1290 Essex Correlations

ESCJX Fund

13.56 0.16 1.17%

The current 90-days correlation between 1290 Essex Small and Allianzgi Diversified Income is 0.14 (i.e., Average diversification). The correlation of 1290 Essex 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.

1290 Essex Correlation With Market

Very weak diversification

The correlation between 1290 Essex Small and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Essex Small 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 1290 Essex Small. 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 inflation.

Moving together with 1290 Mutual Fund

0.61	ESCFX	1290 Funds	Pair Corr
0.64	TNHAX	1290 High Yield	Pair Corr
0.76	TNHIX	1290 High Yield	Pair Corr
0.79	TNHRX	1290 High Yield	Pair Corr
0.67	TNMAX	1290 Multi Alternative	Pair Corr
0.8	TNMIX	1290 Multi Alternative	Pair Corr
0.76	TNMRX	1290 Multi Alternative	Pair Corr
0.87	TNVDX	1290 Doubleline Dynamic	Pair Corr
0.76	TNXIX	1290 Retirement 2060	Pair Corr
0.8	VSGAX	Vanguard Small Cap	Pair Corr
0.8	VSGIX	Vanguard Small Cap	Pair Corr
0.8	VISGX	Vanguard Small Cap	Pair Corr
0.85	VTSAX	Vanguard Total Stock	Pair Corr
0.84	VFIAX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	XACVX	FHCOX	LIGFX	GPICX	PQCNX	PGBAX	PDAAX
XACVX		0.22	0.93	0.27	0.65	0.84	0.83	XACVX
FHCOX	0.22		0.13	0.94	-0.25	0.19	0.38	FHCOX
LIGFX	0.93	0.13		0.17	0.74	0.87	0.82	LIGFX
GPICX	0.27	0.94	0.17		-0.28	0.23	0.35	GPICX
PQCNX	0.65	-0.25	0.74	-0.28		0.75	0.68	PQCNX
PGBAX	0.84	0.19	0.87	0.23	0.75		0.94	PGBAX
PDAAX	0.83	0.38	0.82	0.35	0.68	0.94		PDAAX
	XACVX	FHCOX	LIGFX	GPICX	PQCNX	PGBAX	PDAAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

GPICX	+ 0.94	FHCOX
PDAAX	+ 0.94	PGBAX
LIGFX	+ 0.93	XACVX
PGBAX	+ 0.87	LIGFX
PGBAX	+ 0.84	XACVX
PDAAX	+ 0.83	XACVX

High negative correlations

PQCNX	- 0.28	GPICX
PQCNX	- 0.25	FHCOX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Essex 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 1290 Essex'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
XACVX	0.71	0.05	0.01	0.19	0.94	(0.74)	1.43	(1.48)	5.43
FHCOX	0.04	0.01	0.00	3.79	0.00	0.00	0.10	0.00	0.61
LIGFX	0.28	0.01	(0.10)	0.11	0.37	(0.29)	0.62	(0.50)	2.04
GPICX	0.04	0.00	0.00	0.52	0.00	0.00	0.10	(0.10)	0.42
PQCNX	0.23	(0.01)	(0.22)	(0.05)	0.25	(0.34)	0.82	(0.59)	1.64
PGBAX	0.15	(0.01)	(0.34)	(0.08)	0.16	(0.20)	0.34	(0.34)	1.01
PDAAX	0.17	0.01	(0.22)	0.18	0.11	(0.26)	0.52	(0.31)	1.35

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC