Towpath Focus Correlations

TOWFX Fund

USD 16.18 0.11 0.68%

The current 90-days correlation between Towpath Focus and Red Oak Technology is 0.61 (i.e., Poor 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

Weak diversification

The correlation between Towpath Focus and DJI is 0.34 (i.e., Weak 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

0.91	VTSAX	Vanguard Total Stock	Pair Corr
0.89	VFIAX	Vanguard 500 Index	Pair Corr
0.91	VTSMX	Vanguard Total Stock	Pair Corr
0.91	VSMPX	Vanguard Total Stock	Pair Corr
0.91	VSTSX	Vanguard Total Stock	Pair Corr
0.91	VITSX	Vanguard Total Stock	Pair Corr
0.89	VFINX	Vanguard 500 Index	Pair Corr
0.89	VFFSX	Vanguard 500 Index	Pair Corr
0.78	LABAX	Loomis Sayles Strategic	Pair Corr
0.81	TFOIX	Transamerica Capital	Pair Corr
0.81	ORIYX	Oak Ridge Small	Pair Corr
0.8	PGHCX	Virtus High Yield	Pair Corr
0.76	CNEYX	Alger Concentrated Equity	Pair Corr
0.83	MRAGX	Meridian Growth	Pair Corr
0.85	STBDX	Sierra Tactical Bond	Pair Corr
0.81	JLGMX	Jpmorgan Large Cap	Pair Corr

Moving against Towpath Mutual Fund

0.6

VTLXX

Vtlxx

Pair Corr

Related Correlations Analysis

	ROGSX	FPDDJX	FXYBJX	FBJYGX	WMCANX	TMVAX	FBANJX	VOLJX
ROGSX		0.43	0.45	0.42	0.62	0.57	0.44	0.67	ROGSX
FPDDJX	0.43		-0.3	-0.09	-0.05	0.59	-0.23	0.12	FPDDJX
FXYBJX	0.45	-0.3		0.37	0.72	0.46	0.86	0.25	FXYBJX
FBJYGX	0.42	-0.09	0.37		0.49	0.5	0.59	0.18	FBJYGX
WMCANX	0.62	-0.05	0.72	0.49		0.59	0.64	0.27	WMCANX
TMVAX	0.57	0.59	0.46	0.5	0.59		0.47	0.63	TMVAX
FBANJX	0.44	-0.23	0.86	0.59	0.64	0.47		0.22	FBANJX
VOLJX	0.67	0.12	0.25	0.18	0.27	0.63	0.22		VOLJX
	ROGSX	FPDDJX	FXYBJX	FBJYGX	WMCANX	TMVAX	FBANJX	VOLJX

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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

FBANJX	+ 0.86	FXYBJX
WMCANX	+ 0.72	FXYBJX
VOLJX	+ 0.67	ROGSX
FBANJX	+ 0.64	WMCANX
VOLJX	+ 0.63	TMVAX
WMCANX	+ 0.62	ROGSX

High negative correlations

FXYBJX	- 0.3	FPDDJX
FBANJX	- 0.23	FPDDJX
FBJYGX	- 0.09	FPDDJX
WMCANX	- 0.05	FPDDJX

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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ROGSX	0.95	(0.05)	(0.12)	0.00	0.00	1.70	(2.51)	8.31
FPDDJX	0.37	0.44	6.54	0.00	0.00	1.03	(0.35)	0.93
FXYBJX	0.48	0.05	1.67	0.00	0.00	1.16	(1.53)	1.53
FBJYGX	0.45	0.02	0.47	0.64	(0.45)	0.87	(1.30)	2.17
WMCANX	0.51	0.09	0.71	0.00	0.00	1.40	(1.50)	2.41
TMVAX	1.00	(0.07)	(0.24)	0.00	0.00	1.95	(2.11)	14.59
FBANJX	0.56	(0.01)	(0.24)	0.00	0.00	1.38	(1.99)	2.83
VOLJX	0.73	0.01	0.05	1.15	(0.72)	1.52	(1.60)	6.07

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