Cognios Market Correlations

COGMX Fund

USD 12.67 0.01 0.08%

The current 90-days correlation between Cognios Market Neutral and Aqr Long Short Equity is 0.06 (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

Significant diversification

The correlation between Cognios Market Neutral and DJI is 0.09 (i.e., Significant 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 population.

Moving together with Cognios Mutual Fund

1.0	COGIX	Cognios Market Neutral	Pair Corr
0.74	PFATX	Pimco Fundamental	Pair Corr
0.74	PTFAX	Pimco Fundamental	Pair Corr

Moving against Cognios Mutual Fund

0.88	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.88	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.88	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.88	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.88	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.87	WCPSX	Mobile Telecommunicatio	Pair Corr
0.82	RSNYX	Victory Global Natural	Pair Corr
0.82	RSNRX	Victory Global Natural	Pair Corr
0.82	RGNCX	Victory Global Natural	Pair Corr
0.8	SMPSX	Semiconductor Ultrasector	Pair Corr
0.8	SMPIX	Semiconductor Ultrasector	Pair Corr
0.79	NAESX	Vanguard Small Cap	Pair Corr
0.73	HFCGX	Hennessy Nerstone Growth	Pair Corr
0.72	BDMAX	Blackrock Global Long	Pair Corr
0.72	BDMIX	Blackrock Gbl Lng	Pair Corr
0.72	BGCKX	Blackrock Global Lon	Pair Corr
0.7	BDMCX	Blackrock Global Lng	Pair Corr
0.66	QMNRX	Aqr Equity Market	Pair Corr
0.87	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.87	GUMPX	Guggenheim Market Neutral	Pair Corr
0.85	AMEIX	Equity Growth	Pair Corr
0.85	SDGTX	Deutsche Capital Growth	Pair Corr
0.84	WCEYX	Ivy E Equity	Pair Corr
0.84	LGPIX	Large Cap Growth	Pair Corr
0.83	THLCX	Thrivent Large Cap	Pair Corr
0.83	TEGYX	Mid Cap Growth	Pair Corr
0.82	CPLIX	Calamos Phineus Longshort	Pair Corr
0.8	FSRBX	Banking Portfolio Banking	Pair Corr
0.79	PWTAX	Ubs Allocation	Pair Corr
0.79	VSEQX	Vanguard Strategic Equity	Pair Corr
0.77	VFMFX	Vanguard Multifactor	Pair Corr
0.75	SSMOX	Steward Small Mid	Pair Corr
0.74	TRLCX	Tiaa-cref Large-cap	Pair Corr

Related Correlations Analysis

	QLENX	QMNNX	COGIX	AQMNX	QLEIX
QLENX		0.95	-0.73	0.54	1.0	QLENX
QMNNX	0.95		-0.65	0.4	0.95	QMNNX
COGIX	-0.73	-0.65		-0.21	-0.74	COGIX
AQMNX	0.54	0.4	-0.21		0.54	AQMNX
QLEIX	1.0	0.95	-0.74	0.54		QLEIX
	QLENX	QMNNX	COGIX	AQMNX	QLEIX

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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

QLEIX	+ 1.0	QLENX
QMNNX	+ 0.95	QLENX
QLEIX	+ 0.95	QMNNX
AQMNX	+ 0.54	QLENX
QLEIX	+ 0.54	AQMNX
AQMNX	+ 0.4	QMNNX

High negative correlations

QLEIX	- 0.74	COGIX
COGIX	- 0.73	QLENX
COGIX	- 0.65	QMNNX
AQMNX	- 0.21	COGIX

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
QLENX	0.31	0.08	(0.10)	(1.54)	0.20	(0.38)	0.76	(0.57)	2.17
QMNNX	0.28	0.06	(0.12)	0.79	0.19	(0.34)	0.72	(0.51)	1.95
COGIX	0.28	(0.06)	0.00	(0.93)	0.00	0.00	0.59	(0.80)	2.38
AQMNX	0.40	(0.01)	(0.16)	0.07	0.54	(0.39)	0.72	(0.82)	2.79
QLEIX	0.30	0.09	(0.09)	(1.45)	0.21	(0.35)	0.74	(0.56)	2.24

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