Riverparknext Century Correlations

RPNCX Fund

11.33 0.08 0.70%

The current 90-days correlation between Riverparknext Century and Fidelity Sai Convertible is -0.12 (i.e., Good diversification). The correlation of Riverparknext Century 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.

Riverparknext Century Correlation With Market

Weak diversification

The correlation between Riverparknext Century Growth and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Riverparknext Century Growth 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 Riverparknext Century Growth. 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 main economic indicators.

Moving together with Riverparknext Mutual Fund

1.0	RPNIX	Riverparknext Century	Pair Corr
0.85	RPNLX	Riverparknext Century	Pair Corr
0.86	RLSIX	Riverpark Longshort	Pair Corr
0.86	RLSFX	Riverpark Longshort	Pair Corr
0.97	VSGAX	Vanguard Small Cap	Pair Corr
0.97	VSGIX	Vanguard Small Cap	Pair Corr
0.97	VISGX	Vanguard Small Cap	Pair Corr
0.8	AMLPX	Maingate Mlp	Pair Corr
0.83	ASCYX	Alger Funds	Pair Corr
0.63	NCLEX	Nicholas Edition	Pair Corr

Moving against Riverparknext Mutual Fund

0.77	UIPIX	Ultrashort Mid Cap	Pair Corr
0.74	USPSX	Profunds Ultrashort Steady Growth	Pair Corr
0.74	USPIX	Profunds Ultrashort Steady Growth	Pair Corr

Related Correlations Analysis

	FSAWX	XAVKX	GCV	NCIDX	VAADX
FSAWX		0.32	0.75	0.67	0.67	FSAWX
XAVKX	0.32		0.72	0.88	0.87	XAVKX
GCV	0.75	0.72		0.88	0.91	GCV
NCIDX	0.67	0.88	0.88		0.99	NCIDX
VAADX	0.67	0.87	0.91	0.99		VAADX
	FSAWX	XAVKX	GCV	NCIDX	VAADX

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Risk-Adjusted Indicators

There is a big difference between Riverparknext Mutual Fund performing well and Riverparknext Century 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 Riverparknext Century'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
FSAWX	0.08	0.03	(0.56)	3.49	0.00	(0.13)	0.19	(0.10)	0.38
XAVKX	0.47	0.04	(0.07)	0.75	0.62	(0.47)	0.90	(0.95)	3.14
GCV	0.99	0.10	0.03	0.32	1.16	(1.05)	1.89	(1.55)	5.96
NCIDX	0.48	0.06	(0.03)	1.52	0.55	(0.53)	1.03	(0.84)	3.30
VAADX	0.60	0.09	0.01	1.84	0.67	(0.69)	1.19	(0.97)	4.02

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