Gotham Large Correlations

GVALX Fund

USD 15.14 0.02 0.13%

The correlation of Gotham Large 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 Large Correlation With Market

Very poor diversification

The correlation between Gotham Large Value and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Large Value 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 Large Value. 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 board of governors.

Moving together with Gotham Mutual Fund

0.93	GENIX	Gotham Enhanced Return	Pair Corr
0.93	GINDX	Gotham Index Plus	Pair Corr
0.93	GNNDX	Gotham Index Plus	Pair Corr
0.99	GARIX	Gotham Absolute Return	Pair Corr
0.97	GSPFX	Gotham Enhanced Sp	Pair Corr
0.94	GTRFX	Gotham Total Return	Pair Corr
0.9	VVIAX	Vanguard Value Index	Pair Corr
0.95	AWSHX	Washington Mutual	Pair Corr
0.95	WSHCX	Washington Mutual	Pair Corr
0.85	WSHFX	Washington Mutual	Pair Corr
0.97	FWWMX	American Funds Washington	Pair Corr
0.97	FWMMX	American Funds Washington	Pair Corr
0.93	DODGX	Dodge Stock Fund	Pair Corr
0.99	AMFFX	American Mutual	Pair Corr
0.99	AMFCX	American Mutual	Pair Corr
0.94	EKWDX	Wells Fargo Advantage	Pair Corr
0.74	OEPIX	Oil Equipment Services Steady Growth	Pair Corr
0.74	OEPSX	Oil Equipment Services Steady Growth	Pair Corr
0.9	AULYX	Ultra Fund Y	Pair Corr
0.91	VTIAX	Vanguard Total Inter	Pair Corr
0.88	FRRSX	Franklin Real Estate	Pair Corr
0.83	JEMOX	Jpmorgan Emerging Markets	Pair Corr
0.95	SIDNX	Hartford Schroders	Pair Corr
0.81	PRUAX	Prudential Utility	Pair Corr
0.97	RICCX	Investment Of America	Pair Corr
0.91	GMDPX	Goldman Sachs Short	Pair Corr
0.84	CVCFX	Pioneer Disciplined Value	Pair Corr
0.91	VCIEX	International Equities	Pair Corr
0.93	IVITX	Vy Invesco Growth	Pair Corr
0.98	VADCX	Invesco Equally-weighted	Pair Corr
0.86	BRGKX	Blckrck Fds Iii	Pair Corr
0.98	SSEAX	Siit Screened World	Pair Corr
0.86	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.65	HYMOX	Lord Abbett High	Pair Corr
0.74	WCMEX	Wcm Focused Emerging	Pair Corr

Moving against Gotham Mutual Fund

0.7	AMRMX	American Mutual	Pair Corr
0.59	GONIX	Gotham Neutral	Pair Corr
0.42	CISGX	Touchstone Sands Capital	Pair Corr

Related Correlations Analysis

	SGPIX	WEBAX	SAOIX	DIVE	SAOAX	TGPNX	RYPDX	RYCIX	SNWIX	WAGTX
SGPIX		0.93	0.79	0.9	0.76	0.92	0.79	0.81	0.92	0.0	SGPIX
WEBAX	0.93		0.84	0.86	0.81	0.96	0.75	0.76	0.85	0.0	WEBAX
SAOIX	0.79	0.84		0.79	0.98	0.84	0.83	0.85	0.75	0.0	SAOIX
DIVE	0.9	0.86	0.79		0.8	0.88	0.89	0.89	0.94	0.0	DIVE
SAOAX	0.76	0.81	0.98	0.8		0.81	0.83	0.85	0.73	0.0	SAOAX
TGPNX	0.92	0.96	0.84	0.88	0.81		0.78	0.79	0.83	0.0	TGPNX
RYPDX	0.79	0.75	0.83	0.89	0.83	0.78		1.0	0.87	0.0	RYPDX
RYCIX	0.81	0.76	0.85	0.89	0.85	0.79	1.0		0.88	0.0	RYCIX
SNWIX	0.92	0.85	0.75	0.94	0.73	0.83	0.87	0.88		0.0	SNWIX
WAGTX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WAGTX
	SGPIX	WEBAX	SAOIX	DIVE	SAOAX	TGPNX	RYPDX	RYCIX	SNWIX	WAGTX

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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

RYCIX	+ 1.0	RYPDX
SAOAX	+ 0.98	SAOIX
TGPNX	+ 0.96	WEBAX
SNWIX	+ 0.94	DIVE
WEBAX	+ 0.93	SGPIX
TGPNX	+ 0.92	SGPIX

High negative correlations

WAGTX	- 0.0	SNWIX
WAGTX	- 0.0	RYCIX
WAGTX	- 0.0	RYPDX
WAGTX	- 0.0	TGPNX
WAGTX	- 0.0	SAOAX
WAGTX	- 0.0	DIVE

Risk-Adjusted Indicators

There is a big difference between Gotham Mutual Fund performing well and Gotham Large 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 Large'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
SGPIX	0.80	0.04	0.04	0.12	0.79	(0.88)	2.33	(1.48)	4.79
WEBAX	0.36	0.00	(0.08)	0.08	0.41	(0.38)	0.85	(0.64)	2.43
SAOIX	0.36	0.11	0.12	0.47	0.00	(0.45)	1.01	(0.66)	2.70
DIVE	0.65	0.14	0.07	(3.26)	0.63	(0.74)	1.43	(1.13)	4.25
SAOAX	0.38	0.14	0.14	(4.75)	0.00	(0.47)	0.99	(0.62)	2.77
TGPNX	0.23	0.01	(0.16)	0.10	0.18	(0.28)	0.51	(0.50)	1.18
RYPDX	1.02	0.52	0.73	(2.91)	0.00	(1.46)	1.41	(0.96)	24.26
RYCIX	0.92	0.43	0.59	(5.33)	0.00	(1.30)	1.41	(0.95)	18.79
SNWIX	0.96	0.18	0.21	0.24	0.61	(1.20)	2.58	(1.48)	5.82
WAGTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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