Gotham Absolute Correlations

GARIX Fund

USD 21.70 0.11 0.50%

The current 90-days correlation between Gotham Absolute Return and Pace High Yield is 0.11 (i.e., Average diversification). The correlation of Gotham Absolute 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.

Gotham Absolute Correlation With Market

Very poor diversification

The correlation between Gotham Absolute Return and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Absolute Return and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gotham Absolute Return. 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 Gotham Mutual Fund

0.97	GVALX	Gotham Large Value	Pair Corr
0.93	GENIX	Gotham Enhanced Return	Pair Corr
0.96	GINDX	Gotham Index Plus	Pair Corr
0.96	GNNDX	Gotham Index Plus	Pair Corr
0.95	GTRFX	Gotham Total Return	Pair Corr
0.79	QLEIX	Aqr Long Short	Pair Corr
0.81	QLENX	Aqr Long Short	Pair Corr
0.79	QLERX	Aqr Long Short	Pair Corr
0.81	DHLSX	Diamond Hill Long	Pair Corr
0.8	DIAYX	Diamond Hill Long	Pair Corr
0.8	DIAMX	Diamond Hill Long	Pair Corr
0.63	PWLIX	Pimco Rae Worldwide	Pair Corr
0.91	SMPIX	Semiconductor Ultrasector	Pair Corr
0.95	SMPSX	Semiconductor Ultrasector	Pair Corr
0.85	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.85	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.9	FGADX	Franklin Gold Precious	Pair Corr
0.9	FGPMX	Franklin Gold And	Pair Corr
0.89	OCMGX	Ocm Mutual Fund	Pair Corr
0.87	INIYX	International Investors	Pair Corr
0.79	FKRCX	Franklin Gold Precious	Pair Corr
0.89	OCMAX	Ocm Mutual Fund	Pair Corr
0.95	RLEFX	American Balanced	Pair Corr
0.7	NMMGX	Multi Manager Global	Pair Corr
0.9	TRBOX	T Rowe Price	Pair Corr
0.87	BTSMX	Boston Trust Smid	Pair Corr
0.88	JHRGX	Retirement Living Through	Pair Corr
0.84	LMCLX	Miller Income	Pair Corr
0.92	MKGCX	Blackrock Advantage	Pair Corr
0.87	LCCCX	Columbia Trarian Core	Pair Corr
0.97	LSVEX	Lsv Value Equity	Pair Corr
0.87	CATLX	Future Scholar 529	Pair Corr
0.86	FHYSX	Federated High Yield	Pair Corr
0.82	NWJFX	Nationwide Ziegler Nyse	Pair Corr

Moving against Gotham Mutual Fund

0.54	GONIX	Gotham Neutral	Pair Corr
0.38	NLSCX	Neuberger Berman Long	Pair Corr

Related Correlations Analysis

	AGDAX	APDFX	ATPAX	MAHIX	PHDTX	AGTFX	PHIAX
AGDAX		0.97	0.98	0.94	0.95	0.91	0.95	AGDAX
APDFX	0.97		0.97	0.89	0.92	0.89	0.91	APDFX
ATPAX	0.98	0.97		0.91	0.93	0.91	0.92	ATPAX
MAHIX	0.94	0.89	0.91		0.98	0.9	0.98	MAHIX
PHDTX	0.95	0.92	0.93	0.98		0.92	1.0	PHDTX
AGTFX	0.91	0.89	0.91	0.9	0.92		0.92	AGTFX
PHIAX	0.95	0.91	0.92	0.98	1.0	0.92		PHIAX
	AGDAX	APDFX	ATPAX	MAHIX	PHDTX	AGTFX	PHIAX

Risk-Adjusted Indicators

There is a big difference between Gotham Mutual Fund performing well and Gotham Absolute 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 Gotham Absolute'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
AGDAX	0.11	0.01	(0.42)	1.92	0.00	(0.19)	0.14	(0.14)	0.86
APDFX	0.08	0.00	(0.55)	0.08	0.00	(0.17)	0.11	(0.11)	0.88
ATPAX	0.08	0.01	(0.46)	(2.08)	0.00	(0.18)	0.24	(0.12)	0.73
MAHIX	0.08	0.01	(0.51)	0.26	0.00	(0.12)	0.20	(0.10)	0.41
PHDTX	0.07	0.03	(0.39)	2.91	0.00	(0.13)	0.22	(0.11)	0.44
AGTFX	0.67	0.22	0.18	(27.64)	0.43	(0.82)	1.22	(1.14)	9.93
PHIAX	0.08	0.02	(0.43)	1.42	0.00	(0.14)	0.23	(0.11)	0.45

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