Bright Rock Correlations

BQMGX Fund

USD 24.55 0.26 1.05%

The current 90-days correlation between Bright Rock Mid and Gabelli Gold Fund is 0.22 (i.e., Modest 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

Very weak diversification

The correlation between Bright Rock Mid and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bright Rock Mid 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 Mid. 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 price.

Moving together with Bright Mutual Fund

0.97	BQLCX	Bright Rock Quality	Pair Corr
0.88	PAMCX	T Rowe Price	Pair Corr
0.87	RRMGX	T Rowe Price	Pair Corr
0.88	TRQZX	T Rowe Price	Pair Corr
0.88	RPMGX	T Rowe Price	Pair Corr
0.91	PRJIX	T Rowe Price	Pair Corr
0.82	PRNHX	T Rowe Price	Pair Corr
0.91	TRUZX	T Rowe Price	Pair Corr
0.88	PCBIX	Midcap Fund Institutional	Pair Corr
0.88	PEMGX	Midcap Fund Class	Pair Corr
0.89	PMBCX	Midcap Fund Class	Pair Corr
0.78	IFN	India Closed	Pair Corr
0.75	CFIPX	Qs Global Equity	Pair Corr
0.72	FLAPX	Fidelity Flex Mid	Pair Corr
0.75	NPNRX	Neuberger Berman Large	Pair Corr

Moving against Bright Mutual Fund

0.33	CII	Blackrock Enhanced	Pair Corr
0.69	LCTIX	Leader Total Return	Pair Corr
0.44	GLDZX	Low Duration Bond	Pair Corr
0.76	DLDFX	Destinations Low Duration	Pair Corr
0.35	TRBUX	T Rowe Price	Pair Corr
0.31	PZASX	Principal Lifetime 2050	Pair Corr

Related Correlations Analysis

	GLDAX	FGDCX	SGDLX	USERX	FRGOX	UIPMX	OGMCX
GLDAX		0.92	0.99	0.98	0.94	0.99	0.92	GLDAX
FGDCX	0.92		0.91	0.89	0.99	0.92	0.97	FGDCX
SGDLX	0.99	0.91		0.98	0.94	0.98	0.93	SGDLX
USERX	0.98	0.89	0.98		0.94	0.98	0.92	USERX
FRGOX	0.94	0.99	0.94	0.94		0.94	0.97	FRGOX
UIPMX	0.99	0.92	0.98	0.98	0.94		0.92	UIPMX
OGMCX	0.92	0.97	0.93	0.92	0.97	0.92		OGMCX
	GLDAX	FGDCX	SGDLX	USERX	FRGOX	UIPMX	OGMCX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GLDAX	1.27	(0.08)	(0.62)	2.79	(2.88)	8.37
FGDCX	1.36	(0.08)	(0.15)	2.68	(2.93)	7.99
SGDLX	1.33	(0.09)	(0.89)	2.66	(2.69)	7.55
USERX	1.34	(0.15)	(1.23)	2.62	(2.77)	8.10
FRGOX	1.32	(0.13)	(0.34)	2.59	(2.73)	8.02
UIPMX	1.33	(0.10)	(0.26)	2.57	(3.27)	7.60
OGMCX	1.33	(0.14)	(0.29)	2.65	(2.77)	8.94

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