Fxybjx Correlations
| FXYBJX Fund | 10.52 0.04 0.38% |
The current 90-days correlation between Fxybjx and Leader Short Term Bond is 0.04 (i.e., Significant diversification). The correlation of Fxybjx 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.
Fxybjx Correlation With Market
Average diversification
The correlation between Fxybjx and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fxybjx and DJI in the same portfolio, assuming nothing else is changed.
Fxybjx |
Moving against Fxybjx Fund
| 0.5 | HIMUX | Pioneer Map High | PairCorr |
| 0.46 | NRABX | Neuberger Berman Absolute | PairCorr |
| 0.43 | HIE | Millerhoward High Income | PairCorr |
| 0.4 | SUSAX | Siit Ultra Short | PairCorr |
| 0.5 | QREARX | Teachers Insurance And | PairCorr |
| 0.47 | PCRRX | Commodityrealreturn | PairCorr |
| 0.39 | AOUIX | Angel Oak Ultrashort | PairCorr |
| 0.39 | AMFIX | Aama Income Fund | PairCorr |
| 0.38 | NFRAX | Nuveen Symphony Floating | PairCorr |
| 0.37 | NFFCX | Nuveen Symphony Floating | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Fxybjx Fund performing well and Fxybjx 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 Fxybjx'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LCCMX | 0.11 | 0.04 | 0.00 | 1.73 | 0.00 | 0.25 | 1.84 | |||
| BSBIX | 0.06 | 0.00 | (0.15) | (0.02) | 0.00 | 0.11 | 0.42 | |||
| ATOAX | 0.03 | 0.00 | 0.00 | 0.58 | 0.00 | 0.10 | 0.40 | |||
| TAAQX | 0.08 | 0.00 | (0.14) | 0.05 | 0.00 | 0.21 | 0.62 | |||
| TSDCX | 0.05 | 0.01 | (0.10) | 1.58 | 0.00 | 0.11 | 0.66 | |||
| JSNIX | 0.08 | 0.00 | (0.14) | 0.06 | 0.00 | 0.22 | 0.65 | |||
| ASDIX | 0.06 | 0.00 | (0.15) | 0.13 | 0.00 | 0.20 | 0.40 | |||
| DULTX | 0.04 | 0.01 | 0.00 | (2.15) | 0.00 | 0.10 | 0.71 |
Fxybjx Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Fxybjx fund to make a market-neutral strategy. Peer analysis of Fxybjx could also be used in its relative valuation, which is a method of valuing Fxybjx by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |