Alps/kotak India Correlations

INDIX Fund

USD 16.61 0.10 0.61%

The correlation of Alps/kotak India 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.

Alps/kotak India Correlation With Market

Average diversification

The correlation between Alpskotak India Growth and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpskotak India Growth 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 Alpskotak India Growth. 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 Alps/kotak Mutual Fund

1.0	INAAX	Alpskotak India Growth	Pair Corr
1.0	INFCX	Alpskotak India Growth	Pair Corr
1.0	INDAX	Alpskotak India Growth	Pair Corr
1.0	INDSX	Financial Investors Trust	Pair Corr
0.76	LPERX	Alpsred Rocks Listed	Pair Corr
0.69	LPFCX	Alpsred Rocks Listed	Pair Corr
0.66	SMCHX	Alpssmith Total Return	Pair Corr
0.91	ALIBX	ALPSSmith Balanced	Pair Corr
0.91	ALPBX	ALPSSmith Balanced	Pair Corr
0.89	MIDNX	Matthews India	Pair Corr
0.89	MINDX	Matthews India	Pair Corr
0.95	WAINX	Wasatch Emerging India	Pair Corr
0.95	WIINX	Wasatch Emerging India	Pair Corr
0.91	ECGIX	Eaton Vance Greater	Pair Corr
0.89	ETGIX	Eaton Vance Greater	Pair Corr
0.88	EGIIX	Eaton Vance Greater	Pair Corr

Moving against Alps/kotak Mutual Fund

0.66	SMDSX	Alpssmith Short Duration	Pair Corr
0.62	SMASX	Alpssmith Short Duration	Pair Corr
0.54	SMCMX	Alpssmith Short Duration	Pair Corr
0.36	JCCSX	Alpscorecommodity	Pair Corr
0.36	JCRAX	Alps/corecommodity	Pair Corr
0.36	JCRIX	Alps/corecommodity	Pair Corr
0.33	JCRCX	Alps/corecommodity	Pair Corr
0.7	LETRX	Voya Russia Fund	Pair Corr
0.67	SMRSX	Alpssmith Short Duration	Pair Corr

Related Correlations Analysis

	CVMYX	SBCEX	FREAX	FRESX	FRLAX	FRSSX	SBYEX	KMKNX	FRXIX
CVMYX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CVMYX
SBCEX	0.0		-0.25	-0.16	-0.14	0.0	1.0	-0.11	0.0	SBCEX
FREAX	0.0	-0.25		0.98	0.96	0.0	-0.25	0.19	0.0	FREAX
FRESX	0.0	-0.16	0.98		0.98	0.0	-0.15	0.21	0.0	FRESX
FRLAX	0.0	-0.14	0.96	0.98		0.0	-0.13	0.13	0.0	FRLAX
FRSSX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	FRSSX
SBYEX	0.0	1.0	-0.25	-0.15	-0.13	0.0		-0.11	0.0	SBYEX
KMKNX	0.0	-0.11	0.19	0.21	0.13	0.0	-0.11		0.0	KMKNX
FRXIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		FRXIX
	CVMYX	SBCEX	FREAX	FRESX	FRLAX	FRSSX	SBYEX	KMKNX	FRXIX

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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

SBYEX	+ 1.0	SBCEX
FRESX	+ 0.98	FREAX
FRLAX	+ 0.98	FRESX
FRLAX	+ 0.96	FREAX
KMKNX	+ 0.21	FRESX
KMKNX	+ 0.19	FREAX

High negative correlations

SBYEX	- 0.25	FREAX
FREAX	- 0.25	SBCEX
FRESX	- 0.16	SBCEX
SBYEX	- 0.15	FRESX
FRLAX	- 0.14	SBCEX
SBYEX	- 0.13	FRLAX

Risk-Adjusted Indicators

There is a big difference between Alps/kotak Mutual Fund performing well and Alps/kotak India 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 Alps/kotak India'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
CVMYX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBCEX	0.46	(0.01)	(0.12)	0.00	0.60	(0.59)	0.96	(1.10)	3.45
FREAX	0.92	(0.20)	0.00	(0.31)	0.00	0.00	1.31	(1.79)	6.53
FRESX	0.88	(0.16)	0.00	(0.24)	0.00	0.00	1.40	(1.78)	5.19
FRLAX	0.98	(0.26)	0.00	(0.48)	0.00	0.00	1.43	(2.26)	8.42
FRSSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBYEX	0.46	(0.01)	(0.12)	(0.01)	0.60	(0.59)	0.95	(1.11)	3.49
KMKNX	1.87	0.25	0.08	0.43	2.41	(1.98)	3.82	(5.12)	15.50
FRXIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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