Alpine Ultra Correlations

ATOAX Fund

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The current 90-days correlation between Alpine Ultra Short and Artisan Small Cap is -0.07 (i.e., Good diversification). The correlation of Alpine Ultra 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.

Alpine Ultra Correlation With Market

Poor diversification

The correlation between Alpine Ultra Short and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpine Ultra Short 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 Alpine Ultra Short. 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 Alpine Mutual Fund

0.97	VMLTX	Vanguard Limited Term	Pair Corr
0.98	VMLUX	Vanguard Limited Term	Pair Corr
0.98	VWSTX	Vanguard Short Term	Pair Corr
0.98	VWSUX	Vanguard Short Term	Pair Corr
0.97	GDUSX	Goldman Sachs Short	Pair Corr
0.98	GANPX	Goldman Sachs Short	Pair Corr
0.91	SNDPX	Diversified Municipal	Pair Corr
0.92	AIDYX	Diversified Municipal	Pair Corr
0.92	AIDZX	Diversified Municipal	Pair Corr
0.73	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.77	UOPIX	Ultra Nasdaq 100	Pair Corr
0.71	RYCCX	Nasdaq 100 2x	Pair Corr
0.73	BIPIX	Biotechnology Ultrasector	Pair Corr
0.74	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.82	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.84	BA	Boeing Earnings Call Tomorrow	Pair Corr
0.79	WMT	Walmart Common Stock Sell-off Trend	Pair Corr

Moving against Alpine Mutual Fund

0.53	INPSX	Internet Ultrasector	Pair Corr
0.52	INPIX	Internet Ultrasector	Pair Corr
0.51	HPQ	HP Inc	Pair Corr
0.44	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.38	IBM	International Business Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PINCX	NRIIX	NRICX	NRIAX	FPF	MTRAX	MTINX	SIYYX	ABCVX	ARTSX
PINCX		0.79	0.79	0.79	0.5	0.83	0.83	0.8	0.76	0.8	PINCX
NRIIX	0.79		1.0	1.0	0.78	0.89	0.89	0.89	0.92	0.85	NRIIX
NRICX	0.79	1.0		1.0	0.81	0.88	0.88	0.88	0.92	0.84	NRICX
NRIAX	0.79	1.0	1.0		0.8	0.89	0.89	0.89	0.92	0.85	NRIAX
FPF	0.5	0.78	0.81	0.8		0.69	0.7	0.72	0.7	0.61	FPF
MTRAX	0.83	0.89	0.88	0.89	0.69		1.0	0.91	0.93	0.94	MTRAX
MTINX	0.83	0.89	0.88	0.89	0.7	1.0		0.91	0.93	0.94	MTINX
SIYYX	0.8	0.89	0.88	0.89	0.72	0.91	0.91		0.8	0.91	SIYYX
ABCVX	0.76	0.92	0.92	0.92	0.7	0.93	0.93	0.8		0.87	ABCVX
ARTSX	0.8	0.85	0.84	0.85	0.61	0.94	0.94	0.91	0.87		ARTSX
	PINCX	NRIIX	NRICX	NRIAX	FPF	MTRAX	MTINX	SIYYX	ABCVX	ARTSX

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Risk-Adjusted Indicators

There is a big difference between Alpine Mutual Fund performing well and Alpine Ultra 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 Alpine Ultra'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
PINCX	0.14	(0.01)	(0.25)	(0.08)	0.17	(0.24)	0.39	(0.39)	0.79
NRIIX	0.21	0.03	(0.10)	0.24	0.15	(0.23)	0.41	(0.44)	1.22
NRICX	0.21	0.02	(0.11)	0.17	0.22	(0.22)	0.41	(0.45)	1.12
NRIAX	0.21	0.02	(0.11)	0.20	0.15	(0.23)	0.41	(0.45)	1.21
FPF	0.28	0.00	(0.11)	0.09	0.37	(0.28)	0.60	(0.70)	1.99
MTRAX	0.37	(0.01)	(0.07)	0.06	0.46	(0.39)	0.75	(0.78)	2.45
MTINX	0.37	(0.01)	(0.07)	0.06	0.47	(0.39)	0.79	(0.74)	2.49
SIYYX	0.15	0.02	(0.18)	0.30	0.00	(0.32)	0.57	(0.19)	1.34
ABCVX	0.52	0.01	(0.01)	0.09	0.65	(0.52)	1.00	(1.18)	3.27
ARTSX	1.14	0.17	0.16	0.20	0.90	(1.38)	2.12	(1.92)	13.44

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