The Arbitrage Correlations

ARCFX Fund

USD 9.80 0.01 0.10%

The current 90-days correlation between Arbitrage Credit and The Arbitrage Fund is -0.12 (i.e., Good 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

Good diversification

The correlation between The Arbitrage Credit and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage Credit 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 Credit. 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

0.98	ACFIX	Arbitrage Credit	Pair Corr
0.99	AGCAX	Arbitrage Credit	Pair Corr
0.9	JSORX	Jpmorgan Strategic Income	Pair Corr
0.9	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.9	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.91	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.91	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.79	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.81	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.81	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.8	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.8	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.8	LETRX	Voya Russia Fund	Pair Corr
0.82	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.62	SMPSX	Semiconductor Ultrasector	Pair Corr
0.8	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.79	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
0.75	DPG	Duff And Phelps	Pair Corr
0.82	AGTHX	Growth Fund	Pair Corr
0.8	VTSAX	Vanguard Total Stock	Pair Corr
0.85	RQECX	Resq Dynamic Allocation	Pair Corr
0.76	VIGAX	Vanguard Growth Index	Pair Corr
0.77	THMAX	Thrivent Moderate	Pair Corr
0.69	VWEHX	Vanguard High Yield	Pair Corr
0.83	LLPFX	Longleaf Partners	Pair Corr
0.79	FXAIX	Fidelity 500 Index	Pair Corr
0.74	VWENX	Vanguard Wellington	Pair Corr

Moving against THE Mutual Fund

0.49

PMZCX

Pimco Mortgage Oppor

Pair Corr

Related Correlations Analysis

	ARBNX	ARBFX	ARBCX	ARCFX	ARGAX	AEDNX	AEDFX	AGEAX
ARBNX		1.0	0.99	0.52	1.0	0.9	0.89	0.89	ARBNX
ARBFX	1.0		0.99	0.5	1.0	0.92	0.9	0.9	ARBFX
ARBCX	0.99	0.99		0.43	0.99	0.94	0.93	0.93	ARBCX
ARCFX	0.52	0.5	0.43		0.5	0.22	0.18	0.19	ARCFX
ARGAX	1.0	1.0	0.99	0.5		0.91	0.9	0.9	ARGAX
AEDNX	0.9	0.92	0.94	0.22	0.91		1.0	1.0	AEDNX
AEDFX	0.89	0.9	0.93	0.18	0.9	1.0		1.0	AEDFX
AGEAX	0.89	0.9	0.93	0.19	0.9	1.0	1.0		AGEAX
	ARBNX	ARBFX	ARBCX	ARCFX	ARGAX	AEDNX	AEDFX	AGEAX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ARBNX	0.16	(0.02)	(0.49)	(0.01)	0.19	(0.19)	0.30	(0.37)	1.32
ARBFX	0.15	(0.02)	(0.49)	(0.03)	0.19	(0.19)	0.31	(0.31)	1.38
ARBCX	0.16	(0.02)	(0.50)	(0.04)	0.20	(0.20)	0.25	(0.34)	1.34
ARCFX	0.05	0.01	(1.04)	(0.52)	0.00	(0.16)	0.10	(0.10)	0.51
ARGAX	0.16	(0.02)	(0.50)	(0.02)	0.19	(0.20)	0.31	(0.31)	1.38
AEDNX	0.16	(0.03)	0.00	(0.09)	0.00	0.00	0.33	(0.42)	1.49
AEDFX	0.15	(0.03)	0.00	(0.11)	0.00	0.00	0.34	(0.34)	1.52
AGEAX	0.15	(0.03)	0.00	(0.11)	0.00	0.00	0.26	(0.34)	1.52

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