Strategic Income Correlations

JIPIX Fund

USD 10.39 0.01 0.1%

The current 90-days correlation between Strategic Income Opp and Summit Global Investments is 0.17 (i.e., Average diversification). The correlation of Strategic Income 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.

Strategic Income Correlation With Market

Poor diversification

The correlation between Strategic Income Opportunities and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategic Income Opportunities 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 Strategic Income Opportunities. 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 Strategic Mutual Fund

0.96	PONAX	Pimco Income	Pair Corr
0.7	PONCX	Pimco Income	Pair Corr
0.96	PIPNX	Pimco Income	Pair Corr
0.96	PONRX	Pimco Income	Pair Corr
0.96	PONPX	Pimco Incme Fund	Pair Corr
0.96	PIINX	Pimco Income	Pair Corr
0.96	PIMIX	Pimco Income	Pair Corr
0.98	LBNDX	Lord Abbett Bond	Pair Corr
0.97	FSTAX	Fidelity Advisor Str	Pair Corr
0.98	FSRIX	Fidelity Advisor Str	Pair Corr
0.72	PDI	Pimco Dynamic Income	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.66	INTC	Intel Upward Rally	Pair Corr
0.86	BA	Boeing	Pair Corr

Moving against Strategic Mutual Fund

0.79	UIPIX	Ultrashort Mid Cap	Pair Corr
0.55	USPSX	Profunds Ultrashort	Pair Corr
0.54	USPIX	Profunds Ultrashort	Pair Corr
0.52	T	ATT Inc Earnings Call This Week	Pair Corr
0.39	VZ	Verizon Communications Earnings Call Tomorrow	Pair Corr
0.37	TRV	The Travelers Companies	Pair Corr
0.37	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	EICVX	RGAFX	JTSQX	MFTFX	SGLIX
EICVX		0.83	0.89	0.83	0.8	EICVX
RGAFX	0.83		0.96	0.89	0.9	RGAFX
JTSQX	0.89	0.96		0.93	0.91	JTSQX
MFTFX	0.83	0.89	0.93		0.94	MFTFX
SGLIX	0.8	0.9	0.91	0.94		SGLIX
	EICVX	RGAFX	JTSQX	MFTFX	SGLIX

Risk-Adjusted Indicators

There is a big difference between Strategic Mutual Fund performing well and Strategic Income 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 Strategic Income'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
EICVX	0.65	0.19	0.22	1.24	0.16	(0.77)	1.31	(0.84)	8.80
RGAFX	0.80	0.16	0.12	0.29	0.74	(0.89)	1.41	(1.97)	12.05
JTSQX	0.52	0.06	0.06	0.16	0.51	(0.56)	1.05	(1.00)	4.95
MFTFX	1.03	0.18	0.11	0.63	1.02	(1.18)	2.06	(1.78)	5.99
SGLIX	0.59	0.24	0.39	0.74	0.00	(0.74)	1.02	(0.67)	11.12

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