Towpath Focus Correlations

TOWFX Fund

USD 19.03 0.09 0.47%

The current 90-days correlation between Towpath Focus and Crossmark Steward Equity is -0.23 (i.e., Very good diversification). The correlation of Towpath Focus 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.

Towpath Focus Correlation With Market

Poor diversification

The correlation between Towpath Focus and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Towpath Focus 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 Towpath Focus. 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 Towpath Mutual Fund

0.62	TOWTX	Towpath Technology	Pair Corr
0.79	VVIAX	Vanguard Value Index	Pair Corr
0.61	AWSHX	Washington Mutual	Pair Corr
0.69	WSHFX	Washington Mutual	Pair Corr
0.83	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.83	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.83	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.83	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.83	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.87	SFLNX	Schwab Fundamental Large	Pair Corr
0.79	DMA	Destra Multi Alternative	Pair Corr
0.83	VUSXX	Vanguard Treasury Money	Pair Corr
0.84	MDLVX	Blackrock Lg Cap	Pair Corr
0.83	USHYX	High Income Fund	Pair Corr
0.94	CUSDX	Six Circles Ultra	Pair Corr
0.72	FEQIX	Fidelity Equity Income	Pair Corr
0.92	RFXCX	Rational Special Sit	Pair Corr
0.9	FTZAX	Fuller Thaler Behavioral	Pair Corr
0.91	NVG	Nuveen Amt Free	Pair Corr
0.8	ETCTX	Eaton Vance Necticut	Pair Corr
0.91	WEFIX	Short Duration Income	Pair Corr
0.79	CLM	Cornerstone Strategic	Pair Corr

Related Correlations Analysis

	SMNIX	MSTFX	QLENX	SMYIX	CSPFX	PAEIX	SNPTX
SMNIX		-0.01	0.46	0.19	-0.16	0.09	0.3	SMNIX
MSTFX	-0.01		0.76	0.89	0.92	0.81	0.68	MSTFX
QLENX	0.46	0.76		0.91	0.75	0.82	0.81	QLENX
SMYIX	0.19	0.89	0.91		0.87	0.88	0.78	SMYIX
CSPFX	-0.16	0.92	0.75	0.87		0.89	0.78	CSPFX
PAEIX	0.09	0.81	0.82	0.88	0.89		0.86	PAEIX
SNPTX	0.3	0.68	0.81	0.78	0.78	0.86		SNPTX
	SMNIX	MSTFX	QLENX	SMYIX	CSPFX	PAEIX	SNPTX

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

CSPFX	+ 0.92	MSTFX
SMYIX	+ 0.91	QLENX
SMYIX	+ 0.89	MSTFX
PAEIX	+ 0.89	CSPFX
PAEIX	+ 0.88	SMYIX
CSPFX	+ 0.87	SMYIX

High negative correlations

CSPFX	- 0.16	SMNIX
MSTFX	- 0.01	SMNIX

Risk-Adjusted Indicators

There is a big difference between Towpath Mutual Fund performing well and Towpath Focus 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 Towpath Focus' 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
SMNIX	0.47	0.02	(0.05)	(0.02)	0.71	(0.47)	0.85	(0.75)	4.83
MSTFX	0.78	0.18	0.19	0.25	0.64	(0.89)	1.12	(1.21)	15.62
QLENX	0.31	0.10	0.17	0.38	0.00	(0.38)	0.77	(0.39)	1.55
SMYIX	0.62	0.11	0.11	0.20	0.65	(0.68)	1.25	(1.16)	6.98
CSPFX	0.77	0.05	0.06	0.10	0.82	(0.83)	1.51	(1.21)	5.67
PAEIX	0.60	0.04	0.04	0.10	0.73	(0.62)	1.23	(1.27)	3.04
SNPTX	0.54	0.02	0.02	0.07	0.77	(0.52)	1.18	(1.02)	3.00

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