Cognios Market Correlations

COGIX Fund

USD 12.42 0.01 0.08%

The current 90-days correlation between Cognios Market Neutral and Absolute Convertible Arbitrage is 0.07 (i.e., Significant diversification). The correlation of Cognios Market 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.

Cognios Market Correlation With Market

Average diversification

The correlation between Cognios Market Neutral and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cognios Market Neutral 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 Cognios Market Neutral. 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 gross domestic product.

Moving together with Cognios Mutual Fund

0.81	SMPIX	Semiconductor Ultrasector	Pair Corr
0.85	SMPSX	Semiconductor Ultrasector	Pair Corr

Moving against Cognios Mutual Fund

0.62	BDMAX	Blackrock Global Long	Pair Corr
0.57	BDMIX	Blackrock Gbl Lng	Pair Corr
0.56	BDMCX	Blackrock Global Lng	Pair Corr
0.53	CBHAX	Victory Cemp Market	Pair Corr
0.5	CBHCX	Victory Cemp Market	Pair Corr
0.37	CBHMX	Victory Market Neutral	Pair Corr
0.56	BRASX	Bats Series S	Pair Corr
0.53	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.69	DNMDX	Dunham Monthly Distr	Pair Corr
0.63	DFFGX	Dfa Short Term	Pair Corr

Related Correlations Analysis

	ARBOX	VAADX	PBXIX	PCNTX	NCIDX	LCFYX	CCD
ARBOX		0.37	0.8	0.6	0.39	0.37	-0.56	ARBOX
VAADX	0.37		0.68	0.93	0.98	0.97	-0.12	VAADX
PBXIX	0.8	0.68		0.87	0.65	0.63	-0.46	PBXIX
PCNTX	0.6	0.93	0.87		0.93	0.9	-0.24	PCNTX
NCIDX	0.39	0.98	0.65	0.93		0.95	-0.11	NCIDX
LCFYX	0.37	0.97	0.63	0.9	0.95		-0.01	LCFYX
CCD	-0.56	-0.12	-0.46	-0.24	-0.11	-0.01		CCD
	ARBOX	VAADX	PBXIX	PCNTX	NCIDX	LCFYX	CCD

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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

NCIDX	+ 0.98	VAADX
LCFYX	+ 0.97	VAADX
LCFYX	+ 0.95	NCIDX
PCNTX	+ 0.93	VAADX
NCIDX	+ 0.93	PCNTX
LCFYX	+ 0.9	PCNTX

High negative correlations

CCD	- 0.56	ARBOX
CCD	- 0.46	PBXIX
CCD	- 0.24	PCNTX
CCD	- 0.12	VAADX
CCD	- 0.11	NCIDX
CCD	- 0.01	LCFYX

Risk-Adjusted Indicators

There is a big difference between Cognios Mutual Fund performing well and Cognios Market 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 Cognios Market'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
ARBOX	0.06	(0.01)	(0.13)	(0.34)	0.19	(0.09)	0.09	(0.09)	1.33
VAADX	0.64	0.08	0.04	0.29	0.71	(0.71)	1.19	(0.97)	4.02
PBXIX	0.41	0.01	(0.07)	0.09	0.55	(0.43)	0.81	(0.80)	3.28
PCNTX	0.54	0.04	(0.01)	0.18	0.60	(0.61)	1.05	(0.92)	3.52
NCIDX	0.51	0.05	0.01	0.23	0.58	(0.56)	1.03	(0.76)	3.30
LCFYX	0.58	0.10	0.07	0.42	0.61	(0.67)	1.12	(1.03)	3.79
CCD	0.70	0.06	0.00	0.63	0.86	(0.71)	1.54	(1.43)	4.87

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