Newfound Risk Correlations
| NFDIXDelisted Fund | USD 10.53 0.00 0.00% |
The current 90-days correlation between Newfound Risk Managed and Hennessy Bp Energy is 0.11 (i.e., Average diversification). The correlation of Newfound Risk 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.
Newfound Risk Correlation With Market
Significant diversification
The correlation between Newfound Risk Managed and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newfound Risk Managed and DJI in the same portfolio, assuming nothing else is changed.
Newfound |
Moving together with Newfound Mutual Fund
| 0.9 | KSOCX | Kinetics Small Cap | PairCorr |
| 0.9 | KSCYX | Kinetics Small Cap | PairCorr |
| 0.9 | KNPCX | Kinetics Paradigm Steady Growth | PairCorr |
| 0.9 | WWNPX | Kinetics Paradigm Steady Growth | PairCorr |
| 0.65 | LETRX | Voya Russia Fund | PairCorr |
| 0.9 | KINAX | Kinetics Internet | PairCorr |
| 0.9 | KNPAX | Kinetics Paradigm Steady Growth | PairCorr |
| 0.9 | KSCOX | Kinetics Small Cap | PairCorr |
| 0.9 | LSHUX | Horizon Spin Off Steady Growth | PairCorr |
| 0.9 | KINCX | Kinetics Internet | PairCorr |
| 0.81 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.81 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.76 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.9 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.77 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.84 | DIS | Walt Disney Sell-off Trend | PairCorr |
Moving against Newfound Mutual Fund
| 0.71 | PAUPX | Pimco All Asset | PairCorr |
| 0.7 | PAUIX | Pimco All Asset | PairCorr |
| 0.54 | PASCX | All Asset Fund | PairCorr |
| 0.5 | PATRX | Pimco All Asset | PairCorr |
| 0.5 | PALPX | Pimco All Asset | PairCorr |
| 0.5 | PASAX | All Asset Fund | PairCorr |
| 0.49 | PAALX | All Asset Fund | PairCorr |
| 0.49 | PAANX | Pimco All Asset | PairCorr |
| 0.48 | PAAIX | All Asset Fund | PairCorr |
| 0.47 | ABRIX | Invesco Balanced Risk | PairCorr |
| 0.85 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.82 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.8 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.43 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Newfound Mutual Fund performing well and Newfound Risk 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 Newfound Risk'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HNRGX | 0.88 | 0.04 | 0.00 | 0.17 | 1.08 | 1.80 | 5.91 | |||
| ALTEX | 1.31 | (0.17) | 0.00 | (0.03) | 0.00 | 2.10 | 7.75 | |||
| IVEIX | 0.70 | (0.03) | (0.12) | 0.00 | 1.01 | 1.25 | 4.95 | |||
| APWEX | 0.88 | 0.07 | 0.05 | 0.20 | 1.00 | 1.83 | 5.85 | |||
| SBMBX | 0.73 | (0.08) | (0.11) | 0.00 | 1.10 | 1.34 | 3.99 | |||
| XGNTX | 0.54 | (0.06) | 0.00 | (0.06) | 0.00 | 1.23 | 3.30 | |||
| FIKAX | 0.94 | (0.04) | (0.05) | 0.07 | 1.33 | 2.07 | 5.82 |
Newfound Risk Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Newfound Risk mutual fund to make a market-neutral strategy. Peer analysis of Newfound Risk could also be used in its relative valuation, which is a method of valuing Newfound Risk by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Newfound Risk Managed?
Investing in delisted funds can be risky, as the mutual fund is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.