Riverpark Floating Correlations

RCRIX Fund

USD 8.88 0.00 0.00%

The current 90-days correlation between Riverpark Floating Rate and Riverpark Strategic Income is 0.15 (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

Very poor diversification

The correlation between Riverpark Floating Rate and DJI is 0.86 (i.e., Very poor 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

0.96	RPHIX	Riverpark Short Term	Pair Corr
0.96	RPHYX	Riverpark Short Term	Pair Corr
0.83	RPNIX	Riverpark/next Century	Pair Corr
0.82	RPNCX	Riverpark/next Century	Pair Corr
0.75	RPXFX	Riverpark Large Growth	Pair Corr
0.98	RSIIX	Riverpark Strategic	Pair Corr
0.98	RSIVX	Riverpark Strategic	Pair Corr
0.99	RCRFX	Riverpark Floating Rate	Pair Corr
0.88	RWGFX	Riverparkwedgewood	Pair Corr
0.77	RWGIX	Riverparkwedgewood	Pair Corr
0.93	AHTFX	American High Income	Pair Corr
0.93	AHTCX	American High Income	Pair Corr
0.93	AHITX	American High Income	Pair Corr
0.91	BHYCX	Blackrock Hi Yld	Pair Corr
0.9	BHYIX	Blackrock High Yield	Pair Corr
0.9	BHYSX	Blackrock Hi Yld	Pair Corr
0.91	BHYAX	Blackrock High Yield	Pair Corr
0.93	VWEHX	Vanguard High Yield	Pair Corr
0.93	VWEAX	Vanguard High Yield	Pair Corr
0.9	PHYEX	Pgim High Yield	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.76	VITSX	Vanguard Total Stock	Pair Corr
0.73	VFFSX	Vanguard 500 Index	Pair Corr
0.74	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.95	VTSNX	Vanguard Total Inter	Pair Corr
0.94	VTISX	Vanguard Total Inter	Pair Corr
0.95	VTPSX	Vanguard Total Inter	Pair Corr
0.74	VINIX	Vanguard Institutional	Pair Corr
0.92	EXMAX	Eaton Vance Short	Pair Corr
0.91	VGSTX	Vanguard Star	Pair Corr
0.74	ALBCX	Alger Growth Income	Pair Corr
0.93	FEGRX	First Eagle Global	Pair Corr

Moving against Riverpark Mutual Fund

0.46	RLSIX	Riverpark Long/short	Pair Corr
0.46	RLSFX	Riverpark Longshort	Pair Corr
0.42	RPNLX	Riverpark/next Century	Pair Corr

Related Correlations Analysis

	RPHIX	RPHYX	RPNRX	RPNIX	RPNCX	RPNLX	RPXIX	RPXFX	RSIIX	RSIVX
RPHIX		0.99	0.61	0.81	0.81	-0.25	-0.02	0.81	0.96	0.96	RPHIX
RPHYX	0.99		0.61	0.81	0.81	-0.25	-0.01	0.81	0.96	0.96	RPHYX
RPNRX	0.61	0.61		0.62	0.62	0.48	0.65	0.9	0.52	0.51	RPNRX
RPNIX	0.81	0.81	0.62		1.0	0.0	0.2	0.72	0.84	0.84	RPNIX
RPNCX	0.81	0.81	0.62	1.0		0.0	0.2	0.72	0.84	0.84	RPNCX
RPNLX	-0.25	-0.25	0.48	0.0	0.0		0.92	0.07	-0.37	-0.37	RPNLX
RPXIX	-0.02	-0.01	0.65	0.2	0.2	0.92		0.33	-0.13	-0.14	RPXIX
RPXFX	0.81	0.81	0.9	0.72	0.72	0.07	0.33		0.77	0.77	RPXFX
RSIIX	0.96	0.96	0.52	0.84	0.84	-0.37	-0.13	0.77		1.0	RSIIX
RSIVX	0.96	0.96	0.51	0.84	0.84	-0.37	-0.14	0.77	1.0		RSIVX
	RPHIX	RPHYX	RPNRX	RPNIX	RPNCX	RPNLX	RPXIX	RPXFX	RSIIX	RSIVX

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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

RPNCX	+ 1.0	RPNIX
RSIVX	+ 1.0	RSIIX
RPHYX	+ 0.99	RPHIX
RSIIX	+ 0.96	RPHIX
RSIVX	+ 0.96	RPHIX
RSIIX	+ 0.96	RPHYX

High negative correlations

RSIVX	- 0.37	RPNLX
RSIIX	- 0.37	RPNLX
RPNLX	- 0.25	RPHYX
RPNLX	- 0.25	RPHIX
RSIVX	- 0.14	RPXIX
RSIIX	- 0.13	RPXIX

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
RPHIX	0.03	0.01	0.00	1.70	0.00	0.00	0.10	0.00	0.21
RPHYX	0.03	0.01	0.00	4.13	0.00	0.00	0.11	0.00	0.21
RPNRX	0.97	(0.08)	(0.06)	0.00	1.39	(0.87)	2.32	(2.21)	6.23
RPNIX	1.31	0.03	0.03	0.11	1.59	(1.50)	2.46	(2.83)	7.06
RPNCX	1.30	0.02	0.03	0.11	1.58	(1.44)	2.47	(2.85)	6.94
RPNLX	0.95	(0.17)	0.00	(0.10)	0.00	0.00	1.76	(2.41)	5.59
RPXIX	0.65	(0.14)	0.00	(0.09)	0.00	0.00	1.24	(1.90)	4.37
RPXFX	0.77	0.03	0.00	0.13	0.93	(0.82)	1.30	(1.85)	12.15
RSIIX	0.06	0.02	(0.55)	0.50	0.00	(0.12)	0.12	(0.12)	0.36
RSIVX	0.07	0.01	(0.47)	0.46	0.00	(0.12)	0.12	(0.12)	0.47

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