Alphacentric Hedged Correlations

Mutual Funds . USA . 
Fund . Alphacentric Hedged Market
HMXIX Fund  USD 29.64  0.08  0.27%   
The current 90-days correlation between Alphacentric Hedged and Jpmorgan Hedged Equity is 0.96 (i.e., Almost no diversification). The correlation of Alphacentric Hedged 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.

Alphacentric Hedged Correlation With Market

Very poor diversification

The correlation between Alphacentric Hedged Market and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alphacentric Hedged Market 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 Alphacentric Hedged Market. 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 Alphacentric Mutual Fund

  1.0HMXAX Alphacentric HedgedPairCorr
  1.0HMXCX Alphacentric HedgedPairCorr
  0.75GNXAX Alphacentric GlobalPairCorr
  0.74GNXCX Alphacentric GlobalPairCorr
  0.75GNXIX Alphacentric GlobalPairCorr
  1.0JHQCX Jpmorgan Hedged EquityPairCorr
  0.99JHEQX Jpmorgan Hedged EquityPairCorr
  1.0JHQAX Jpmorgan Hedged EquityPairCorr
  0.99GTENX Gateway Fund ClassPairCorr
  0.99GTECX Gateway Fund ClassPairCorr
  0.99GTEYX Gateway Fund ClassPairCorr
  0.99GATEX Gateway Fund ClassPairCorr
  0.99JHDCX Jpmorgan Hedged EquityPairCorr
  0.95JHDRX Jpmorgan Hedged EquityPairCorr
  0.99JHDAX Jpmorgan Hedged EquityPairCorr
  0.8SPMPX Invesco Steelpath MlpPairCorr
  0.8MLPNX Oppenheimer Steelpath MlpPairCorr
  0.79MLPMX Oppenheimer Steelpath MlpPairCorr
  0.79SPMJX Invesco Steelpath MlpPairCorr
  0.97BPIRX Boston Partners LongshortPairCorr
  0.99VLISX Vanguard Large CapPairCorr

Moving against Alphacentric Mutual Fund

  0.64IOFAX Alphacentric IncomePairCorr
  0.64IOFIX Alphacentric IncomePairCorr
  0.63IOFCX Alphacentric IncomePairCorr
  0.51LYFCX Alphacentric LifesciPairCorr
  0.49LYFAX Alphacentric LifesciPairCorr
  0.48LYFIX Alphacentric LifesciPairCorr
  0.33SIICX Alphacentric StrategicPairCorr
  0.53BTMPX Ishares Msci EafePairCorr
  0.53BTMKX Blackrock InternationalPairCorr
  0.53MDIIX Blackrock Intern IndexPairCorr
  0.46FMFFX Fs Managed FuturesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Alphacentric Mutual Fund performing well and Alphacentric Hedged 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 Alphacentric Hedged'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.

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