Advent Claymore Correlations

AVK Fund

USD 12.21 0.08 0.66%

The current 90-days correlation between Advent Claymore Conv and Nuveen Global High is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Advent Claymore moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advent Claymore Convertible moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Advent Claymore Correlation With Market

Modest diversification

The correlation between Advent Claymore Convertible and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible 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 Advent Claymore Convertible. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Advent Fund

0.68	BXSL	Blackstone Secured	Pair Corr
0.67	APWEX	World Energy	Pair Corr
0.72	DFEOX	Us E Equity	Pair Corr
0.8	LFRIX	Floating Rate	Pair Corr
0.8	LGANX	Loomis Sayles Limited	Pair Corr
0.76	LALDX	Lord Abbett Short	Pair Corr
0.61	JRODX	J Hancock Ii	Pair Corr
0.72	SSAGX	Virtus Seix Government	Pair Corr
0.61	LTMIX	Thornburg Limited Term	Pair Corr

Related Correlations Analysis

	JSD	JGH	NSL	BGB	TBLD	WDI	GBAB	RLTY	BWG	EHI
JSD		-0.35	0.81	-0.38	0.27	0.13	0.19	-0.2	-0.25	0.18	JSD
JGH	-0.35		0.05	0.82	0.0	0.43	-0.15	0.07	0.37	0.69	JGH
NSL	0.81	0.05		0.05	-0.07	0.0	-0.21	-0.5	-0.42	0.42	NSL
BGB	-0.38	0.82	0.05		-0.19	0.2	-0.35	-0.13	0.17	0.65	BGB
TBLD	0.27	0.0	-0.07	-0.19		0.74	0.86	0.76	0.66	0.35	TBLD
WDI	0.13	0.43	0.0	0.2	0.74		0.63	0.61	0.77	0.6	WDI
GBAB	0.19	-0.15	-0.21	-0.35	0.86	0.63		0.77	0.59	0.08	GBAB
RLTY	-0.2	0.07	-0.5	-0.13	0.76	0.61	0.77		0.81	0.1	RLTY
BWG	-0.25	0.37	-0.42	0.17	0.66	0.77	0.59	0.81		0.36	BWG
EHI	0.18	0.69	0.42	0.65	0.35	0.6	0.08	0.1	0.36		EHI
	JSD	JGH	NSL	BGB	TBLD	WDI	GBAB	RLTY	BWG	EHI

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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

GBAB	+ 0.86	TBLD
BGB	+ 0.82	JGH
NSL	+ 0.81	JSD
BWG	+ 0.81	RLTY
BWG	+ 0.77	WDI
RLTY	+ 0.77	GBAB

High negative correlations

RLTY	- 0.5	NSL
BWG	- 0.42	NSL
BGB	- 0.38	JSD
GBAB	- 0.35	BGB
JGH	- 0.35	JSD
BWG	- 0.25	JSD

Risk-Adjusted Indicators

There is a big difference between Advent Fund performing well and Advent Claymore 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 Advent Claymore'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
JSD	0.38	(0.01)	(0.19)	(0.58)	0.47	(0.45)	0.71	(0.95)	2.02
JGH	0.41	0.05	(0.04)	0.28	0.46	(0.44)	0.79	(0.86)	3.20
NSL	0.45	0.01	(0.12)	0.47	0.49	(0.56)	0.90	(1.09)	2.24
BGB	0.43	0.03	(0.07)	0.31	0.52	(0.45)	0.82	(0.89)	3.11
TBLD	0.53	(0.03)	0.00	(0.06)	0.00	0.00	1.03	(1.22)	3.07
WDI	0.53	0.00	(0.10)	0.06	0.78	(0.53)	0.89	(1.53)	3.40
GBAB	0.55	(0.07)	0.00	(0.86)	0.00	0.00	0.90	(1.33)	3.40
RLTY	1.05	(0.13)	0.00	(0.11)	0.00	0.00	1.88	(2.16)	5.84
BWG	0.63	(0.04)	0.00	(0.05)	0.00	0.00	1.10	(1.32)	3.62
EHI	0.55	0.02	(0.06)	0.14	0.65	(0.58)	1.23	(1.22)	2.90

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