Floating Rate Correlations

LFRFX Fund

USD 8.07 0.01 0.12%

The current 90-days correlation between Floating Rate and Alpine Ultra Short is 0.25 (i.e., Modest diversification). The correlation of Floating Rate 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.

Floating Rate Correlation With Market

Poor diversification

The correlation between Floating Rate Fund and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Floating Rate Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Floating Rate 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 price.

Moving together with Floating Mutual Fund

0.9	OOSYX	Oppenheimer Senior	Pair Corr
0.92	OOSIX	Oppenheimer Senior	Pair Corr
0.99	LFRIX	Floating Rate	Pair Corr
1.0	LARCX	Floating Rate	Pair Corr
1.0	LFRRX	Lord Abbett Inv	Pair Corr
1.0	LRRRX	Floating Rate	Pair Corr
1.0	LRRTX	Floating Rate	Pair Corr
0.99	LRRVX	Floating Rate	Pair Corr
1.0	LRRKX	Floating Rate	Pair Corr
0.61	VSMPX	Vanguard Total Stock	Pair Corr
0.61	VITSX	Vanguard Total Stock	Pair Corr
0.84	VTSNX	Vanguard Total Inter	Pair Corr
0.83	VTISX	Vanguard Total Inter	Pair Corr
0.83	VTPSX	Vanguard Total Inter	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr
0.76	BA	Boeing Earnings Call Today	Pair Corr
0.77	AA	Alcoa Corp Downward Rally	Pair Corr
0.66	MRK	Merck Company Earnings Call This Week	Pair Corr

Moving against Floating Mutual Fund

0.54	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr
0.51	HPQ	HP Inc	Pair Corr
0.32	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FSHAX	RPHIX	AOUNX	CMGUX	SNORX	PRMDX	ATOAX
FSHAX		0.93	0.96	0.95	0.88	0.97	0.96	FSHAX
RPHIX	0.93		0.95	0.93	0.97	0.88	0.91	RPHIX
AOUNX	0.96	0.95		0.99	0.9	0.92	0.97	AOUNX
CMGUX	0.95	0.93	0.99		0.87	0.91	0.97	CMGUX
SNORX	0.88	0.97	0.9	0.87		0.8	0.84	SNORX
PRMDX	0.97	0.88	0.92	0.91	0.8		0.97	PRMDX
ATOAX	0.96	0.91	0.97	0.97	0.84	0.97		ATOAX
	FSHAX	RPHIX	AOUNX	CMGUX	SNORX	PRMDX	ATOAX

Risk-Adjusted Indicators

There is a big difference between Floating Mutual Fund performing well and Floating Rate 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 Floating Rate'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
FSHAX	0.03	0.00	0.00	0.00	0.00	0.00	0.10	(0.10)	0.41
RPHIX	0.04	0.01	0.00	1.98	0.00	0.00	0.10	0.00	0.21
AOUNX	0.05	0.01	(0.57)	(2.20)	0.00	(0.22)	0.10	(0.10)	0.51
CMGUX	0.04	0.01	0.00	(0.98)	0.00	0.00	0.11	0.00	0.44
SNORX	0.72	0.19	0.24	0.36	0.31	(0.86)	1.78	(1.05)	6.59
PRMDX	0.03	0.00	0.00	(0.13)	0.00	0.00	0.19	0.00	0.39
ATOAX	0.03	0.00	0.00	(0.31)	0.00	0.00	0.20	0.00	0.30

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