Stone Ridge Correlations

Mutual Funds . USA . 
Fund . Stone Ridge High
SHRMX Fund  USD 8.96  0.01  0.11%   
The current 90-days correlation between Stone Ridge High and Invesco Gold Special is 0.22 (i.e., Modest diversification). The correlation of Stone Ridge 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.

Stone Ridge Correlation With Market

Significant diversification

The correlation between Stone Ridge High and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stone Ridge High and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stone Ridge High. 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 board of governors.

Moving together with Stone Mutual Fund

  0.99SHRIX Stone Ridge HighPairCorr
  0.66SRDBX Stone Ridge DiversifiedPairCorr
  0.87LMSMX Western Asset SmashPairCorr
  0.9LMECX Western Asset SmashPairCorr
  0.91FXICX Fixed Income SharesPairCorr
  0.95BATAX Blackrock AllocationPairCorr
  0.79BRAMX Bats Series MPairCorr
  0.91GFSYX Strategic AlternativesPairCorr
  0.74DHLSX Diamond Hill LongPairCorr
  0.72PHSYX Putnam Global HealthPairCorr
  0.69IMBAX Voya Limited MaturityPairCorr
  0.87KHYCX Deutsche High IncomePairCorr
  0.74CPPCX American Funds PresePairCorr
  0.65LFRFX Floating RatePairCorr
  0.72ANTMX Nt International SmallPairCorr
  0.86EFRRX Eaton Vance FloatingPairCorr
  0.87SRCMX California MunicipalPairCorr
  0.63PPRSX Preferred SecuritiesPairCorr
  0.9CFOIX Calvert Floating RatePairCorr
  0.8BEMVX Advisors Inner CirclePairCorr
  0.73ECMOX Eaton Vance MissouriPairCorr
  0.75HGHAX The Hartford HealthcarePairCorr
  0.66FOBAX Balanced Fund InstitPairCorr
  0.81FDMLX Fidelity Series IntrinsicPairCorr
  0.86SAMVX Ridgeworth Ceredex MidPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Stone Mutual Fund performing well and Stone Ridge 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 Stone Ridge'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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