Multi-strategy Income Correlations

Mutual Funds . USA . 
Fund . Multi Strategy Income Fund
RMYYX Fund  USD 10.36  0.03  0.29%   
The current 90-days correlation between Multi Strategy Income and International Developed Markets is 0.51 (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

Poor diversification

The correlation between Multi Strategy Income Fund and DJI is 0.76 (i.e., Poor 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 manufacturing.

Moving together with Multi-strategy Mutual Fund

  0.93RNTTX International DevelopedPairCorr
  0.89RALAX Growth StrategyPairCorr
  0.9RALCX Growth StrategyPairCorr
  0.91RALSX Growth StrategyPairCorr
  0.91RALRX Growth StrategyPairCorr
  0.89RALVX Growth StrategyPairCorr
  0.62RSBRX Strategic BondPairCorr
  0.93RSBTX Short Duration BondPairCorr
  0.93RSBYX Short Duration BondPairCorr
  0.95RSCRX Us Small CapPairCorr
  0.93RSBCX Short Duration BondPairCorr
  0.89RSECX Us Strategic EquityPairCorr
  0.88RSEAX Us Strategic EquityPairCorr
  0.89RSESX Us Strategic EquityPairCorr
  0.93RSDTX Short Duration BondPairCorr
  0.94RAZAX Multi Asset GrowthPairCorr
  0.93RAZCX Multi Asset GrowthPairCorr
  0.9RSQAX Us E EquityPairCorr
  0.88RBCUX Tax Exempt BondPairCorr
  0.62RSYTX Strategic BondPairCorr
  0.93RBLCX Balanced StrategyPairCorr
  0.92RBLAX Balanced StrategyPairCorr
  0.93RBLSX Balanced StrategyPairCorr
  0.93RBLVX Balanced StrategyPairCorr
  0.92RBLRX Balanced StrategyPairCorr
  0.85RTDAX Multifactor EquityPairCorr
  0.85RTDCX Multifactor EquityPairCorr
  0.85RTDYX Select EquityPairCorr
  0.85RTDSX Select EquityPairCorr
  0.85RTDRX Select EquityPairCorr
  0.85RTDTX Select EquityPairCorr
  0.83RTEAX Tax Exempt BondPairCorr
  0.82RTECX Tax Exempt BondPairCorr
  0.61RTHAX Tax Exempt HighPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNTTX  0.57  0.16  0.18  0.40  0.18 
(0.72)
 1.07 
(1.05)
 6.71 
RREAX  0.43  0.03 (0.09) 0.34  0.62 
(0.44)
 0.88 
(1.06)
 2.98 
RREYX  0.43  0.02 (0.06) 0.18  0.56 
(0.45)
 0.88 
(1.05)
 3.00 
RRESX  0.42  0.02 (0.06) 0.18  0.56 
(0.43)
 0.88 
(1.05)
 3.00 
RRSCX  0.43  0.03 (0.10) 0.35  0.63 
(0.43)
 0.86 
(1.05)
 3.01 
RRSRX  0.42  0.02 (0.06) 0.18  0.55 
(0.43)
 0.88 
(1.05)
 3.03 
RALAX  0.62  0.19  0.17  0.89  0.20 
(0.75)
 0.97 
(0.86)
 11.71 
RALCX  0.62  0.19  0.29  0.37  0.00 
(0.85)
 0.96 
(0.77)
 13.01 
RALSX  0.59  0.17  0.23  0.35  0.00 
(0.75)
 1.00 
(0.83)
 11.47 
RALRX  0.59  0.17  0.24  0.36  0.00 
(0.78)
 1.01 
(0.75)
 11.35 

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