13 0.93%

The current 90-days correlation between Pinnacle Sherman Multi and HUMANA INC is -0.22 (i.e., Very good diversification). The correlation of Pinnacle Sherman 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.

Pinnacle Sherman Correlation With Market

Very poor diversification

The correlation between Pinnacle Sherman Multi Strateg and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pinnacle Sherman Multi Strateg 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 Pinnacle Sherman Multi Strategy. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Pinnacle Mutual Fund

1.0	IPSHX	Pinnacle Sherman Multi	Pair Corr
1.0	CPSHX	Pinnacle Sherman Multi	Pair Corr
0.89	PVFIX	Pinnacle Value	Pair Corr
0.63	PFN	Pimco Income Strategy	Pair Corr
0.67	XNKGX	Nuveen Georgia Quality	Pair Corr
0.82	XPPRX	Voya Prime Rate	Pair Corr
0.79	PCF	Putnam High Income	Pair Corr
0.94	CICVX	Calamos Vertible	Pair Corr
0.9	ARDEX	Amg River Road	Pair Corr
0.98	AMONX	Aqr Large Cap	Pair Corr
0.61	SHYIX	Guggenheim High Yield	Pair Corr
0.91	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.93	VIGAX	Vanguard Growth Index	Pair Corr
0.93	VFINX	Vanguard 500 Index	Pair Corr
0.84	CCLFX	Cliffwater Corporate	Pair Corr
0.94	FNILX	Fidelity Zero Large	Pair Corr
0.85	VTWAX	Vanguard Total World	Pair Corr
0.93	VFIAX	Vanguard 500 Index	Pair Corr
0.98	VMGRX	Vanguard Mid Cap	Pair Corr
0.95	PRDSX	T Rowe Price	Pair Corr
0.98	VNVAX	Vaughan Nelson Value	Pair Corr
0.9	MGDNX	Mainstay Moderate Growth	Pair Corr
0.92	VEIRX	Vanguard Equity Income	Pair Corr
0.94	FZROX	Fidelity Zero Total	Pair Corr

Moving against Pinnacle Mutual Fund

0.68	XNXJX	Nuveen New Jersey	Pair Corr
0.66	XNBHX	Neuberger Berman Int	Pair Corr
0.54	PAUPX	Pimco All Asset	Pair Corr
0.48	PAUIX	Pimco All Asset	Pair Corr
0.38	XDSMX	Dreyfus Strategic	Pair Corr
0.34	NXJ	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	144285AL7	AAEVX
444859BR2		0.0	0.3	-0.62	-0.59	-0.09	0.21	-0.34	0.08	-0.7	444859BR2
AQUI	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	0.3	0.0		-0.5	-0.45	-0.44	-0.02	0.08	-0.24	-0.39	BRRAY
MSTSX	-0.62	0.0	-0.5		0.72	0.4	0.03	-0.09	0.13	0.79	MSTSX
LBHIX	-0.59	0.0	-0.45	0.72		0.62	-0.21	0.17	-0.02	0.69	LBHIX
ABHYX	-0.09	0.0	-0.44	0.4	0.62		-0.01	-0.21	0.3	0.13	ABHYX
SCAXF	0.21	0.0	-0.02	0.03	-0.21	-0.01		-0.71	0.39	-0.3	SCAXF
VIASP	-0.34	0.0	0.08	-0.09	0.17	-0.21	-0.71		-0.52	0.3	VIASP
144285AL7	0.08	0.0	-0.24	0.13	-0.02	0.3	0.39	-0.52		-0.13	144285AL7
AAEVX	-0.7	0.0	-0.39	0.79	0.69	0.13	-0.3	0.3	-0.13		AAEVX
	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	144285AL7	AAEVX

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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

AAEVX	+ 0.79	MSTSX
LBHIX	+ 0.72	MSTSX
AAEVX	+ 0.69	LBHIX
ABHYX	+ 0.62	LBHIX
ABHYX	+ 0.4	MSTSX
144285AL7	+ 0.39	SCAXF

High negative correlations

VIASP	- 0.71	SCAXF
AAEVX	- 0.7	444859BR2
MSTSX	- 0.62	444859BR2
LBHIX	- 0.59	444859BR2
144285AL7	- 0.52	VIASP
MSTSX	- 0.5	BRRAY

Risk-Adjusted Indicators

There is a big difference between Pinnacle Mutual Fund performing well and Pinnacle Sherman 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 Pinnacle Sherman'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
444859BR2	1.32	0.04	0.00	0.04	0.00	0.00	5.93	(4.60)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.10)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.16	0.00	(0.17)	0.11	0.26	(0.23)	0.34	(0.33)	1.91
SCAXF	0.70	(0.40)	0.00	(1.01)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.14	0.04	(6.44)	1.01	(0.84)	2.28	(1.15)	7.18
144285AL7	0.36	(0.02)	0.00	4.40	0.00	0.00	0.96	(0.95)	2.51
AAEVX	0.51	0.06	(0.05)	(0.67)	0.56	(0.61)	1.07	(0.77)	3.24

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