Bright Rock Correlations

BQLCX Fund

USD 22.40 0.11 0.49%

The current 90-days correlation between Bright Rock Quality and Commodities Strategy Fund is -0.02 (i.e., Good diversification). The correlation of Bright Rock 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.

Bright Rock Correlation With Market

Modest diversification

The correlation between Bright Rock Quality and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bright Rock Quality 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 Bright Rock Quality. 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 main economic indicators.

Moving together with Bright Mutual Fund

0.97	BQMGX	Bright Rock Mid	Pair Corr
0.65	SMPSX	Semiconductor Ultrasector	Pair Corr
0.76	RSNYX	Victory Global Natural	Pair Corr
0.76	RSNRX	Victory Global Natural	Pair Corr
0.91	RMQAX	Monthly Rebalance	Pair Corr
0.91	RMQHX	Monthly Rebalance	Pair Corr
0.81	LIFLX	Lord Abbett Focused	Pair Corr
0.75	PWDIX	Power Dividend Index	Pair Corr
0.63	IPSSX	Voya Index Plus	Pair Corr

Moving against Bright Mutual Fund

0.73	APHPX	Artisan Global Uncon	Pair Corr
0.61	RCRIX	Riverpark Floating Rate	Pair Corr
0.6	BXSL	Blackstone Secured Sell-off Trend	Pair Corr
0.6	PYFRX	Payden Floating Rate	Pair Corr
0.58	LUBYX	Lord Abbett Ultra	Pair Corr
0.38	BXITX	Barings Global Credit	Pair Corr
0.66	DNAIX	Dunham Appreciation	Pair Corr
0.54	SCIOX	Columbia Seligman	Pair Corr
0.44	FOCPX	Fidelity Otc Portfolio	Pair Corr
0.35	RDBRX	Short Duration Bond	Pair Corr

Related Correlations Analysis

	RYMBX	UOPSX	LIOTX	LMUSX	TIMXX	PRNHX	BIGTX	LAVVX
RYMBX		0.07	-0.19	-0.32	0.0	-0.38	-0.48	-0.07	RYMBX
UOPSX	0.07		0.58	0.62	0.0	0.46	0.33	0.39	UOPSX
LIOTX	-0.19	0.58		0.88	0.0	0.85	0.84	0.81	LIOTX
LMUSX	-0.32	0.62	0.88		0.0	0.93	0.9	0.86	LMUSX
TIMXX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TIMXX
PRNHX	-0.38	0.46	0.85	0.93	0.0		0.94	0.88	PRNHX
BIGTX	-0.48	0.33	0.84	0.9	0.0	0.94		0.86	BIGTX
LAVVX	-0.07	0.39	0.81	0.86	0.0	0.88	0.86		LAVVX
	RYMBX	UOPSX	LIOTX	LMUSX	TIMXX	PRNHX	BIGTX	LAVVX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BIGTX	+ 0.94	PRNHX
PRNHX	+ 0.93	LMUSX
BIGTX	+ 0.9	LMUSX
LMUSX	+ 0.88	LIOTX
LAVVX	+ 0.88	PRNHX
LAVVX	+ 0.86	LMUSX

High negative correlations

BIGTX	- 0.48	RYMBX
PRNHX	- 0.38	RYMBX
LMUSX	- 0.32	RYMBX
LIOTX	- 0.19	RYMBX
LAVVX	- 0.07	RYMBX
LAVVX	- 0.0	TIMXX

Risk-Adjusted Indicators

There is a big difference between Bright Mutual Fund performing well and Bright Rock 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 Bright Rock'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
RYMBX	0.72	0.08	0.07	3.21	0.76	(0.88)	1.82	(1.46)	3.89
UOPSX	1.72	0.11	0.04	0.20	2.31	(1.75)	3.31	(3.61)	12.66
LIOTX	0.89	0.05	0.03	0.11	1.25	(0.91)	2.13	(1.97)	6.56
LMUSX	0.71	0.01	0.00	0.03	1.16	(0.67)	1.27	(1.50)	6.30
TIMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRNHX	0.85	0.01	0.00	0.03	1.20	(0.85)	1.69	(1.60)	7.56
BIGTX	0.83	(0.01)	(0.02)	(0.01)	1.21	(0.86)	1.61	(1.38)	10.10
LAVVX	0.53	0.04	0.03	0.13	0.61	(0.64)	1.21	(0.78)	5.94

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC