Riverpark Floating Correlations

RCRIX Fund

USD 8.87 0.01 0.11%

The current 90-days correlation between Riverpark Floating Rate and Fidelity Advisor Energy is 0.14 (i.e., Average diversification). The correlation of Riverpark Floating 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.

Riverpark Floating Correlation With Market

Good diversification

The correlation between Riverpark Floating Rate and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Riverpark Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Riverpark Floating Rate. 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 gross domestic product.

Moving together with Riverpark Mutual Fund

0.98	RPHIX	Riverpark Short Term	Pair Corr
0.98	RPHYX	Riverpark Short Term	Pair Corr
0.9	RPNRX	Riverpark/next Century	Pair Corr
0.75	RPNIX	Riverpark/next Century	Pair Corr
0.72	RPNCX	Riverpark/next Century	Pair Corr
0.9	RPNLX	Riverpark/next Century	Pair Corr
0.93	RPXIX	Riverpark Large Growth	Pair Corr
0.94	RPXFX	Riverpark Large Growth	Pair Corr
0.97	RSIIX	Riverpark Strategic	Pair Corr
0.97	RSIVX	Riverpark Strategic	Pair Corr
1.0	RCRFX	Riverpark Floating Rate	Pair Corr
0.94	RWGFX	Riverpark/wedgewood	Pair Corr
0.94	RWGIX	Riverpark/wedgewood	Pair Corr
0.93	RLSIX	Riverpark Long/short	Pair Corr
0.93	RLSFX	Riverpark Long/short	Pair Corr
0.78	BHYCX	Blackrock Hi Yld	Pair Corr
0.82	BHYIX	Blackrock High Yield	Pair Corr
0.81	BHYSX	Blackrock Hi Yld	Pair Corr
0.82	BHYAX	Blackrock High Yield	Pair Corr
0.88	FAHHX	American Funds American	Pair Corr
0.89	FTAHX	American Funds American	Pair Corr
0.87	AHTFX	American High Income	Pair Corr
0.84	AHTCX	American High Income	Pair Corr
0.61	COGVX	Cognios Large Cap	Pair Corr
0.82	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.82	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.87	NAESX	Vanguard Small Cap	Pair Corr
0.92	SDGTX	Deutsche Capital Growth	Pair Corr
0.91	THOPX	Thompson Bond	Pair Corr
0.86	TRLCX	Tiaa-cref Large-cap	Pair Corr

Moving against Riverpark Mutual Fund

0.64	BTMPX	Ishares Msci Eafe	Pair Corr
0.64	BTMKX	Blackrock International	Pair Corr
0.64	MDIIX	Blackrock Intern Index	Pair Corr
0.54	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	FIKAX	ALTEX	GAMPX	ICBAX	FRNRX	GAAEX	ALEFX
FIKAX		-0.03	0.65	0.68	0.92	-0.16	0.63	FIKAX
ALTEX	-0.03		-0.49	-0.11	0.12	0.9	-0.5	ALTEX
GAMPX	0.65	-0.49		0.87	0.64	-0.52	0.99	GAMPX
ICBAX	0.68	-0.11	0.87		0.73	-0.21	0.88	ICBAX
FRNRX	0.92	0.12	0.64	0.73		0.08	0.62	FRNRX
GAAEX	-0.16	0.9	-0.52	-0.21	0.08		-0.52	GAAEX
ALEFX	0.63	-0.5	0.99	0.88	0.62	-0.52		ALEFX
	FIKAX	ALTEX	GAMPX	ICBAX	FRNRX	GAAEX	ALEFX

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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

ALEFX	+ 0.99	GAMPX
FRNRX	+ 0.92	FIKAX
GAAEX	+ 0.9	ALTEX
ALEFX	+ 0.88	ICBAX
ICBAX	+ 0.87	GAMPX
FRNRX	+ 0.73	ICBAX

High negative correlations

ALEFX	- 0.52	GAAEX
GAAEX	- 0.52	GAMPX
ALEFX	- 0.5	ALTEX
GAMPX	- 0.49	ALTEX
GAAEX	- 0.21	ICBAX
GAAEX	- 0.16	FIKAX

Risk-Adjusted Indicators

There is a big difference between Riverpark Mutual Fund performing well and Riverpark Floating 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 Riverpark Floating'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
FIKAX	0.97	0.03	(0.06)	0.71	1.36	(0.91)	2.07	(2.13)	5.82
ALTEX	1.32	(0.21)	0.00	(0.08)	0.00	0.00	2.10	(2.74)	7.75
GAMPX	0.73	0.28	0.21	(18.59)	0.35	(0.97)	1.83	(0.89)	4.89
ICBAX	0.80	(0.01)	0.01	0.11	0.76	(0.92)	1.49	(1.24)	6.37
FRNRX	0.77	0.03	(0.07)	2.44	1.08	(0.77)	1.58	(1.79)	4.33
GAAEX	1.00	(0.13)	0.00	(0.10)	0.00	0.00	1.93	(2.35)	5.59
ALEFX	0.65	0.20	0.18	0.63	0.32	(0.84)	1.37	(0.77)	4.42

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