Rivernorth Opportunistic Correlations

RMI Fund

USD 15.66 0.04 0.25%

The current 90-days correlation between Rivernorth Opportunistic and MFS Investment Grade is 0.21 (i.e., Modest diversification). The correlation of Rivernorth Opportunistic 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.

Rivernorth Opportunistic Correlation With Market

Modest diversification

The correlation between Rivernorth Opportunistic Munic and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rivernorth Opportunistic Munic 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 Rivernorth Opportunistic Municipalome. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Rivernorth Fund

0.62	AFTEX	Tax Exempt Bond	Pair Corr
0.63	AFTFX	Tax Exempt Bond	Pair Corr
0.64	TEBCX	Tax Exempt Bond	Pair Corr
0.62	TEAFX	Tax Exempt Bond	Pair Corr
0.61	TFEBX	Tax Exempt Bond	Pair Corr
0.78	DNP	Dnp Select Income	Pair Corr
0.74	FIRFX	Fidelity Income Repl	Pair Corr
0.68	HFQCX	Henderson Global Equity	Pair Corr
0.62	RBENX	American Funds 2060	Pair Corr
0.67	CLIRX	Columbia Capital All	Pair Corr
0.66	TLYRX	Tiaa Cref Lifecycle	Pair Corr
0.61	QUACX	Ab Small Cap	Pair Corr
0.66	AAAJX	American Century One	Pair Corr

Moving against Rivernorth Fund

0.34

BXSL

Blackstone Secured

Pair Corr

Related Correlations Analysis

	CXH	JPT	RMM	MHN	CBH	IHTA	EOT	FMN	NXC
CXH		-0.48	0.82	0.85	-0.25	-0.4	0.65	0.73	0.27	CXH
JPT	-0.48		-0.62	-0.58	0.56	0.47	-0.54	-0.36	-0.5	JPT
RMM	0.82	-0.62		0.88	-0.53	-0.64	0.85	0.86	0.58	RMM
MHN	0.85	-0.58	0.88		-0.45	-0.57	0.8	0.83	0.54	MHN
CBH	-0.25	0.56	-0.53	-0.45		0.93	-0.76	-0.46	-0.8	CBH
IHTA	-0.4	0.47	-0.64	-0.57	0.93		-0.86	-0.65	-0.79	IHTA
EOT	0.65	-0.54	0.85	0.8	-0.76	-0.86		0.86	0.82	EOT
FMN	0.73	-0.36	0.86	0.83	-0.46	-0.65	0.86		0.61	FMN
NXC	0.27	-0.5	0.58	0.54	-0.8	-0.79	0.82	0.61		NXC
	CXH	JPT	RMM	MHN	CBH	IHTA	EOT	FMN	NXC

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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

IHTA	+ 0.93	CBH
MHN	+ 0.88	RMM
FMN	+ 0.86	RMM
FMN	+ 0.86	EOT
MHN	+ 0.85	CXH
EOT	+ 0.85	RMM

High negative correlations

EOT	- 0.86	IHTA
NXC	- 0.8	CBH
NXC	- 0.79	IHTA
EOT	- 0.76	CBH
FMN	- 0.65	IHTA
IHTA	- 0.64	RMM

Risk-Adjusted Indicators

There is a big difference between Rivernorth Fund performing well and Rivernorth Opportunistic 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 Rivernorth Opportunistic'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
CXH	0.41	0.01	(0.08)	0.38	0.66	(0.39)	0.76	(1.01)	3.18
JPT	0.62	0.02	(0.05)	(0.05)	1.04	(0.57)	1.33	(1.82)	4.64
RMM	0.55	(0.05)	0.00	(10.98)	0.00	0.00	1.11	(1.34)	3.31
MHN	0.48	(0.04)	0.00	(0.27)	0.00	0.00	0.93	(1.13)	2.69
CBH	0.13	0.04	(0.15)	2.68	0.00	(0.18)	0.22	(0.22)	0.78
IHTA	0.23	0.05	(0.05)	(0.65)	0.25	(0.31)	0.68	(0.27)	2.03
EOT	0.46	(0.07)	0.00	(0.60)	0.00	0.00	0.87	(1.01)	2.88
FMN	0.49	(0.05)	0.00	(0.17)	0.00	0.00	1.07	(1.09)	2.60
NXC	0.43	(0.06)	0.00	(0.26)	0.00	0.00	0.82	(0.97)	3.97

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