1290 Smartbeta Correlations

TNBRX Fund

USD 19.86 0.07 0.35%

The current 90-days correlation between 1290 Smartbeta Equity and Barings Active Short is -0.04 (i.e., Good diversification). The correlation of 1290 Smartbeta 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.

1290 Smartbeta Correlation With Market

Average diversification

The correlation between 1290 Smartbeta Equity and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Smartbeta Equity 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 1290 Smartbeta Equity. 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 1290 Mutual Fund

0.64	FCWGX	American Funds Capital	Pair Corr
0.64	FWCGX	American Funds Capital	Pair Corr
0.72	CWGIX	Capital World Growth	Pair Corr
0.71	CWGFX	Capital World Growth	Pair Corr
0.71	CWGCX	Capital World Growth	Pair Corr
0.72	RWIFX	Capital World Growth	Pair Corr
0.71	CWICX	Capital World Growth	Pair Corr
0.71	RWIAX	Capital World Growth	Pair Corr
0.72	CWIAX	Capital World Growth	Pair Corr
0.72	WGIFX	Capital World Growth	Pair Corr
0.64	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.63	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.63	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.62	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.61	KINCX	Kinetics Internet	Pair Corr
0.62	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.61	KINAX	Kinetics Internet	Pair Corr
0.62	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.62	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.72	TEGYX	Mid Cap Growth	Pair Corr
0.8	PRDSX	T Rowe Price	Pair Corr
0.74	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.64	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.73	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.61	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.7	HPQ	HP Inc	Pair Corr
0.69	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.7	HD	Home Depot	Pair Corr

Related Correlations Analysis

	BXDYX	MSVIX	ICAXX	MBSAX	PRVBX	ARTFX
BXDYX		0.46	0.0	0.36	0.88	0.9	BXDYX
MSVIX	0.46		0.0	0.1	0.41	0.64	MSVIX
ICAXX	0.0	0.0		0.0	0.0	0.0	ICAXX
MBSAX	0.36	0.1	0.0		0.44	0.17	MBSAX
PRVBX	0.88	0.41	0.0	0.44		0.77	PRVBX
ARTFX	0.9	0.64	0.0	0.17	0.77		ARTFX
	BXDYX	MSVIX	ICAXX	MBSAX	PRVBX	ARTFX

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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

ARTFX	+ 0.9	BXDYX
PRVBX	+ 0.88	BXDYX
ARTFX	+ 0.77	PRVBX
ARTFX	+ 0.64	MSVIX
MSVIX	+ 0.46	BXDYX
PRVBX	+ 0.44	MBSAX

High negative correlations

ARTFX	- 0.0	ICAXX
PRVBX	- 0.0	ICAXX
MBSAX	- 0.0	ICAXX
ICAXX	- 0.0	MSVIX
ICAXX	- 0.0	BXDYX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Smartbeta 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 1290 Smartbeta'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
BXDYX	0.10	0.01	(0.77)	(0.47)	0.00	(0.16)	0.33	(0.11)	0.66
MSVIX	0.79	(0.07)	(0.04)	0.06	0.84	(0.91)	1.78	(1.41)	5.71
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MBSAX	0.21	0.00	(0.36)	0.07	0.23	(0.23)	0.37	(0.44)	1.25
PRVBX	0.09	0.00	(0.93)	0.33	0.00	(0.10)	0.20	(0.20)	0.53
ARTFX	0.12	0.04	(0.60)	(1.12)	0.00	(0.20)	0.33	(0.22)	1.01

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