Gotham Enhanced Correlations

GSPFX Fund

USD 20.24 0.07 0.34%

The current 90-days correlation between Gotham Enhanced Sp and Siit Ultra Short is -0.12 (i.e., Good diversification). The correlation of Gotham Enhanced 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 Enhanced Correlation With Market

Very poor diversification

The correlation between Gotham Enhanced Sp and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Enhanced Sp 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 Enhanced Sp. 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 census.

Moving together with Gotham Mutual Fund

0.83	GCHDX	Gotham Hedged E	Pair Corr
0.81	GDLFX	Gotham Defensive Long	Pair Corr
0.88	GVALX	Gotham Large Value	Pair Corr
0.79	GENIX	Gotham Enhanced Return	Pair Corr
0.99	GINDX	Gotham Index Plus	Pair Corr
0.99	GNNDX	Gotham Index Plus	Pair Corr
0.88	GARIX	Gotham Absolute Return	Pair Corr
0.8	GTRFX	Gotham Total Return	Pair Corr
0.85	VTSAX	Vanguard Total Stock	Pair Corr
0.82	VFIAX	Vanguard 500 Index	Pair Corr
0.85	VTSMX	Vanguard Total Stock	Pair Corr
0.85	VITSX	Vanguard Total Stock	Pair Corr
0.85	VSMPX	Vanguard Total Stock	Pair Corr
0.85	VSTSX	Vanguard Total Stock	Pair Corr
0.82	VFINX	Vanguard 500 Index	Pair Corr
0.84	VFFSX	Vanguard 500 Index	Pair Corr
0.84	VINIX	Vanguard Institutional	Pair Corr
0.84	VIIIX	Vanguard Institutional	Pair Corr
0.64	XNKGX	Nuveen Georgia Quality	Pair Corr
0.67	XPPRX	Voya Prime Rate	Pair Corr
0.77	RSGGX	Victory Rs Global	Pair Corr
0.84	MIEYX	Mm Sp 500	Pair Corr
0.81	TASMX	Transamerica Smallmid Cap	Pair Corr
0.82	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.74	MMBDX	Massmutual Premier	Pair Corr
0.78	PCWPX	Strategic Asset Mana	Pair Corr
0.81	FCNTX	Fidelity Contrafund	Pair Corr
0.84	SPXUX	Wisdomtree Digital Trust	Pair Corr
0.82	FSKAX	Fidelity Total Market	Pair Corr
0.65	GLRBX	James Balanced Golden	Pair Corr

Moving against Gotham Mutual Fund

0.62	XNXJX	Nuveen New Jersey	Pair Corr
0.56	XNBHX	Neuberger Berman Int	Pair Corr
0.51	NXJ	Nuveen New Jersey	Pair Corr
0.4	XDSMX	Dreyfus Strategic	Pair Corr
0.39	MDNLX	Blackrock National	Pair Corr

Related Correlations Analysis

	SUSAX	BXDCX	BSGAX	CDICX	FTFZX	QLENX
SUSAX		0.86	0.6	-0.06	0.68	0.68	SUSAX
BXDCX	0.86		0.87	0.33	0.83	0.42	BXDCX
BSGAX	0.6	0.87		0.67	0.84	0.08	BSGAX
CDICX	-0.06	0.33	0.67		0.46	-0.39	CDICX
FTFZX	0.68	0.83	0.84	0.46		0.34	FTFZX
QLENX	0.68	0.42	0.08	-0.39	0.34		QLENX
	SUSAX	BXDCX	BSGAX	CDICX	FTFZX	QLENX

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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

BSGAX	+ 0.87	BXDCX
BXDCX	+ 0.86	SUSAX
FTFZX	+ 0.84	BSGAX
FTFZX	+ 0.83	BXDCX
FTFZX	+ 0.68	SUSAX
QLENX	+ 0.68	SUSAX

High negative correlations

QLENX	- 0.39	CDICX
CDICX	- 0.06	SUSAX

Risk-Adjusted Indicators

There is a big difference between Gotham Mutual Fund performing well and Gotham Enhanced 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 Enhanced'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
SUSAX	0.06	0.01	(1.02)	(1.03)	0.00	(0.15)	0.10	(0.10)	0.51
BXDCX	0.09	0.00	(0.80)	0.00	0.00	(0.16)	0.22	(0.11)	0.65
BSGAX	0.09	0.00	(0.72)	(0.13)	0.00	(0.16)	0.24	(0.12)	0.72
CDICX	0.09	0.00	(0.92)	0.20	0.05	(0.12)	0.26	(0.13)	0.64
FTFZX	0.07	0.00	(0.60)	0.30	0.00	(0.13)	0.19	(0.10)	0.68
QLENX	0.32	0.09	(0.07)	(1.55)	0.20	(0.38)	0.76	(0.57)	2.17

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