1290 Gamco Correlations

Mutual Funds . USA . 
Fund . 1290 Gamco Smallmid
TNVIX Fund  USD 17.40  0.20  1.14%   
The current 90-days correlation between 1290 Gamco Smallmid and Fwnhtx is -0.09 (i.e., Good diversification). The correlation of 1290 Gamco 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 Gamco Correlation With Market

Weak diversification

The correlation between 1290 Gamco Smallmid and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Gamco Smallmid 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 Gamco Smallmid. 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 1290 Mutual Fund

  0.97TNBIX 1290 Smartbeta EquityPairCorr
  0.97TNBRX 1290 Smartbeta EquityPairCorr
  0.97TNBAX 1290 Smartbeta EquityPairCorr
  0.96TNIIX 1290 Retirement 2020PairCorr
  0.96TNKIX 1290 Retirement 2030PairCorr
  0.96TNJIX 1290 Retirement 2025PairCorr
  0.9TNLIX 1290 Retirement 2035PairCorr
  0.88TNOIX 1290 Retirement 2045PairCorr
  0.96TNNIX 1290 Retirement 2040PairCorr
  0.89TNQIX 1290 Retirement 2055PairCorr
  0.85TNURX 1290 Unconstrained BondPairCorr
  1.0TNVAX 1290 Gamco SmallmidPairCorr
  0.84TNUAX 1290 Unconstrained BondPairCorr
  0.85TNUIX 1290 Unconstrained BondPairCorr
  0.93TNXAX 1290 Doubleline DynamicPairCorr
  1.0TNVRX 1290 Gamco SmallmidPairCorr
  0.94TNWIX 1290 Retirement 2050PairCorr
  0.93TNYRX 1290 Doubleline DynamicPairCorr
  0.88VSIIX Vanguard Small CapPairCorr
  0.88VISVX Vanguard Small CapPairCorr
  0.86DFSVX Us Small CapPairCorr
  0.82DFFVX Us Targeted ValuePairCorr
  0.97UBVCX Undiscovered ManagersPairCorr
  0.96UBVAX Undiscovered ManagersPairCorr
  0.96UBVSX Undiscovered ManagersPairCorr

Related Correlations Analysis

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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   
WMCANX
+ 0.76
FLAKQX
WMCANX
+ 0.75
FURYAX
FURYAX
+ 0.74
FLAKQX
FTUFOX
+ 0.65
FLAKQX
WMCANX
+ 0.65
FUHKBX
FUHKBX
+ 0.61
FURYAX
  
High negative correlations   
HDCAX
- 0.14
FWNHTX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Gamco 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 Gamco'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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