Fpa New Correlations

FPNIX Fund

USD 10.09 0.01 0.1%

The current 90-days correlation between Fpa New Income and Jpmorgan Smartretirement 2035 is 0.16 (i.e., Average diversification). The correlation of Fpa New 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.

Fpa New Correlation With Market

Very weak diversification

The correlation between Fpa New Income and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fpa New Income 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 Fpa New Income. 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 Fpa Mutual Fund

0.99	FFIAX	Fpa Flexible Fixed	Pair Corr
0.71	QRSAX	Fpa Queens Road	Pair Corr
0.81	QRSIX	Fpa Queens Road	Pair Corr
0.62	QRSVX	Queens Road Small	Pair Corr
0.69	FPCSX	Fpa Crescent	Pair Corr
0.98	FPFIX	Fpa Flexible Fixed	Pair Corr
0.82	FPFRX	Fpa Crescent	Pair Corr
0.99	FPNRX	Fpa New Income	Pair Corr
0.7	VBIRX	Vanguard Short Term	Pair Corr
0.71	VFSUX	Vanguard Short Term	Pair Corr
0.72	VFSIX	Vanguard Short Term	Pair Corr
0.72	VFSTX	Vanguard Short Term	Pair Corr
0.69	VBITX	Vanguard Short Term	Pair Corr
0.71	VBISX	Vanguard Short Term	Pair Corr
0.81	VSCSX	Vanguard Short Term	Pair Corr
0.63	LALDX	Lord Abbett Short	Pair Corr
0.79	LDLAX	Lord Abbett Short	Pair Corr
0.69	LDLRX	Lord Abbett Short	Pair Corr
0.72	GAAKX	Gmo Alternative Allo	Pair Corr
0.72	GAAGX	Gmo Alternative Allo	Pair Corr
0.61	GPBFX	Gmo E Plus	Pair Corr
0.65	GPMFX	Guidepath Managed Futures	Pair Corr
0.66	PQTAX	Pimco Trends Managed	Pair Corr
0.66	PQTNX	Pimco Trends Managed	Pair Corr
0.66	PQTIX	Aa Pimco Tr	Pair Corr
0.68	MNOSX	Manning Napier Overseas	Pair Corr
0.7	TGVAX	Thornburg International	Pair Corr
0.66	SUIAX	Deutsche Croci Inter	Pair Corr
0.66	AVFIX	American Beacon Small	Pair Corr
0.68	ELBAX	Ashmore Emerging Markets	Pair Corr

Moving against Fpa Mutual Fund

0.39

PTY

Pimco Corporate Income

Pair Corr

Related Correlations Analysis

	SAWMX	TSMLX	MGDCX	MMDAX	CMACX	URFRX	SRJIX
SAWMX		0.94	0.98	0.98	0.98	0.94	0.93	SAWMX
TSMLX	0.94		0.93	0.93	0.95	0.97	0.95	TSMLX
MGDCX	0.98	0.93		1.0	0.99	0.91	0.91	MGDCX
MMDAX	0.98	0.93	1.0		0.98	0.91	0.91	MMDAX
CMACX	0.98	0.95	0.99	0.98		0.92	0.92	CMACX
URFRX	0.94	0.97	0.91	0.91	0.92		0.98	URFRX
SRJIX	0.93	0.95	0.91	0.91	0.92	0.98		SRJIX
	SAWMX	TSMLX	MGDCX	MMDAX	CMACX	URFRX	SRJIX

Risk-Adjusted Indicators

There is a big difference between Fpa Mutual Fund performing well and Fpa New 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 Fpa New'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
SAWMX	0.37	0.10	0.15	0.32	0.00	(0.46)	0.70	(0.59)	4.02
TSMLX	0.42	0.06	0.06	0.17	0.27	(0.50)	0.75	(0.73)	5.89
MGDCX	0.49	0.07	0.07	0.18	0.41	(0.55)	0.99	(0.93)	5.22
MMDAX	0.41	0.07	0.07	0.20	0.23	(0.48)	0.95	(0.67)	5.00
CMACX	0.40	0.03	0.00	0.13	0.35	(0.44)	0.86	(0.75)	3.54
URFRX	0.45	0.09	0.10	0.25	0.29	(0.52)	0.97	(0.97)	5.02
SRJIX	0.42	0.04	0.02	0.15	0.35	(0.47)	0.83	(0.73)	4.59

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