Multi-strategy Income Correlations

Mutual Funds . USA . 
Fund . Multi Strategy Income Fund
RMYYX Fund  USD 10.57  0.08  0.76%   
The current 90-days correlation between Multi Strategy Income and Gmo High Yield is 0.58 (i.e., Very weak diversification). The correlation of Multi-strategy Income 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.

Multi-strategy Income Correlation With Market

Almost no diversification

The correlation between Multi Strategy Income Fund and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Strategy Income Fund 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 Multi Strategy Income Fund. 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 producer price index.

Moving together with Multi-strategy Mutual Fund

  0.87RRESX Global Real EstatePairCorr
  0.87RRSRX Global Real EstatePairCorr
  0.69RALAX Growth StrategyPairCorr
  0.9RALCX Growth StrategyPairCorr
  0.91RALSX Growth StrategyPairCorr
  0.91RALRX Growth StrategyPairCorr
  0.91RALVX Growth StrategyPairCorr
  0.73RSBRX Strategic BondPairCorr
  0.89RSBTX Short Duration BondPairCorr
  0.87RSBYX Short Duration BondPairCorr
  0.94RSCRX Us Small CapPairCorr
  0.84RSBCX Short Duration BondPairCorr
  0.84RSECX Us Strategic EquityPairCorr
  0.85RSEAX Us Strategic EquityPairCorr
  0.85RSESX Us Strategic EquityPairCorr
  0.89RSDTX Short Duration BondPairCorr
  0.96RAZAX Multi Asset GrowthPairCorr
  0.98RAZCX Multi Asset GrowthPairCorr
  0.91RSQAX Us E EquityPairCorr
  0.94RBCUX Tax Exempt BondPairCorr
  0.93RBLCX Balanced StrategyPairCorr
  0.93RBLAX Balanced StrategyPairCorr
  0.93RBLSX Balanced StrategyPairCorr
  0.93RBLVX Balanced StrategyPairCorr
  0.93RBLRX Balanced StrategyPairCorr
  0.84RTDAX Multifactor EquityPairCorr
  0.84RTDCX Multifactor EquityPairCorr
  0.85RTDYX Select EquityPairCorr
  0.85RTDSX Select EquityPairCorr
  0.85RTDRX Select EquityPairCorr
  0.85RTDTX Select EquityPairCorr
  0.91RTEAX Tax Exempt BondPairCorr
  0.9RTECX Tax Exempt BondPairCorr
  0.71RTHAX Tax Exempt HighPairCorr
  0.74RTHSX Tax Exempt HighPairCorr
  0.99RTISX Select InternationalPairCorr
  0.99RTIRX Select InternationalPairCorr
  0.99RTIYX Select InternationalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Multi-strategy Mutual Fund performing well and Multi-strategy Income 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 Multi-strategy Income'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.

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