Alpine Ultra Correlations

ATOIX Fund

USD 10.03 0.01 0.1%

The current 90-days correlation between Alpine Ultra Short and Aberdeen Multi Cap Equity is 0.04 (i.e., Significant 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

Very poor diversification

The correlation between Alpine Ultra Short and DJI is 0.8 (i.e., Very 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 signals in gross domestic product.

Moving together with Alpine Mutual Fund

0.93	GEGAX	Aberdeen Emerging Markets	Pair Corr
0.94	GEGCX	Aberdeen Emerging Markets	Pair Corr
0.91	GEMRX	Aberdeen Emerging Markets	Pair Corr
0.94	GWLIX	Aberdeen Gbl Eq	Pair Corr
0.94	GWLRX	Aberdeen Gbl Eq	Pair Corr
0.85	STK	Columbia Seligman Premium	Pair Corr
0.89	CGFIX	Aberdeen Global Fixed	Pair Corr
0.95	AAHMX	Aberdeen Short Duration	Pair Corr
0.93	ASEMX	Abrdn Em Sma	Pair Corr
0.92	ABEMX	Aberdeen Emerging Markts Downward Rally	Pair Corr
0.76	ABNIX	Aberdeen Global Small	Pair Corr
0.91	ATOAX	Alpine Ultra Short	Pair Corr
0.92	ATOBX	Aberdeen Ultra Short	Pair Corr
0.92	ADAVX	Alpine Dynamic Dividend	Pair Corr
0.9	ADVDX	Alpine Dynamic Dividend	Pair Corr
0.94	GLLAX	Aberdeen Gbl Eq	Pair Corr
0.93	GLLSX	Aberdeen Global Equty	Pair Corr
0.92	AEMSX	Aberden Emerng Mrkts Downward Rally	Pair Corr
0.92	BJBHX	Aberdeen Global High	Pair Corr
0.89	JHYIX	Aberdeen Global High	Pair Corr
0.82	GNSRX	Aberdeen Small Cap	Pair Corr
0.86	AGCIX	Aberdeen Global Unco	Pair Corr
0.94	AHYMX	Alpine High Yield	Pair Corr
0.91	AIAFX	Alpine Global Infras	Pair Corr
0.88	AIAGX	Alpine Realty Income	Pair Corr
0.93	AIFRX	Alpine Global Infras	Pair Corr
0.87	AIGYX	Alpine Realty Income	Pair Corr
0.83	GSCIX	Aberdeen Small Cap	Pair Corr
0.82	GSXAX	Aberdeen Small Cap	Pair Corr
0.82	GSXCX	Aberdeen Small Cap	Pair Corr
0.86	GSXIX	Aberdeen Small Cap	Pair Corr
0.88	CUGAX	Aberdeen Global Unco	Pair Corr
0.98	VMLTX	Vanguard Limited Term	Pair Corr
0.98	VMLUX	Vanguard Limited Term	Pair Corr
0.99	VWSTX	Vanguard Short Term	Pair Corr

Moving against Alpine Mutual Fund

0.84	GGLIX	Aberdeen Multi Cap	Pair Corr
0.57	GXXAX	Aberdeen Equity A	Pair Corr

Related Correlations Analysis

	GEGAX	GEGCX	GEMRX	GWLIX	GWLRX	STK	CGFIX	GXXAX	GXXIX	GGLIX
GEGAX		0.98	0.95	0.99	0.99	0.92	0.93	-0.5	-0.05	-0.82	GEGAX
GEGCX	0.98		0.97	1.0	1.0	0.92	0.93	-0.49	0.02	-0.78	GEGCX
GEMRX	0.95	0.97		0.97	0.97	0.91	0.89	-0.41	0.18	-0.8	GEMRX
GWLIX	0.99	1.0	0.97		1.0	0.91	0.94	-0.54	-0.05	-0.82	GWLIX
GWLRX	0.99	1.0	0.97	1.0		0.91	0.94	-0.54	-0.04	-0.82	GWLRX
STK	0.92	0.92	0.91	0.91	0.91		0.84	-0.27	0.18	-0.62	STK
CGFIX	0.93	0.93	0.89	0.94	0.94	0.84		-0.59	-0.13	-0.8	CGFIX
GXXAX	-0.5	-0.49	-0.41	-0.54	-0.54	-0.27	-0.59		0.63	0.7	GXXAX
GXXIX	-0.05	0.02	0.18	-0.05	-0.04	0.18	-0.13	0.63		0.26	GXXIX
GGLIX	-0.82	-0.78	-0.8	-0.82	-0.82	-0.62	-0.8	0.7	0.26		GGLIX
	GEGAX	GEGCX	GEMRX	GWLIX	GWLRX	STK	CGFIX	GXXAX	GXXIX	GGLIX

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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

GWLIX	+ 1.0	GEGCX
GWLRX	+ 1.0	GEGCX
GWLRX	+ 1.0	GWLIX
GWLIX	+ 0.99	GEGAX
GWLRX	+ 0.99	GEGAX
GEGCX	+ 0.98	GEGAX

High negative correlations

GGLIX	- 0.82	GWLRX
GGLIX	- 0.82	GWLIX
GGLIX	- 0.82	GEGAX
GGLIX	- 0.8	CGFIX
GGLIX	- 0.8	GEMRX
GGLIX	- 0.78	GEGCX

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
GEGAX	0.68	0.23	0.26	(5.56)	0.38	(0.81)	1.79	(1.04)	4.11
GEGCX	0.75	0.11	0.08	0.18	1.02	(0.84)	1.81	(1.14)	4.10
GEMRX	0.85	0.20	0.15	0.28	0.93	(1.02)	1.86	(1.10)	7.69
GWLIX	0.87	0.23	0.15	0.31	1.25	(0.94)	2.31	(1.38)	4.25
GWLRX	0.87	0.23	0.14	0.30	1.30	(0.94)	2.31	(1.34)	4.27
STK	1.09	0.19	0.13	0.22	1.16	(1.17)	2.40	(2.20)	7.38
CGFIX	0.10	0.01	(0.12)	0.50	0.00	(0.15)	0.23	(0.12)	0.93
GXXAX	0.58	(0.01)	0.00	0.11	0.00	0.00	1.06	(1.48)	3.70
GXXIX	0.60	(0.05)	0.00	(0.02)	0.00	0.00	1.08	(1.47)	5.21
GGLIX	0.57	(0.12)	0.00	(0.11)	0.00	0.00	0.88	(1.48)	3.59

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