Easterly Snow Correlations

SNORX Fund

USD 34.12 0.24 0.71%

The current 90-days correlation between Easterly Snow Longshort and Easterly Snow Small is 0.85 (i.e., Very poor diversification). The correlation of Easterly Snow 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.

Easterly Snow Correlation With Market

Modest diversification

The correlation between Easterly Snow Longshort and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Easterly Snow Longshort 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 Easterly Snow Longshort. 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 metropolitan statistical area.

Moving together with Easterly Mutual Fund

0.86	SNWRX	Easterly Snow Small	Pair Corr
0.76	MLPSX	Mid Cap Value	Pair Corr
0.8	NBMOX	Neuberger Berman Small	Pair Corr

Moving against Easterly Mutual Fund

0.48	COGVX	Cognios Large Cap	Pair Corr
0.49	GEIUX	Goldman Sachs Enhanced	Pair Corr
0.34	FBGRX	Fidelity Blue Chip	Pair Corr
0.75	ACTVX	Zero Pon 2025	Pair Corr
0.51	PNDIX	Pender Real Estate	Pair Corr
0.41	LOLDX	Lord Abbett Short	Pair Corr
0.38	HGOTX	Hartford Growth Oppo	Pair Corr

Related Correlations Analysis

	SNORX	SNWRX	WSHNX	FCECX	JAAIX	VLISX	VFIAX	FSPGX	PHPDX	SJCRX
SNORX		0.86	-0.35	0.23	0.11	0.12	0.14	-0.36	0.23	0.24	SNORX
SNWRX	0.86		-0.12	0.62	0.35	0.48	0.5	0.04	0.57	0.61	SNWRX
WSHNX	-0.35	-0.12		0.45	0.76	0.61	0.58	0.75	0.26	0.53	WSHNX
FCECX	0.23	0.62	0.45		0.69	0.85	0.85	0.68	0.85	0.93	FCECX
JAAIX	0.11	0.35	0.76	0.69		0.87	0.86	0.76	0.55	0.79	JAAIX
VLISX	0.12	0.48	0.61	0.85	0.87		1.0	0.87	0.76	0.95	VLISX
VFIAX	0.14	0.5	0.58	0.85	0.86	1.0		0.86	0.77	0.95	VFIAX
FSPGX	-0.36	0.04	0.75	0.68	0.76	0.87	0.86		0.58	0.77	FSPGX
PHPDX	0.23	0.57	0.26	0.85	0.55	0.76	0.77	0.58		0.84	PHPDX
SJCRX	0.24	0.61	0.53	0.93	0.79	0.95	0.95	0.77	0.84		SJCRX
	SNORX	SNWRX	WSHNX	FCECX	JAAIX	VLISX	VFIAX	FSPGX	PHPDX	SJCRX

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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

VFIAX	+ 1.0	VLISX
SJCRX	+ 0.95	VLISX
SJCRX	+ 0.95	VFIAX
SJCRX	+ 0.93	FCECX
VLISX	+ 0.87	JAAIX
FSPGX	+ 0.87	VLISX

High negative correlations

FSPGX	- 0.36	SNORX
WSHNX	- 0.35	SNORX
WSHNX	- 0.12	SNWRX

Risk-Adjusted Indicators

There is a big difference between Easterly Mutual Fund performing well and Easterly Snow 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 Easterly Snow'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
SNORX	0.61	(0.04)	0.00	(0.07)	0.00	0.00	1.02	(1.02)	6.48
SNWRX	0.91	(0.01)	(0.05)	0.07	1.13	(1.08)	1.75	(1.65)	12.54
WSHNX	0.07	0.00	(0.68)	0.30	0.00	(0.17)	0.25	(0.08)	0.76
FCECX	1.00	0.10	0.02	0.34	1.69	(0.98)	2.12	(1.87)	9.50
JAAIX	0.16	0.01	(0.28)	0.22	0.12	(0.21)	0.31	(0.31)	1.13
VLISX	0.63	0.04	(0.02)	0.20	0.86	(0.60)	1.24	(1.48)	5.59
VFIAX	0.61	0.03	(0.03)	0.18	0.85	(0.59)	1.23	(1.46)	5.48
FSPGX	0.89	0.08	0.02	0.32	1.17	(0.91)	1.71	(2.12)	6.00
PHPDX	0.52	0.02	(0.07)	1.09	0.79	(0.51)	1.05	(1.41)	4.15
SJCRX	0.63	0.05	(0.01)	0.22	0.77	(0.79)	1.70	(1.29)	5.74

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