Gotham Neutral Correlations

GONIX Fund

USD 14.16 0.06 0.42%

The current 90-days correlation between Gotham Neutral and Artisan Select Equity is 0.4 (i.e., Very weak diversification). The correlation of Gotham Neutral 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 Neutral Correlation With Market

Weak diversification

The correlation between Gotham Neutral Fund and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Neutral Fund 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 Neutral Fund. 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

0.76	GDLFX	Gotham Defensive Long	Pair Corr
0.76	GINDX	Gotham Index Plus	Pair Corr
0.76	GNNDX	Gotham Index Plus	Pair Corr
0.75	PFATX	Pimco Fundamental	Pair Corr
0.75	PTFAX	Pimco Fundamental	Pair Corr
0.68	PCF	Putnam High Income	Pair Corr
0.66	TAGBX	Templeton Global Balanced	Pair Corr

Moving against Gotham Mutual Fund

0.36

CBHCX

Victory Cemp Market

Pair Corr

Related Correlations Analysis

	ARTNX	AAEZX	QLENX	SMYIX	DHGCX	PIOTX
ARTNX		0.89	0.48	0.77	0.59	0.81	ARTNX
AAEZX	0.89		0.5	0.79	0.8	0.6	AAEZX
QLENX	0.48	0.5		0.01	0.24	0.28	QLENX
SMYIX	0.77	0.79	0.01		0.69	0.61	SMYIX
DHGCX	0.59	0.8	0.24	0.69		0.24	DHGCX
PIOTX	0.81	0.6	0.28	0.61	0.24		PIOTX
	ARTNX	AAEZX	QLENX	SMYIX	DHGCX	PIOTX

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Risk-Adjusted Indicators

There is a big difference between Gotham Mutual Fund performing well and Gotham Neutral 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 Neutral'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
ARTNX	0.52	0.05	0.07	0.09	0.65	(0.60)	1.19	(0.94)	3.97
AAEZX	0.23	0.01	0.02	0.04	0.27	(0.28)	0.61	(0.40)	1.90
QLENX	0.38	0.14	0.31	0.68	0.00	(0.46)	0.81	(0.57)	2.31
SMYIX	0.64	(0.01)	0.00	(0.01)	1.09	(0.58)	1.07	(1.35)	4.20
DHGCX	0.16	0.01	0.03	0.08	0.11	(0.22)	0.37	(0.36)	1.10
PIOTX	0.61	(0.01)	0.00	(0.01)	1.11	(0.58)	1.08	(1.14)	5.46

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