Bright Rock Correlations

BQLCX Fund

USD 24.90 0.02 0.08%

The current 90-days correlation between Bright Rock Quality and Versatile Bond Portfolio is 0.13 (i.e., Average 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

Almost no diversification

The correlation between Bright Rock Quality and DJI is 0.91 (i.e., Almost no 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

0.93	BQMGX	Bright Rock Mid	Pair Corr
0.92	VTSAX	Vanguard Total Stock	Pair Corr
0.86	VFIAX	Vanguard 500 Index	Pair Corr
0.92	VTSMX	Vanguard Total Stock	Pair Corr
0.92	VITSX	Vanguard Total Stock	Pair Corr
0.92	VSMPX	Vanguard Total Stock	Pair Corr
0.92	VSTSX	Vanguard Total Stock	Pair Corr
0.86	VFINX	Vanguard 500 Index	Pair Corr
0.91	VFFSX	Vanguard 500 Index	Pair Corr
0.91	VINIX	Vanguard Institutional	Pair Corr
0.91	VIIIX	Vanguard Institutional	Pair Corr
0.86	FXAIX	Fidelity 500 Index	Pair Corr
0.78	SBCPX	Qs Defensive Growth	Pair Corr
0.71	FFRHX	Fidelity Advisor Floating	Pair Corr
0.68	THOPX	Thompson Bond	Pair Corr
0.75	CPLIX	Calamos Phineus Longshort	Pair Corr
0.94	RTSAX	Tax Managed Mid	Pair Corr
0.9	AMEIX	Equity Growth	Pair Corr
0.94	LMBAX	Qs Small Capitalization	Pair Corr
0.73	FFALX	Franklin Founding Funds	Pair Corr
0.76	AMRCX	American Growth	Pair Corr
0.81	FCNTX	Fidelity Contrafund	Pair Corr
0.93	PRWAX	T Rowe Price	Pair Corr
0.93	FLACX	Fidelity Stock Selector	Pair Corr
0.92	FSKAX	Fidelity Total Market	Pair Corr
0.62	TRBUX	T Rowe Price	Pair Corr
0.91	USA	Liberty All Star	Pair Corr
0.73	NUSAX	Nationwide Government	Pair Corr

Moving against Bright Mutual Fund

0.42	LIIAX	Columbia Porate Income	Pair Corr
0.42	CIFRX	Columbia Porate Income	Pair Corr
0.41	SRINX	Columbia Porate Income	Pair Corr

Related Correlations Analysis

	PRVBX	NEITX	BXDCX	TEOJX	FSHIX	USCBX
PRVBX		0.01	0.88	0.46	0.45	0.18	PRVBX
NEITX	0.01		0.1	0.03	0.82	0.93	NEITX
BXDCX	0.88	0.1		0.43	0.56	0.33	BXDCX
TEOJX	0.46	0.03	0.43		0.42	0.1	TEOJX
FSHIX	0.45	0.82	0.56	0.42		0.9	FSHIX
USCBX	0.18	0.93	0.33	0.1	0.9		USCBX
	PRVBX	NEITX	BXDCX	TEOJX	FSHIX	USCBX

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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
PRVBX	0.09	0.00	(0.93)	0.33	0.00	(0.10)	0.20	(0.20)	0.53
NEITX	0.16	0.01	(0.24)	0.04	0.27	(0.27)	0.43	(0.32)	1.62
BXDCX	0.09	0.01	(0.83)	(0.50)	0.00	(0.16)	0.22	(0.11)	0.65
TEOJX	0.66	(0.02)	0.00	0.40	0.00	0.00	1.76	(1.83)	4.91
FSHIX	0.07	0.00	(0.56)	0.06	0.05	(0.14)	0.20	(0.20)	0.80
USCBX	0.15	0.02	(0.27)	(0.04)	0.23	(0.23)	0.39	(0.29)	1.74

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