Alps/red Rocks Correlations

LPFCX Fund

USD 4.19 0.07 1.64%

The current 90-days correlation between Alpsred Rocks Listed and T Rowe Price is 0.7 (i.e., Poor 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

Significant diversification

The correlation between Alpsred Rocks Listed and DJI is 0.05 (i.e., Significant 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 unemployment.

Moving together with Alps/red Mutual Fund

1.0	AVPEX	Alpsred Rocks Listed	Pair Corr
1.0	LPEIX	Alpsred Rocks Listed	Pair Corr
1.0	LPERX	Alpsred Rocks Listed	Pair Corr
0.78	LPFAX	Alpsred Rocks Listed	Pair Corr

Moving against Alps/red Mutual Fund

0.73	SMCHX	Alpssmith Total Return	Pair Corr
0.66	SMAMX	Alpssmith Total Return	Pair Corr
0.66	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.62	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.6	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.58	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.46	SMCMX	Alpssmith Short Duration	Pair Corr
0.33	JCCSX	Alps/corecommodity	Pair Corr
0.33	JCRAX	Alps/corecommodity	Pair Corr
0.33	JCRIX	Alps/corecommodity	Pair Corr
0.32	JCRCX	Alps/corecommodity	Pair Corr
0.68	SMTRX	Alpssmith Total Return	Pair Corr
0.67	SMTHX	Alpssmith Total Return	Pair Corr
0.47	SMRSX	Alpssmith Short Duration	Pair Corr
0.46	NHS	Neuberger Berman High	Pair Corr
0.43	SMDSX	Alpssmith Short Duration	Pair Corr
0.43	THOPX	Thompson Bond	Pair Corr
0.34	RLGAX	Riverfront Dynamic Equity	Pair Corr

Related Correlations Analysis

	AMONX	JDVNX	PLAAX	RHSAX	SEGIX	LSAAX	TADGX
AMONX		0.89	0.93	0.9	0.84	0.81	0.68	AMONX
JDVNX	0.89		0.76	0.8	0.92	0.96	0.88	JDVNX
PLAAX	0.93	0.76		0.88	0.72	0.66	0.5	PLAAX
RHSAX	0.9	0.8	0.88		0.77	0.78	0.59	RHSAX
SEGIX	0.84	0.92	0.72	0.77		0.89	0.78	SEGIX
LSAAX	0.81	0.96	0.66	0.78	0.89		0.89	LSAAX
TADGX	0.68	0.88	0.5	0.59	0.78	0.89		TADGX
	AMONX	JDVNX	PLAAX	RHSAX	SEGIX	LSAAX	TADGX

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
AMONX	1.22	0.56	0.51	1.42	0.00	(1.63)	1.42	(1.67)	33.19
JDVNX	0.71	0.20	0.23	0.29	0.36	(0.84)	1.47	(1.25)	8.76
PLAAX	1.25	0.47	0.40	7.79	0.41	(1.61)	1.43	(1.48)	37.01
RHSAX	1.28	0.15	0.12	0.18	1.35	(1.55)	3.20	(2.54)	16.01
SEGIX	0.81	0.32	0.46	0.59	0.00	(1.06)	1.11	(0.93)	20.56
LSAAX	0.42	0.05	0.02	0.17	0.37	(0.50)	0.86	(0.94)	2.85
TADGX	0.46	0.06	0.05	0.16	0.43	(0.51)	0.92	(0.86)	3.17

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