Multi Manager Correlations

CDAZX Fund

USD 7.15 0.02 0.28%

The current 90-days correlation between Multi Manager Direct and Vy Clarion Real is 0.23 (i.e., Modest diversification). The correlation of Multi Manager 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.

Multi Manager Correlation With Market

Very weak diversification

The correlation between Multi Manager Directional Alte and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Manager Directional Alte 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 Multi Manager Directional Alternative. 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 nation.

Moving together with Multi Mutual Fund

0.92	CUSBX	Columbia Ultra Short	Pair Corr
0.63	CUURX	Columbia Small Cap	Pair Corr
0.75	CDDYX	Columbia Dividend Income	Pair Corr
0.68	CDDRX	Columbia Dividend Income	Pair Corr
0.86	CDEYX	Columbia Diversified	Pair Corr
0.68	CDIRX	Columbia Dividend Income	Pair Corr
0.76	CDOZX	Columbia Dividend	Pair Corr
0.76	CDOYX	Columbia Dividend	Pair Corr
0.65	CVERX	Columbia Mid Cap	Pair Corr
0.72	CDVZX	Columbia Diversified	Pair Corr
0.63	CVQZX	Columbia Disciplined	Pair Corr
0.89	CEBYX	Columbia Emerging Markets	Pair Corr
0.89	CEBRX	Columbia Emerging Markets	Pair Corr
0.64	CECYX	Columbia Large Cap	Pair Corr
0.64	SSVIX	Columbia Select Smaller	Pair Corr
0.74	CEPRX	Columbia Income Oppo	Pair Corr
0.83	CEVYX	Columbia Global Equity	Pair Corr
0.83	CEVZX	Columbia Global Equity	Pair Corr
0.75	CLM	Cornerstone Strategic	Pair Corr
0.67	SCIRX	Columbia Seligman	Pair Corr
0.86	CFRZX	Columbia Floating Rate	Pair Corr
0.87	CFRYX	Columbia Floating Rate	Pair Corr
0.66	SCMIX	Columbia Seligman	Pair Corr
0.62	APECX	Columbia High Yield	Pair Corr

Moving against Multi Mutual Fund

0.76	CFCIX	Columbia Large Cap	Pair Corr
0.71	CGCYX	Columbia Greater China	Pair Corr

Related Correlations Analysis

	IVRSX	SRPIX	CREYX	CREFX	PAREX	TRREX
IVRSX		-0.51	0.92	0.76	0.31	0.16	IVRSX
SRPIX	-0.51		-0.62	-0.46	-0.12	-0.24	SRPIX
CREYX	0.92	-0.62		0.85	0.51	0.35	CREYX
CREFX	0.76	-0.46	0.85		0.59	0.42	CREFX
PAREX	0.31	-0.12	0.51	0.59		0.84	PAREX
TRREX	0.16	-0.24	0.35	0.42	0.84		TRREX
	IVRSX	SRPIX	CREYX	CREFX	PAREX	TRREX

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

CREYX	+ 0.92	IVRSX
CREFX	+ 0.85	CREYX
TRREX	+ 0.84	PAREX
CREFX	+ 0.76	IVRSX
PAREX	+ 0.59	CREFX
PAREX	+ 0.51	CREYX

High negative correlations

CREYX	- 0.62	SRPIX
SRPIX	- 0.51	IVRSX
CREFX	- 0.46	SRPIX
TRREX	- 0.24	SRPIX
PAREX	- 0.12	SRPIX

Risk-Adjusted Indicators

There is a big difference between Multi Mutual Fund performing well and Multi Manager 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 Multi Manager'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
IVRSX	0.56	(0.04)	0.00	(0.05)	0.00	0.00	1.02	(1.41)	3.66
SRPIX	0.61	0.01	(0.06)	(0.02)	0.82	(0.73)	1.38	(1.34)	6.38
CREYX	0.60	(0.05)	0.00	(0.05)	0.00	0.00	1.05	(1.14)	3.89
CREFX	0.54	(0.04)	0.00	(0.04)	0.00	0.00	1.10	(1.38)	3.62
PAREX	0.62	0.00	(0.04)	0.06	0.79	(0.67)	1.20	(1.11)	5.79
TRREX	0.64	0.03	(0.02)	0.55	0.79	(0.71)	1.26	(1.07)	6.18

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