Counterpoint Tactical Correlations

Mutual Funds . USA . 
Fund . Counterpoint Tactical Municipal
TMNIX Fund  USD 10.95  0.02  0.18%   
The current 90-days correlation between Counterpoint Tactical and Pgim Jennison Technology is -0.1 (i.e., Good diversification). The correlation of Counterpoint Tactical 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.

Counterpoint Tactical Correlation With Market

Modest diversification

The correlation between Counterpoint Tactical Municipa and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Counterpoint Tactical Municipa 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 Counterpoint Tactical Municipal. 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 gross domestic product.

Moving together with Counterpoint Mutual Fund

  0.99TMNCX Counterpoint TacticalPairCorr
  1.0TMNAX Counterpoint TacticalPairCorr
  0.96ABHFX American High IncomePairCorr
  0.98AHICX American High IncomePairCorr
  0.96AMHIX American High IncomePairCorr
  0.99GHYCX Goldman Sachs HighPairCorr
  0.98GHYAX Goldman Sachs HighPairCorr
  0.96ACTDX Invesco High YieldPairCorr
  0.96XDSMX Dreyfus StrategicPairCorr
  0.78XNXJX Nuveen New JerseyPairCorr
  0.78NXJ Nuveen New JerseyPairCorr
  0.79XNBHX Neuberger Berman IntPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Counterpoint Mutual Fund performing well and Counterpoint Tactical 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 Counterpoint Tactical'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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