Fs Multi-strategy Correlations

FSMSX Fund

USD 11.35 0.03 0.26%

The current 90-days correlation between Fs Multi Strategy and Victory High Yield is 0.13 (i.e., Average diversification). The correlation of Fs Multi-strategy 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.

Fs Multi-strategy Correlation With Market

Modest diversification

The correlation between Fs Multi Strategy Alt and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fs Multi Strategy Alt 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 Fs Multi Strategy Alt. 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 state.

Moving together with FSMSX Mutual Fund

0.9	FSMMX	Fs Multi Strategy	Pair Corr
0.74	GAB	Gabelli Equity Trust	Pair Corr

Related Correlations Analysis

	RHYKX	BBINX	PATFX	CCD	VWALX	TPYYX	SWSFX	ARTFX
RHYKX		-0.12	0.06	0.51	0.06	0.1	0.86	0.97	RHYKX
BBINX	-0.12		0.95	0.27	0.88	0.46	-0.27	-0.01	BBINX
PATFX	0.06	0.95		0.41	0.88	0.52	-0.07	0.18	PATFX
CCD	0.51	0.27	0.41		0.4	0.57	0.37	0.65	CCD
VWALX	0.06	0.88	0.88	0.4		0.48	-0.13	0.17	VWALX
TPYYX	0.1	0.46	0.52	0.57	0.48		0.06	0.17	TPYYX
SWSFX	0.86	-0.27	-0.07	0.37	-0.13	0.06		0.84	SWSFX
ARTFX	0.97	-0.01	0.18	0.65	0.17	0.17	0.84		ARTFX
	RHYKX	BBINX	PATFX	CCD	VWALX	TPYYX	SWSFX	ARTFX

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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

ARTFX	+ 0.97	RHYKX
PATFX	+ 0.95	BBINX
VWALX	+ 0.88	BBINX
VWALX	+ 0.88	PATFX
SWSFX	+ 0.86	RHYKX
ARTFX	+ 0.84	SWSFX

High negative correlations

SWSFX	- 0.27	BBINX
SWSFX	- 0.13	VWALX
BBINX	- 0.12	RHYKX
SWSFX	- 0.07	PATFX
ARTFX	- 0.01	BBINX

Risk-Adjusted Indicators

There is a big difference between FSMSX Mutual Fund performing well and Fs Multi-strategy 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 Fs Multi-strategy'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
RHYKX	0.15	0.04	(0.34)	(2.69)	0.00	(0.29)	0.37	(0.19)	1.30
BBINX	0.12	0.01	(0.41)	0.01	0.15	(0.19)	0.29	(0.29)	1.07
PATFX	0.16	0.02	(0.24)	(0.08)	0.22	(0.24)	0.44	(0.35)	1.69
CCD	0.75	(0.01)	(0.08)	0.08	0.90	(0.82)	1.88	(1.68)	4.88
VWALX	0.16	0.00	(0.26)	0.08	0.25	(0.22)	0.37	(0.37)	1.68
TPYYX	0.70	(0.10)	0.00	(0.02)	0.00	0.00	1.40	(1.71)	5.39
SWSFX	0.04	0.00	(1.07)	(0.54)	0.00	(0.17)	0.10	(0.10)	0.49
ARTFX	0.12	0.03	(0.57)	(1.09)	0.00	(0.21)	0.33	(0.22)	1.01

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