Riverpark Long/short Correlations

RLSFX Fund

USD 14.10 0.02 0.14%

The current 90-days correlation between Riverpark Long/short and Riverpark Longshort Opportunity is 1.0 (i.e., No risk reduction). The correlation of Riverpark Long/short 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 Long/short Correlation With Market

Very weak diversification

The correlation between Riverpark Longshort Opportunit and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Riverpark Longshort Opportunit 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 Longshort Opportunity. 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 census.

Moving together with Riverpark Mutual Fund

0.93	RPHIX	Riverpark Short Term	Pair Corr
0.89	RPHYX	Riverpark Short Term	Pair Corr
0.98	RPNRX	Riverpark/next Century	Pair Corr
0.86	RPNIX	Riverpark/next Century	Pair Corr
0.86	RPNCX	Riverpark/next Century	Pair Corr
0.98	RPNLX	Riverpark/next Century	Pair Corr
0.97	RPXIX	Riverpark Large Growth	Pair Corr
1.0	RPXFX	Riverpark Large Growth	Pair Corr
0.94	RSIIX	Riverpark Strategic	Pair Corr
0.93	RSIVX	Riverpark Strategic	Pair Corr
0.91	RCRFX	Riverpark Floating Rate	Pair Corr
0.92	RCRIX	Riverpark Floating Rate	Pair Corr
0.97	RWGFX	Riverparkwedgewood	Pair Corr
0.98	RWGIX	Riverparkwedgewood	Pair Corr
1.0	RLSIX	Riverpark Long/short	Pair Corr
0.9	NLSCX	Neuberger Berman Long	Pair Corr
0.92	NLSAX	Neuberger Berman Long	Pair Corr
0.92	NLSIX	Neuberger Berman Long	Pair Corr
0.87	QLERX	Aqr Long Short	Pair Corr
0.98	ASLAX	Ab Select Longshort	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.95	VFIAX	Vanguard 500 Index	Pair Corr
0.98	VTSMX	Vanguard Total Stock	Pair Corr
0.98	VSMPX	Vanguard Total Stock	Pair Corr
0.98	VSTSX	Vanguard Total Stock	Pair Corr
0.95	VITSX	Vanguard Total Stock	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.98	VFFSX	Vanguard 500 Index	Pair Corr
0.93	TIGGX	Goldman Sachs Tax	Pair Corr
0.94	HFMIX	Hartford Midcap	Pair Corr
0.97	VMGRX	Vanguard Mid Cap	Pair Corr

Related Correlations Analysis

	RLSIX	ABRTX	SPEDX	BGAFX	BIVRX
RLSIX		0.9	0.96	0.94	-0.59	RLSIX
ABRTX	0.9		0.86	0.85	-0.75	ABRTX
SPEDX	0.96	0.86		0.93	-0.51	SPEDX
BGAFX	0.94	0.85	0.93		-0.52	BGAFX
BIVRX	-0.59	-0.75	-0.51	-0.52		BIVRX
	RLSIX	ABRTX	SPEDX	BGAFX	BIVRX

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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

SPEDX	+ 0.96	RLSIX
BGAFX	+ 0.94	RLSIX
BGAFX	+ 0.93	SPEDX
ABRTX	+ 0.9	RLSIX
SPEDX	+ 0.86	ABRTX
BGAFX	+ 0.85	ABRTX

High negative correlations

BIVRX	- 0.75	ABRTX
BIVRX	- 0.59	RLSIX
BIVRX	- 0.52	BGAFX
BIVRX	- 0.51	SPEDX

Risk-Adjusted Indicators

There is a big difference between Riverpark Mutual Fund performing well and Riverpark Long/short 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 Long/short'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
RLSIX	0.49	0.03	(0.02)	0.18	0.58	(0.49)	1.26	(1.37)	3.09
ABRTX	0.44	(0.04)	(0.11)	0.07	0.59	(0.46)	0.81	(0.91)	3.11
SPEDX	0.53	0.05	0.01	0.20	0.63	(0.56)	1.28	(1.02)	3.12
BGAFX	0.86	0.15	0.02	(5.22)	1.15	(0.84)	2.12	(1.96)	4.69
BIVRX	0.50	(0.03)	0.00	0.42	0.00	0.00	0.81	(1.07)	3.01

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