The Tocqueville Correlations

TIVFX Fund

USD 17.94 0.11 0.62%

The current 90-days correlation between Tocqueville Inte and The Tocqueville Fund is 0.79 (i.e., Poor diversification). The correlation of The Tocqueville 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.

The Tocqueville Correlation With Market

Very weak diversification

The correlation between The Tocqueville International and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Tocqueville International 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 The Tocqueville International. 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 census.

Moving together with The Mutual Fund

0.67	GHQIX	Amer Beacon Garcia	Pair Corr
0.69	GHQPX	Amer Beacon Garcia	Pair Corr
0.68	GHQRX	American Beacon Garcia	Pair Corr
0.7	GHQYX	Amer Beacon Garcia	Pair Corr
0.91	AAERX	American Beacon Intl	Pair Corr
0.84	AAIPX	American Beacon Inte	Pair Corr
0.91	AAIEX	American Beacon Inte	Pair Corr
0.91	AAISX	American Beacon Inte	Pair Corr

Moving against The Mutual Fund

0.52	SSIJX	American Beacon Ssi	Pair Corr
0.43	TFBRX	American Beacon Twen	Pair Corr
0.43	STMGX	American Beacon Stephens	Pair Corr
0.41	TFBYX	American Beacon Twen	Pair Corr
0.39	TFBAX	American Beacon Twen	Pair Corr
0.37	STSIX	American Beacon Stephens	Pair Corr
0.37	AADEX	American Beacon Large	Pair Corr
0.35	BRLVX	American Beacon Bridgeway	Pair Corr
0.35	TFBCX	American Beacon Twen	Pair Corr
0.46	ABCYX	American Beacon	Pair Corr
0.46	ABCRX	American Beacon	Pair Corr
0.46	ABCIX	American Beacon	Pair Corr
0.45	ABCAX	American Beacon	Pair Corr
0.45	ABCVX	American Beacon	Pair Corr
0.44	ABECX	American Beacon	Pair Corr
0.43	SFMRX	American Beacon Stephens	Pair Corr
0.43	SFMIX	American Beacon Stephens	Pair Corr
0.43	BWLIX	American Beacon Bridgeway	Pair Corr
0.37	AAGPX	American Beacon Large	Pair Corr
0.37	AALRX	American Beacon Large	Pair Corr
0.35	BWLYX	American Beacon Bridgeway	Pair Corr
0.35	BWLRX	American Beacon Bridgeway	Pair Corr
0.35	BWLAX	American Beacon Bridgeway	Pair Corr
0.34	BWLCX	American Beacon Bridgeway	Pair Corr
0.34	AASRX	American Beacon Small	Pair Corr

Related Correlations Analysis

	TOCQX	LZSMX	DREGX	UMEMX	OAKEX
TOCQX		-0.72	-0.01	0.48	-0.55	TOCQX
LZSMX	-0.72		0.5	-0.12	0.87	LZSMX
DREGX	-0.01	0.5		0.78	0.75	DREGX
UMEMX	0.48	-0.12	0.78		0.27	UMEMX
OAKEX	-0.55	0.87	0.75	0.27		OAKEX
	TOCQX	LZSMX	DREGX	UMEMX	OAKEX

Click cells to compare fundamentals

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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

OAKEX	+ 0.87	LZSMX
UMEMX	+ 0.78	DREGX
OAKEX	+ 0.75	DREGX
DREGX	+ 0.5	LZSMX
UMEMX	+ 0.48	TOCQX
OAKEX	+ 0.27	UMEMX

High negative correlations

LZSMX	- 0.72	TOCQX
OAKEX	- 0.55	TOCQX
UMEMX	- 0.12	LZSMX
DREGX	- 0.01	TOCQX

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Tocqueville 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 The Tocqueville'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
TOCQX	0.59	0.02	0.00	0.14	0.73	(0.63)	1.44	(1.02)	4.02
LZSMX	0.67	(0.22)	0.00	(0.29)	0.00	0.00	1.03	(1.56)	4.01
DREGX	0.64	(0.10)	0.00	(0.13)	0.00	0.00	1.53	(1.59)	4.01
UMEMX	0.77	(0.06)	(0.11)	0.01	0.97	(0.83)	1.53	(1.68)	5.20
OAKEX	0.63	(0.16)	0.00	(0.33)	0.00	0.00	1.52	(1.51)	4.46

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