Easterly Snow Correlations

SNORX Fund

USD 33.92 0.17 0.50%

The current 90-days correlation between Easterly Snow Longshort and Easterly Snow Small is 0.81 (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

Poor diversification

The correlation between Easterly Snow Longshort and DJI is 0.7 (i.e., Poor 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

0.8	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.8	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.77	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.78	GTENX	Gateway Fund Class	Pair Corr
0.78	GTECX	Gateway Fund Class	Pair Corr
0.78	GTEYX	Gateway Fund Class	Pair Corr
0.78	GATEX	Gateway Fund Class	Pair Corr
0.77	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.78	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.81	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.72	XNKGX	Nuveen Georgia Quality	Pair Corr
0.67	PCF	Putnam High Income	Pair Corr
0.77	FSUTX	Utilities Portfolio	Pair Corr
0.76	ACP	Aberdeen Income Credit	Pair Corr
0.8	CLM	Cornerstone Strategic	Pair Corr
0.76	FZROX	Fidelity Zero Total	Pair Corr
0.76	ELFNX	Elfun Trusts Elfun	Pair Corr
0.76	AMGOX	Alger Mid Cap	Pair Corr
0.7	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.9	FIVUX	First Investors Oppo	Pair Corr
0.8	GVCAX	Gabelli Value	Pair Corr
0.76	VFINX	Vanguard 500 Index	Pair Corr
0.78	AMECX	Income Fund	Pair Corr
0.63	RGGEX	American Funds Global	Pair Corr

Moving against Easterly Mutual Fund

0.57	XNXJX	Nuveen New Jersey	Pair Corr
0.49	NXJ	Nuveen New Jersey	Pair Corr
0.57	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

	SNORX	SNWRX	VWNEX	PDI	FMAGX	GAB	MLUFX	VAADX	KNPAX	PGAIX
SNORX		0.89	0.82	0.01	0.84	0.64	0.79	0.76	0.84	0.51	SNORX
SNWRX	0.89		0.93	-0.14	0.86	0.86	0.93	0.93	0.93	0.67	SNWRX
VWNEX	0.82	0.93		-0.12	0.89	0.88	0.99	0.94	0.92	0.72	VWNEX
PDI	0.01	-0.14	-0.12		0.04	-0.21	-0.16	-0.22	-0.27	0.27	PDI
FMAGX	0.84	0.86	0.89	0.04		0.69	0.85	0.8	0.81	0.69	FMAGX
GAB	0.64	0.86	0.88	-0.21	0.69		0.92	0.94	0.83	0.74	GAB
MLUFX	0.79	0.93	0.99	-0.16	0.85	0.92		0.94	0.91	0.7	MLUFX
VAADX	0.76	0.93	0.94	-0.22	0.8	0.94	0.94		0.94	0.69	VAADX
KNPAX	0.84	0.93	0.92	-0.27	0.81	0.83	0.91	0.94		0.5	KNPAX
PGAIX	0.51	0.67	0.72	0.27	0.69	0.74	0.7	0.69	0.5		PGAIX
	SNORX	SNWRX	VWNEX	PDI	FMAGX	GAB	MLUFX	VAADX	KNPAX	PGAIX

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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

MLUFX	+ 0.99	VWNEX
VAADX	+ 0.94	VWNEX
VAADX	+ 0.94	GAB
VAADX	+ 0.94	MLUFX
KNPAX	+ 0.94	VAADX
VWNEX	+ 0.93	SNWRX

High negative correlations

KNPAX	- 0.27	PDI
VAADX	- 0.22	PDI
GAB	- 0.21	PDI
MLUFX	- 0.16	PDI
PDI	- 0.14	SNWRX
PDI	- 0.12	VWNEX

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	0.60	(0.06)	(0.07)	0.05	0.88	(0.67)	1.29	(1.00)	7.91
SNWRX	0.91	(0.02)	0.06	0.10	0.74	(1.08)	2.03	(1.45)	9.39
VWNEX	0.53	0.08	(0.06)	2.35	0.33	(0.67)	1.07	(0.68)	3.76
PDI	0.52	0.01	(0.06)	0.16	1.06	(0.48)	0.99	(1.35)	5.57
FMAGX	0.65	0.08	(0.01)	0.48	0.87	(0.65)	1.40	(1.48)	5.39
GAB	0.57	0.03	(0.01)	0.16	0.66	(0.61)	1.12	(1.25)	3.28
MLUFX	0.52	0.06	(0.07)	0.56	0.38	(0.64)	1.10	(0.78)	3.18
VAADX	0.45	0.12	0.13	0.33	0.00	(0.57)	1.09	(0.84)	2.61
KNPAX	1.77	0.55	0.18	0.65	2.23	(1.88)	3.90	(3.59)	19.40
PGAIX	0.30	0.03	(0.13)	0.21	0.11	(0.38)	0.74	(0.54)	2.04

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