Regional Bank Correlations

JRBFX Fund

USD 29.23 0.31 1.07%

The current 90-days correlation between Regional Bank and Asg Global Alternatives is 0.51 (i.e., Very weak diversification). The correlation of Regional Bank 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.

Regional Bank Correlation With Market

Average diversification

The correlation between Regional Bank Fund and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Regional Bank Fund 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 Regional Bank Fund. 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 census.

Moving together with Regional Mutual Fund

1.0	FRBAX	Regional Bank	Pair Corr
1.0	FRBCX	Regional Bank	Pair Corr
0.75	JQLMX	Multimanager Lifestyle	Pair Corr
0.8	JQLBX	Multimanager Lifestyle	Pair Corr
0.85	JQLAX	Multimanager Lifestyle	Pair Corr
0.71	JQLCX	Multimanager Lifestyle	Pair Corr
0.83	JQLGX	Multimanager Lifestyle	Pair Corr
0.83	JRETX	J Hancock Ii	Pair Corr
1.0	JRGRX	Regional Bank	Pair Corr
0.71	JRLDX	Retirement Living Through	Pair Corr
0.7	JRLFX	Multi Index 2010	Pair Corr
0.73	JRLIX	Retirement Living Through	Pair Corr
0.7	JRLHX	Retirement Living Through	Pair Corr
0.72	JRLKX	Multi Index 2015	Pair Corr
0.73	JRLLX	Retirement Living Through	Pair Corr
0.75	JRLOX	Retirement Living Through	Pair Corr
0.74	JRLQX	Retirement Living Through	Pair Corr
0.74	JRLPX	Multi Index 2020	Pair Corr
0.78	JRLUX	Multi Index 2045	Pair Corr
0.77	JRLWX	Retirement Living Through	Pair Corr
0.78	JRLVX	Retirement Living Through	Pair Corr
0.77	JRLZX	Retirement Living Through	Pair Corr
0.81	JROUX	J Hancock Ii	Pair Corr
0.78	JRODX	J Hancock Ii	Pair Corr
0.81	JAAFX	Jhancock Multi Index	Pair Corr
0.8	JAAJX	Jhancock Multi Index	Pair Corr
0.8	JAAKX	Jhancock Multi Index	Pair Corr
0.76	JRTBX	Retirement Living Through	Pair Corr
0.74	JRTAX	Retirement Living Through	Pair Corr
0.75	JRTDX	Multi Index 2025	Pair Corr
0.77	JRTGX	Retirement Living Through	Pair Corr
0.75	JRTFX	Retirement Living Through	Pair Corr
0.77	JRTIX	Multi Index 2030	Pair Corr
0.83	JAAVX	Jhancock Multimanager	Pair Corr
0.78	JRTKX	Retirement Living Through	Pair Corr

Related Correlations Analysis

	GAFAX	RGELX	DSDYX	LFLCX	MGGNX	KGLCX	PEIEX
GAFAX		0.57	0.68	0.55	0.59	0.57	-0.12	GAFAX
RGELX	0.57		0.69	0.72	0.79	0.47	0.08	RGELX
DSDYX	0.68	0.69		0.76	0.95	0.39	-0.2	DSDYX
LFLCX	0.55	0.72	0.76		0.76	0.06	0.22	LFLCX
MGGNX	0.59	0.79	0.95	0.76		0.42	-0.07	MGGNX
KGLCX	0.57	0.47	0.39	0.06	0.42		-0.22	KGLCX
PEIEX	-0.12	0.08	-0.2	0.22	-0.07	-0.22		PEIEX
	GAFAX	RGELX	DSDYX	LFLCX	MGGNX	KGLCX	PEIEX

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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

MGGNX	+ 0.95	DSDYX
MGGNX	+ 0.79	RGELX
LFLCX	+ 0.76	DSDYX
MGGNX	+ 0.76	LFLCX
LFLCX	+ 0.72	RGELX
DSDYX	+ 0.69	RGELX

High negative correlations

PEIEX	- 0.22	KGLCX
PEIEX	- 0.2	DSDYX
PEIEX	- 0.12	GAFAX
PEIEX	- 0.07	MGGNX

Risk-Adjusted Indicators

There is a big difference between Regional Mutual Fund performing well and Regional Bank 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 Regional Bank'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
GAFAX	0.28	0.01	0.03	0.05	0.32	(0.31)	0.66	(0.48)	1.90
RGELX	0.58	(0.01)	0.00	0.97	0.00	0.00	1.32	(1.69)	4.33
DSDYX	0.16	(0.01)	0.00	(0.21)	0.00	0.00	0.40	(0.30)	0.95
LFLCX	0.20	(0.02)	0.00	(0.45)	0.00	0.00	0.44	(0.43)	1.31
MGGNX	0.18	(0.02)	0.00	(0.54)	0.00	0.00	0.35	(0.35)	1.05
KGLCX	1.27	0.35	0.25	3.82	1.15	(1.51)	3.14	(2.21)	8.78
PEIEX	0.76	(0.08)	0.00	(1.22)	0.00	0.00	1.36	(1.26)	12.80

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