Destinations Multi Correlations

DMSZX Fund

USD 10.00 0.01 0.1%

The current 90-days correlation between Destinations Multi and Franklin High Yield is -0.02 (i.e., Good diversification). The correlation of Destinations Multi 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.

Destinations Multi Correlation With Market

Very poor diversification

The correlation between Destinations Multi Strategy and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destinations Multi Strategy and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Destinations Multi Strategy. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Destinations Mutual Fund

0.72	BIMBX	Blackrock Alternative	Pair Corr
0.72	BAMBX	Blackrock Alternative	Pair Corr
0.82	BMBCX	Blackrock Alternative	Pair Corr
0.83	BKMBX	Blackrock Systematic	Pair Corr
0.88	BXMYX	Blackstone Alternative	Pair Corr
0.92	GARTX	Goldman Sachs Absolute	Pair Corr
0.92	GCRTX	Goldman Sachs Absolute	Pair Corr
0.88	BXMIX	Blackstone Alternative	Pair Corr
0.92	BXMDX	Blackstone Alternative	Pair Corr
0.81	PGLRX	Putnam Global Equity	Pair Corr
0.94	RSBYX	Short Duration Bond	Pair Corr
0.8	TTRBX	Ambrus Core Bond	Pair Corr
0.85	ISKIX	Voya Index Solution	Pair Corr
0.81	TLMPX	Tiaa Cref Lifecycle	Pair Corr
0.81	HRIDX	Harbor Diversified	Pair Corr
0.86	VQNPX	Vanguard Growth And	Pair Corr
0.77	LOTCX	Locorr Market Trend	Pair Corr
0.95	SNWIX	Snow Capital Small	Pair Corr
0.78	SBFIX	Federated Global All	Pair Corr
0.76	FJRLX	Fidelity Advisor	Pair Corr

Moving against Destinations Mutual Fund

0.76	XNBHX	Neuberger Berman Int	Pair Corr
0.58	XDSMX	Dreyfus Strategic	Pair Corr
0.54	XNXJX	Nuveen New Jersey	Pair Corr
0.4	QSPRX	Aqr Style Premia	Pair Corr
0.32	NXJ	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	AFB	FYMNX	OWCAX	TWTIX	BCHIX	FHYVX
AFB		0.58	0.63	0.67	0.64	0.68	AFB
FYMNX	0.58		0.57	0.97	0.96	0.97	FYMNX
OWCAX	0.63	0.57		0.67	0.65	0.62	OWCAX
TWTIX	0.67	0.97	0.67		0.96	0.97	TWTIX
BCHIX	0.64	0.96	0.65	0.96		0.98	BCHIX
FHYVX	0.68	0.97	0.62	0.97	0.98		FHYVX
	AFB	FYMNX	OWCAX	TWTIX	BCHIX	FHYVX

Risk-Adjusted Indicators

There is a big difference between Destinations Mutual Fund performing well and Destinations Multi 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 Destinations Multi'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
AFB	0.27	0.01	(0.08)	0.08	0.27	(0.32)	0.65	(0.46)	1.47
FYMNX	0.06	0.01	(0.20)	0.59	0.00	(0.13)	0.19	(0.09)	0.65
OWCAX	0.06	0.00	(0.15)	(0.05)	0.01	(0.11)	0.10	(0.10)	0.71
TWTIX	0.06	0.01	(0.19)	0.52	0.00	(0.14)	0.19	(0.09)	0.65
BCHIX	0.08	0.00	(0.17)	0.16	0.00	(0.15)	0.21	(0.10)	0.83
FHYVX	0.09	0.01	(0.13)	0.27	0.00	(0.17)	0.23	(0.11)	0.90

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