Emerald Banking Correlations

HSSCX Fund

USD 24.83 0.20 0.80%

The current 90-days correlation between Emerald Banking And and Vanguard Financials Index is 0.94 (i.e., Almost no diversification). The correlation of Emerald Banking 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.

Emerald Banking Correlation With Market

Very poor diversification

The correlation between Emerald Banking And and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerald Banking And 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 Emerald Banking And. 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 main economic indicators.

Moving together with Emerald Mutual Fund

0.93	FFGRX	Emerald Growth	Pair Corr
0.87	EFCAX	Emerald Insights	Pair Corr
0.87	EFCIX	Emerald Insights	Pair Corr
0.93	HSPGX	Emerald Growth	Pair Corr
0.93	HSPCX	Emerald Growth	Pair Corr
0.98	VFAIX	Vanguard Financials Index	Pair Corr
0.99	FRBCX	Regional Bank	Pair Corr
0.94	JRGRX	Regional Bank	Pair Corr
0.93	PRISX	T Rowe Price	Pair Corr
0.98	FIDCX	Financial Industries	Pair Corr
0.98	JFDRX	Financial Industries	Pair Corr
0.93	TFIFX	T Rowe Price	Pair Corr
0.97	DVFYX	Davis Financial	Pair Corr
0.97	RPFGX	Davis Financial	Pair Corr
0.97	DFFCX	Davis Financial	Pair Corr
0.93	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.93	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.93	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.93	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.93	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.92	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.92	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.93	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.92	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.93	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.82	TEGYX	Mid Cap Growth	Pair Corr
0.86	STENX	Northern Lights	Pair Corr
0.94	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.77	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.76	LGPIX	Large Cap Growth	Pair Corr
0.91	PRDSX	T Rowe Price	Pair Corr
0.95	NAESX	Vanguard Small Cap	Pair Corr
0.94	VSEQX	Vanguard Strategic Equity	Pair Corr
0.81	VFMFX	Vanguard Multifactor	Pair Corr
0.77	WCEYX	Ivy E Equity	Pair Corr
0.89	AMEIX	Equity Growth	Pair Corr
0.85	FSRBX	Banking Portfolio Banking	Pair Corr
0.77	SDGTX	Deutsche Capital Growth	Pair Corr

Related Correlations Analysis

	VFAIX	TFIFX	RPFGX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF
VFAIX		0.97	0.99	-0.67	0.0	-0.01	0.42	0.52	-0.15	-0.7	VFAIX
TFIFX	0.97		0.97	-0.72	0.0	-0.07	0.43	0.53	-0.17	-0.68	TFIFX
RPFGX	0.99	0.97		-0.69	0.0	-0.04	0.48	0.53	-0.17	-0.66	RPFGX
444859BR2	-0.67	-0.72	-0.69		0.0	0.22	-0.53	-0.54	-0.03	0.41	444859BR2
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.01	-0.07	-0.04	0.22	0.0		-0.45	-0.35	-0.4	-0.04	BRRAY
MSTSX	0.42	0.43	0.48	-0.53	0.0	-0.45		0.67	0.34	-0.02	MSTSX
LBHIX	0.52	0.53	0.53	-0.54	0.0	-0.35	0.67		0.51	-0.29	LBHIX
ABHYX	-0.15	-0.17	-0.17	-0.03	0.0	-0.4	0.34	0.51		-0.05	ABHYX
SCAXF	-0.7	-0.68	-0.66	0.41	0.0	-0.04	-0.02	-0.29	-0.05		SCAXF
	VFAIX	TFIFX	RPFGX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RPFGX	+ 0.99	VFAIX
TFIFX	+ 0.97	VFAIX
RPFGX	+ 0.97	TFIFX
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.53	TFIFX
LBHIX	+ 0.53	RPFGX

High negative correlations

444859BR2	- 0.72	TFIFX
SCAXF	- 0.7	VFAIX
444859BR2	- 0.69	RPFGX
SCAXF	- 0.68	TFIFX
444859BR2	- 0.67	VFAIX
SCAXF	- 0.66	RPFGX

Risk-Adjusted Indicators

There is a big difference between Emerald Mutual Fund performing well and Emerald Banking 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 Emerald Banking'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
VFAIX	0.78	0.07	0.14	0.18	0.52	(0.91)	1.77	(1.22)	8.51
TFIFX	0.80	0.25	0.14	(2.17)	0.53	(0.94)	1.68	(1.29)	8.41
RPFGX	0.80	0.05	0.11	0.16	0.51	(1.00)	1.85	(1.40)	7.59
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC