1290 Essex Correlations

ESCJX Fund

13.24 0.23 1.71%

The current 90-days correlation between 1290 Essex Small and 1290 Funds is 1.0 (i.e., No risk reduction). 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

Significant diversification

The correlation between 1290 Essex Small and DJI is 0.04 (i.e., Significant 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

1.0	ESCKX	1290 Funds	Pair Corr
0.92	ESCFX	1290 Funds	Pair Corr
0.7	TNBIX	1290 Smartbeta Equity	Pair Corr
0.69	TNBRX	1290 Smartbeta Equity	Pair Corr
0.64	TNBCX	1290 Smartbeta Equity	Pair Corr
0.7	TNBAX	1290 Smartbeta Equity	Pair Corr
0.67	TNOIX	1290 Retirement 2045	Pair Corr
0.63	TNNIX	1290 Retirement 2040	Pair Corr
0.73	TNQIX	1290 Retirement 2055	Pair Corr
0.87	TNRAX	1290 Funds	Pair Corr
0.66	TNVCX	1290 Gamco Smallmid	Pair Corr
0.84	TNVAX	1290 Gamco Smallmid	Pair Corr
0.84	TNVIX	1290 Gamco Smallmid	Pair Corr
0.82	TNXIX	1290 Retirement 2060	Pair Corr
0.84	TNVRX	1290 Gamco Smallmid	Pair Corr
0.7	TNWIX	1290 Retirement 2050	Pair Corr
0.89	VSGAX	Vanguard Small Cap	Pair Corr
0.89	VSGIX	Vanguard Small Cap	Pair Corr
0.89	VISGX	Vanguard Small Cap	Pair Corr
0.89	VEXPX	Vanguard Explorer	Pair Corr
0.89	VEXRX	Vanguard Explorer	Pair Corr
0.88	JGMIX	Janus Triton	Pair Corr

Moving against 1290 Mutual Fund

0.74	TNURX	1290 Unconstrained Bond	Pair Corr
0.73	TNUAX	1290 Unconstrained Bond	Pair Corr
0.71	TNUIX	1290 Unconstrained Bond	Pair Corr

Related Correlations Analysis

	ESCKX	ESCJX	TNBIX	TNBRX	TNBCX	TNBAX	TNIIX	TNHAX	TNHIX
ESCKX		1.0	0.7	0.69	0.64	0.69	0.17	0.56	0.6	ESCKX
ESCJX	1.0		0.7	0.69	0.64	0.7	0.17	0.57	0.6	ESCJX
TNBIX	0.7	0.7		1.0	0.83	1.0	0.64	0.81	0.81	TNBIX
TNBRX	0.69	0.69	1.0		0.82	1.0	0.65	0.8	0.8	TNBRX
TNBCX	0.64	0.64	0.83	0.82		0.83	0.34	0.83	0.81	TNBCX
TNBAX	0.69	0.7	1.0	1.0	0.83		0.65	0.81	0.8	TNBAX
TNIIX	0.17	0.17	0.64	0.65	0.34	0.65		0.53	0.53	TNIIX
TNHAX	0.56	0.57	0.81	0.8	0.83	0.81	0.53		0.99	TNHAX
TNHIX	0.6	0.6	0.81	0.8	0.81	0.8	0.53	0.99		TNHIX
	ESCKX	ESCJX	TNBIX	TNBRX	TNBCX	TNBAX	TNIIX	TNHAX	TNHIX

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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
ESCKX	1.07	0.14	0.02	1.65	1.23	(1.29)	2.59	(2.22)	7.80
ESCJX	1.07	0.14	0.02	1.75	1.25	(1.25)	2.57	(2.19)	7.79
TNBIX	0.43	(0.01)	(0.11)	0.10	0.39	(0.54)	1.12	(0.66)	2.67
TNBRX	0.44	(0.01)	(0.11)	0.10	0.42	(0.53)	1.07	(0.66)	2.69
TNBCX	0.30	0.05	(0.14)	(0.36)	0.26	(0.57)	0.88	(0.61)	2.35
TNBAX	0.43	(0.01)	(0.11)	0.10	0.39	(0.54)	1.12	(0.66)	2.74
TNIIX	0.23	(0.02)	(0.34)	0.05	0.21	(0.32)	0.55	(0.46)	1.47
TNHAX	0.11	0.00	(0.62)	0.00	0.00	(0.16)	0.24	(0.12)	0.70
TNHIX	0.10	0.02	(0.67)	3.00	0.00	(0.16)	0.24	(0.12)	0.59

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