The Arbitrage Correlations

Mutual Funds . USA . 
Fund . The Arbitrage Fund
ARBFX Fund  USD 13.01  0.02  0.15%   
The current 90-days correlation between The Arbitrage and The Merger Fund is 0.24 (i.e., Modest diversification). The correlation of The Arbitrage 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.

The Arbitrage Correlation With Market

Very weak diversification

The correlation between The Arbitrage Fund and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage Fund 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 The Arbitrage Fund. 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 census.

Moving together with The Mutual Fund

  1.0ARBNX The ArbitragePairCorr
  0.99ARBCX The ArbitragePairCorr
  1.0ARGAX The ArbitragePairCorr
  0.91AEDNX Arbitrage EventPairCorr
  0.89AEDFX Arbitrage EventPairCorr
  0.9AGEAX Arbitrage EventPairCorr
  0.82MERIX Merger FundPairCorr
  0.79MERFX Merger FundPairCorr
  0.77SMPIX Semiconductor UltrasectorPairCorr
  0.75SMPSX Semiconductor UltrasectorPairCorr
  0.72RSNRX Victory Global NaturalPairCorr
  0.72RSNYX Victory Global NaturalPairCorr
  0.81FIKGX Fidelity Advisor SemPairCorr
  0.65RMQAX Monthly RebalancePairCorr
  0.73RGNCX Victory Global NaturalPairCorr
  0.65RMQHX Monthly RebalancePairCorr
  0.69VTSAX Vanguard Total StockPairCorr
  0.61FSHOX Construction And HousingPairCorr
  0.7INDEX Sp 500 EqualPairCorr
  0.62THMAX Thrivent ModeratePairCorr
  0.64FXAIX Fidelity 500 IndexPairCorr
  0.67VGOSX Voya Large CapPairCorr
  0.7AGTHX Growth FundPairCorr
  0.69VTSMX Vanguard Total StockPairCorr

Related Correlations Analysis

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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   
GATEX
+ 0.94
CVSIX
DIAMX
+ 0.55
MERFX
GATEX
+ 0.48
MERFX
CVSIX
+ 0.46
MERFX
  
High negative correlations   
GATEX
- 0.7
HSGFX
HSGFX
- 0.52
CVSIX
HSGFX
- 0.21
MERFX
DIAMX
- 0.1
CVSIX
DIAMX
- 0.09
HSGFX
DIAMX
- 0.05
GATEX

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Arbitrage 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 The Arbitrage'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.

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