Tortoise Mlp Correlations

NTG Fund

USD 57.53 1.49 2.66%

The current 90-days correlation between Tortoise Mlp Closed and Kayne Anderson Midstreamenergy is 0.1 (i.e., Average diversification). The correlation of Tortoise Mlp 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.

Tortoise Mlp Correlation With Market

Modest diversification

The correlation between Tortoise Mlp Closed and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tortoise Mlp Closed 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 Tortoise Mlp Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Tortoise Fund

0.85	VAAGX	Virtus Nfj Large	Pair Corr
0.91	AMONX	Aqr Large Cap	Pair Corr
0.91	RLSIX	Riverpark Long/short	Pair Corr
0.9	RGAGX	Growth Fund	Pair Corr
0.88	VVIAX	Vanguard Value Index	Pair Corr
0.8	SHYIX	Guggenheim High Yield	Pair Corr
0.91	DLCIX	Dana Large Cap	Pair Corr
0.78	GAB	Gabelli Equity Trust	Pair Corr
0.87	FBALX	Fidelity Balanced	Pair Corr
0.8	PRDSX	T Rowe Price	Pair Corr
0.95	ARDEX	Amg River Road	Pair Corr
0.85	XNDPX	Tortoise Energy Inde	Pair Corr
0.91	VSEQX	Vanguard Strategic Equity	Pair Corr
0.77	VTWAX	Vanguard Total World	Pair Corr
0.93	VMGRX	Vanguard Mid Cap	Pair Corr
0.96	EGLAX	Eagle Mlp Strategy	Pair Corr
0.93	VTCAX	Vanguard Telecommunicatio	Pair Corr
0.9	VFINX	Vanguard 500 Index	Pair Corr
0.92	LMISX	Qs Large Cap	Pair Corr
0.8	SCRYX	Small Cap Core	Pair Corr
0.89	VEIRX	Vanguard Equity Income	Pair Corr
0.91	PLVYX	Pace Large Value	Pair Corr
0.76	BITW	Bitwise 10 Crypto	Pair Corr
0.8	MGDNX	Mainstay Moderate Growth	Pair Corr
0.87	FCNTX	Fidelity Contrafund	Pair Corr

Moving against Tortoise Fund

0.66

PFHCX

Pacific Funds Small

Pair Corr

Related Correlations Analysis

	TPZ	KMF	TEAF	RMI	NDP	AHFCF	BLRZF	PYCFF	TYG	DTF
TPZ		0.57	0.27	0.06	0.94	0.59	-0.77	-0.68	0.88	0.55	TPZ
KMF	0.57		-0.45	-0.47	0.62	-0.1	-0.62	-0.13	0.28	0.3	KMF
TEAF	0.27	-0.45		0.75	0.18	0.76	-0.02	-0.66	0.57	0.21	TEAF
RMI	0.06	-0.47	0.75		0.09	0.62	0.31	-0.44	0.37	0.26	RMI
NDP	0.94	0.62	0.18	0.09		0.56	-0.69	-0.69	0.86	0.44	NDP
AHFCF	0.59	-0.1	0.76	0.62	0.56		-0.37	-0.71	0.81	0.35	AHFCF
BLRZF	-0.77	-0.62	-0.02	0.31	-0.69	-0.37		0.51	-0.62	-0.27	BLRZF
PYCFF	-0.68	-0.13	-0.66	-0.44	-0.69	-0.71	0.51		-0.84	-0.22	PYCFF
TYG	0.88	0.28	0.57	0.37	0.86	0.81	-0.62	-0.84		0.43	TYG
DTF	0.55	0.3	0.21	0.26	0.44	0.35	-0.27	-0.22	0.43		DTF
	TPZ	KMF	TEAF	RMI	NDP	AHFCF	BLRZF	PYCFF	TYG	DTF

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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

NDP	+ 0.94	TPZ
TYG	+ 0.88	TPZ
TYG	+ 0.86	NDP
TYG	+ 0.81	AHFCF
AHFCF	+ 0.76	TEAF
RMI	+ 0.75	TEAF

High negative correlations

TYG	- 0.84	PYCFF
BLRZF	- 0.77	TPZ
PYCFF	- 0.71	AHFCF
PYCFF	- 0.69	NDP
BLRZF	- 0.69	NDP
PYCFF	- 0.68	TPZ

Risk-Adjusted Indicators

There is a big difference between Tortoise Fund performing well and Tortoise Mlp 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 Tortoise Mlp'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
TPZ	0.66	0.16	0.14	0.36	0.61	(0.79)	1.62	(1.11)	5.55
KMF	0.89	0.01	(0.04)	0.10	1.18	(0.91)	1.75	(2.12)	4.61
TEAF	0.46	0.04	(0.05)	0.33	0.58	(0.48)	1.12	(1.02)	3.50
RMI	0.39	(0.04)	0.00	(7.74)	0.00	0.00	0.74	(1.01)	2.20
NDP	0.86	0.19	0.13	0.38	0.93	(0.95)	2.15	(1.82)	5.16
AHFCF	0.59	0.27	0.00	1.18	0.00	0.00	0.00	0.00	19.61
BLRZF	2.63	(1.23)	0.00	1.02	0.00	0.00	0.00	0.00	88.00
PYCFF	0.15	(0.07)	0.00	(15.38)	0.00	0.00	0.00	0.00	6.39
TYG	0.97	0.30	0.18	(1.84)	0.75	(1.07)	2.08	(1.44)	6.26
DTF	0.23	0.00	(0.27)	0.06	0.26	(0.28)	0.54	(0.36)	1.96

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