Alps/red Rocks Correlations

LPEFX Fund

USD 5.46 0.06 1.09%

The current 90-days correlation between Alpsred Rocks Listed and Discipline Fund ETF is 0.1 (i.e., Average diversification). The correlation of Alps/red Rocks 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/red Rocks Correlation With Market

Very poor diversification

The correlation between Alpsred Rocks Listed 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 Alpsred Rocks Listed 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 Alpsred Rocks Listed. 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 Alps/red Mutual Fund

0.71	RAGIX	Riverfront Asset All	Pair Corr
0.81	BHIMX	ALPS Series Trust	Pair Corr
0.8	BHIIX	Brigade High Income	Pair Corr
0.91	AVPEX	Alpsred Rocks Listed	Pair Corr
1.0	LPEIX	Alpsred Rocks Listed	Pair Corr
1.0	LPERX	Alpsred Rocks Listed	Pair Corr
0.97	LPFAX	Alpsred Rocks Listed	Pair Corr
0.97	LPFCX	Alpsred Rocks Listed	Pair Corr
0.73	SMASX	Alpssmith Short Duration	Pair Corr
0.75	SMCMX	Alpssmith Short Duration	Pair Corr
0.73	SMDSX	Alpssmith Short Duration	Pair Corr
0.71	SMRSX	Alpssmith Short Duration	Pair Corr
0.71	RLGCX	Riverfront Dynamic Equity	Pair Corr
0.69	RLGAX	Riverfront Dynamic Equity	Pair Corr
0.73	RLIIX	Riverfront Dynamic Equity	Pair Corr
0.9	ALCBX	ALPSSmith Balanced	Pair Corr
0.93	ALIBX	ALPSSmith Balanced	Pair Corr
0.93	ALPBX	ALPSSmith Balanced	Pair Corr
0.78	SCWCX	American Fds Smallcap	Pair Corr
0.79	SCWFX	Smallcap World	Pair Corr
0.78	SMCWX	Smallcap World	Pair Corr
0.79	FSWFX	American Funds Smallcap	Pair Corr

Moving against Alps/red Mutual Fund

0.61	XNXJX	Nuveen New Jersey	Pair Corr
0.57	XDSMX	Dreyfus Strategic	Pair Corr

Related Correlations Analysis

	GURU	NORW	XYLG	HYDR	GAA	AMUU	WBIY	TSDD	FARFX	DSCF
GURU		-0.06	0.47	-0.41	-0.03	-0.24	0.15	-0.69	0.1	0.17	GURU
NORW	-0.06		0.79	0.14	0.98	-0.01	0.91	-0.17	0.94	0.86	NORW
XYLG	0.47	0.79		-0.07	0.82	-0.13	0.84	-0.5	0.89	0.85	XYLG
HYDR	-0.41	0.14	-0.07		0.11	0.76	-0.07	0.27	0.15	-0.17	HYDR
GAA	-0.03	0.98	0.82	0.11		-0.02	0.9	-0.18	0.95	0.89	GAA
AMUU	-0.24	-0.01	-0.13	0.76	-0.02		-0.3	0.15	-0.01	-0.19	AMUU
WBIY	0.15	0.91	0.84	-0.07	0.9	-0.3		-0.28	0.89	0.88	WBIY
TSDD	-0.69	-0.17	-0.5	0.27	-0.18	0.15	-0.28		-0.31	-0.41	TSDD
FARFX	0.1	0.94	0.89	0.15	0.95	-0.01	0.89	-0.31		0.86	FARFX
DSCF	0.17	0.86	0.85	-0.17	0.89	-0.19	0.88	-0.41	0.86		DSCF
	GURU	NORW	XYLG	HYDR	GAA	AMUU	WBIY	TSDD	FARFX	DSCF

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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

GAA	+ 0.98	NORW
FARFX	+ 0.95	GAA
FARFX	+ 0.94	NORW
WBIY	+ 0.91	NORW
WBIY	+ 0.9	GAA
FARFX	+ 0.89	XYLG

High negative correlations

TSDD	- 0.69	GURU
TSDD	- 0.5	XYLG
DSCF	- 0.41	TSDD
HYDR	- 0.41	GURU
FARFX	- 0.31	TSDD
WBIY	- 0.3	AMUU

Risk-Adjusted Indicators

There is a big difference between Alps/red Mutual Fund performing well and Alps/red Rocks 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/red Rocks' 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
GURU	0.73	(0.06)	(0.08)	0.01	0.82	(0.82)	1.44	(1.27)	3.74
NORW	0.76	0.31	0.27	(7.06)	0.37	(0.91)	1.63	(0.93)	3.79
XYLG	0.42	0.00	(0.05)	0.08	0.51	(0.43)	1.02	(0.94)	2.69
HYDR	2.25	(0.39)	0.00	(0.13)	0.00	0.00	3.84	(4.81)	11.97
GAA	0.46	0.15	0.12	(2.63)	0.27	(0.56)	0.98	(0.79)	2.61
AMUU	5.56	(0.70)	0.00	(0.14)	0.00	0.00	12.64	(12.07)	52.63
WBIY	0.72	0.17	0.21	0.33	0.40	(0.92)	1.92	(0.89)	4.05
TSDD	4.08	0.20	0.01	(0.17)	5.05	(4.23)	8.14	(7.97)	26.95
FARFX	0.25	0.05	(0.10)	0.92	0.19	(0.28)	0.54	(0.54)	1.36
DSCF	0.21	0.04	(0.19)	1.77	0.00	(0.25)	0.46	(0.33)	1.30

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