1290 Unconstrained Correlations

TNUAX Fund

USD 8.38 0.05 0.59%

The current 90-days correlation between 1290 Unconstrained Bond and Versatile Bond Portfolio is 0.78 (i.e., Poor diversification). The correlation of 1290 Unconstrained 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 Unconstrained Correlation With Market

Good diversification

The correlation between 1290 Unconstrained Bond and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Unconstrained Bond 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 Unconstrained Bond. 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 nation.

Moving together with 1290 Mutual Fund

1.0	TNURX	1290 Unconstrained Bond	Pair Corr
1.0	TNUIX	1290 Unconstrained Bond	Pair Corr
0.99	MWTNX	Metropolitan West Total	Pair Corr
0.99	MWTSX	Metropolitan West Total	Pair Corr
0.96	PTTPX	Pimco Total Return	Pair Corr
0.98	PTRRX	Total Return	Pair Corr
0.98	PTRAX	Total Return	Pair Corr
0.98	PTTRX	Total Return	Pair Corr

Moving against 1290 Mutual Fund

0.77	TNRAX	1290 Funds	Pair Corr
0.73	ESCKX	1290 Funds	Pair Corr
0.73	ESCJX	1290 Essex Small	Pair Corr
0.72	ESCFX	1290 Funds	Pair Corr
0.71	TNVAX	1290 Gamco Smallmid	Pair Corr
0.67	TNBCX	1290 Smartbeta Equity	Pair Corr
0.66	TNVCX	1290 Gamco Smallmid	Pair Corr
0.52	TNBIX	1290 Smartbeta Equity	Pair Corr
0.51	TNBRX	1290 Smartbeta Equity	Pair Corr
0.51	TNBAX	1290 Smartbeta Equity	Pair Corr
0.51	TNQIX	1290 Retirement 2055	Pair Corr
0.45	TNHAX	1290 High Yield	Pair Corr
0.44	TNHIX	1290 High Yield	Pair Corr
0.43	TNOIX	1290 Retirement 2045	Pair Corr
0.39	TNHRX	1290 High Yield	Pair Corr
0.39	TNMAX	1290 Multi Alternative	Pair Corr
0.39	TNMRX	1290 Multi Alternative	Pair Corr
0.37	TNMIX	1290 Multi Alternative	Pair Corr
0.34	TNHCX	1290 High Yield	Pair Corr
0.34	TNNIX	1290 Retirement 2040	Pair Corr
0.87	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.87	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.87	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.87	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.77	TNXIX	1290 Retirement 2060	Pair Corr
0.74	SMPIX	Semiconductor Ultrasector	Pair Corr
0.73	SMPSX	Semiconductor Ultrasector	Pair Corr
0.71	TNVIX	1290 Gamco Smallmid	Pair Corr
0.7	TNVRX	1290 Gamco Smallmid	Pair Corr
0.69	RSNYX	Victory Global Natural	Pair Corr
0.69	RSNRX	Victory Global Natural	Pair Corr
0.46	TNWIX	1290 Retirement 2050	Pair Corr

Related Correlations Analysis

	PRVBX	MBSAX	RGHYX	PFSQX	ICAXX	XFINX
PRVBX		0.44	0.83	0.32	0.0	0.67	PRVBX
MBSAX	0.44		0.4	-0.16	0.0	0.1	MBSAX
RGHYX	0.83	0.4		0.65	0.0	0.77	RGHYX
PFSQX	0.32	-0.16	0.65		0.0	0.67	PFSQX
ICAXX	0.0	0.0	0.0	0.0		0.0	ICAXX
XFINX	0.67	0.1	0.77	0.67	0.0		XFINX
	PRVBX	MBSAX	RGHYX	PFSQX	ICAXX	XFINX

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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

RGHYX	+ 0.83	PRVBX
XFINX	+ 0.77	RGHYX
XFINX	+ 0.67	PRVBX
XFINX	+ 0.67	PFSQX
PFSQX	+ 0.65	RGHYX
MBSAX	+ 0.44	PRVBX

High negative correlations

PFSQX	- 0.16	MBSAX
XFINX	- 0.0	ICAXX
ICAXX	- 0.0	PFSQX
ICAXX	- 0.0	RGHYX
ICAXX	- 0.0	MBSAX
ICAXX	- 0.0	PRVBX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Unconstrained 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 Unconstrained'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
PRVBX	0.09	0.00	(0.93)	0.33	0.00	(0.10)	0.20	(0.20)	0.53
MBSAX	0.21	0.00	(0.36)	0.07	0.23	(0.23)	0.37	(0.44)	1.25
RGHYX	0.09	0.02	(0.65)	0.95	0.00	(0.14)	0.20	(0.20)	0.51
PFSQX	0.80	0.06	0.13	0.16	0.52	(0.99)	1.58	(1.42)	8.34
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XFINX	0.11	0.02	(0.25)	0.97	0.13	(0.13)	0.22	(0.14)	1.00

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