Towpath Focus Correlations

TOWFX Fund

USD 20.19 0.15 0.74%

The current 90-days correlation between Towpath Focus and Ophmr Eml Dbt is -0.04 (i.e., 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

Very poor diversification

The correlation between Towpath Focus and DJI is 0.8 (i.e., Very 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 price.

Moving together with Towpath Mutual Fund

0.98	VVIAX	Vanguard Value Index	Pair Corr
0.87	AWSHX	Washington Mutual	Pair Corr
0.86	WSHCX	Washington Mutual	Pair Corr
0.87	WSHFX	Washington Mutual	Pair Corr
0.86	FWWMX	American Funds Washington	Pair Corr
0.83	FWMMX	American Funds Washington	Pair Corr
0.89	DODGX	Dodge Stock Fund	Pair Corr
0.94	AMFFX	American Mutual	Pair Corr
0.94	AMFCX	American Mutual	Pair Corr
0.92	FTYPX	Fidelity Freedom Index	Pair Corr
0.94	FFBTX	Fidelity Freedom Blend	Pair Corr
0.93	GAAVX	Gmo Alternative Allo	Pair Corr
0.89	GCAVX	Gmo Small Cap	Pair Corr
0.91	GHVIX	Gmo High Yield	Pair Corr
0.73	GMCQX	Gmo Equity Allocation	Pair Corr
0.93	PAXDX	Pax Esg Beta	Pair Corr
0.8	FUNFX	American Funds Funda	Pair Corr
0.86	TIOSX	Tiaa Cref International	Pair Corr
0.94	AMDWX	Amana Developing World	Pair Corr
0.89	VGSAX	Virtus Global Real	Pair Corr
0.95	LNCIX	Ladenburg Income Fun	Pair Corr
0.91	MLOAX	Cohen Steers Mlp	Pair Corr
0.93	SSMMX	Western Asset Managed	Pair Corr
0.72	PSGRX	Putnam Small Cap	Pair Corr
0.89	CCFTX	American Funds 2035	Pair Corr
0.94	GIMCX	Nationwide Investor	Pair Corr
0.94	AMDVX	Mid Cap Value	Pair Corr
0.93	FSHNX	Fidelity Series High	Pair Corr
0.91	JGEFX	Global Equity	Pair Corr
0.88	MKLOX	Blackrock Global All	Pair Corr
0.91	SSDDX	State Street Target	Pair Corr
0.94	RAGIX	Riverfront Asset All	Pair Corr
0.92	EMLKX	Mfs Emerging Markets	Pair Corr
0.79	CFNCX	American Funds Funda	Pair Corr

Moving against Towpath Mutual Fund

0.43

TOWTX

Towpath Technology

Pair Corr

Related Correlations Analysis

	TOWTX	CSVIX	GTCCX	FSELX	NOFIX	DDVAX	NOTIX	RYESX	OEMIX
TOWTX		-0.01	-0.2	-0.24	-0.64	-0.08	-0.51	-0.57	-0.4	TOWTX
CSVIX	-0.01		0.75	0.64	0.48	0.89	0.64	0.62	0.71	CSVIX
GTCCX	-0.2	0.75		0.89	0.69	0.8	0.88	0.86	0.88	GTCCX
FSELX	-0.24	0.64	0.89		0.7	0.68	0.8	0.89	0.91	FSELX
NOFIX	-0.64	0.48	0.69	0.7		0.6	0.86	0.84	0.8	NOFIX
DDVAX	-0.08	0.89	0.8	0.68	0.6		0.7	0.65	0.75	DDVAX
NOTIX	-0.51	0.64	0.88	0.8	0.86	0.7		0.9	0.87	NOTIX
RYESX	-0.57	0.62	0.86	0.89	0.84	0.65	0.9		0.93	RYESX
OEMIX	-0.4	0.71	0.88	0.91	0.8	0.75	0.87	0.93		OEMIX
	TOWTX	CSVIX	GTCCX	FSELX	NOFIX	DDVAX	NOTIX	RYESX	OEMIX

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

OEMIX	+ 0.93	RYESX
OEMIX	+ 0.91	FSELX
RYESX	+ 0.9	NOTIX
DDVAX	+ 0.89	CSVIX
FSELX	+ 0.89	GTCCX
RYESX	+ 0.89	FSELX

High negative correlations

NOFIX	- 0.64	TOWTX
RYESX	- 0.57	TOWTX
NOTIX	- 0.51	TOWTX
OEMIX	- 0.4	TOWTX
FSELX	- 0.24	TOWTX
GTCCX	- 0.2	TOWTX

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
TOWTX	0.75	(0.08)	0.00	(0.04)	0.00	0.00	1.36	(2.21)	4.84
CSVIX	0.95	0.21	0.28	0.18	0.47	(1.27)	1.93	(1.49)	17.07
GTCCX	0.89	0.35	0.39	0.50	0.14	(1.06)	1.72	(1.42)	17.90
FSELX	1.51	0.14	0.07	0.14	1.89	(1.58)	3.09	(3.62)	10.05
NOFIX	0.14	0.00	(0.19)	0.04	0.11	(0.22)	0.33	(0.33)	1.00
DDVAX	1.24	0.74	0.87	(0.99)	0.00	(1.61)	1.53	(0.76)	37.84
NOTIX	0.11	0.01	(0.11)	0.30	0.06	(0.15)	0.19	(0.29)	0.85
RYESX	1.46	0.46	0.29	0.42	1.19	(1.76)	4.06	(2.53)	8.93
OEMIX	0.30	0.03	0.00	0.21	0.39	(0.35)	0.71	(0.52)	2.32

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