Towpath Focus Correlations

TOWFX Fund

USD 19.38 0.01 0.05%

The current 90-days correlation between Towpath Focus and Oppenheimer Moderate Invstr is 0.63 (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

Poor diversification

The correlation between Towpath Focus and DJI is 0.67 (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

0.83	VVIAX	Vanguard Value Index	Pair Corr
0.67	AWSHX	Washington Mutual	Pair Corr
0.66	WSHCX	Washington Mutual	Pair Corr
0.7	WSHFX	Washington Mutual	Pair Corr
0.61	IOGYX	Invesco Gold Special	Pair Corr
0.64	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.64	FEGOX	First Eagle Gold	Pair Corr
0.79	LTEBX	Limited Term Tax	Pair Corr
0.62	FRDPX	Franklin Rising Dividends	Pair Corr
0.73	MRK	Merck Company	Pair Corr
0.61	AA	Alcoa Corp	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.62	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.63	XOM	Exxon Mobil Corp	Pair Corr

Moving against Towpath Mutual Fund

0.57	MSFT	Microsoft	Pair Corr
0.57	HPQ	HP Inc	Pair Corr
0.53	HD	Home Depot	Pair Corr

Related Correlations Analysis

	OCMIX	SAMAX	JIBBX	TRRHX	TRSJX	TPILX
OCMIX		0.85	0.96	0.96	0.96	0.97	OCMIX
SAMAX	0.85		0.78	0.85	0.79	0.84	SAMAX
JIBBX	0.96	0.78		0.89	0.98	0.91	JIBBX
TRRHX	0.96	0.85	0.89		0.89	1.0	TRRHX
TRSJX	0.96	0.79	0.98	0.89		0.91	TRSJX
TPILX	0.97	0.84	0.91	1.0	0.91		TPILX
	OCMIX	SAMAX	JIBBX	TRRHX	TRSJX	TPILX

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
OCMIX	0.45	0.02	(0.01)	0.11	0.52	(0.48)	0.99	(0.89)	3.06
SAMAX	0.60	0.13	0.13	0.40	0.40	(0.69)	1.10	(0.99)	9.75
JIBBX	0.25	0.00	(0.14)	0.07	0.24	(0.29)	0.51	(0.50)	1.33
TRRHX	0.36	0.04	0.02	0.17	0.22	(0.42)	0.66	(0.59)	4.11
TRSJX	0.56	(0.01)	(0.02)	0.07	0.74	(0.56)	1.06	(1.10)	2.98
TPILX	0.27	0.03	(0.06)	0.15	0.13	(0.35)	0.52	(0.43)	2.48

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