Alpine Global Correlations

XAGDX Fund

USD 12.04 0.13 1.09%

The current 90-days correlation between Alpine Global Dynamic and Vanguard Total Bond is 0.1 (i.e., Average diversification). The correlation of Alpine Global 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.

Alpine Global Correlation With Market

Very poor diversification

The correlation between Alpine Global Dynamic 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 Alpine Global Dynamic and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Alpine Global Dynamic. 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 small area income & poverty estimates.

Moving together with Alpine Mutual Fund

0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.72	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSMX	Vanguard Total Stock	Pair Corr
0.76	VITSX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.87	VTIAX	Vanguard Total Inter	Pair Corr
0.73	VFINX	Vanguard 500 Index	Pair Corr
0.72	VFFSX	Vanguard 500 Index	Pair Corr
0.63	PFN	Pimco Income Strategy	Pair Corr
0.66	NFJEX	Allianzgi Nfj Dividend	Pair Corr
0.72	PRNIX	Allianzgi Nfj Mid	Pair Corr
0.66	WSGAX	Ivy Small Cap	Pair Corr
0.75	FSSNX	Fidelity Small Cap	Pair Corr
0.73	MKECX	Blackrock Funds	Pair Corr
0.62	GPIFX	Guidepath Flexible Income	Pair Corr
0.91	CAAAX	Calvert Aggressive	Pair Corr
0.74	AOGIX	One Choice Portfolio	Pair Corr
0.69	TILCX	T Rowe Price	Pair Corr
0.67	JUCTX	Janus Global Unconst	Pair Corr
0.74	GGQPX	Goldman Sachs Growth	Pair Corr
0.68	GIFAX	Guggenheim Floating Rate	Pair Corr
0.85	PISHX	Cohen Steers Preferred	Pair Corr
0.73	RSEJX	Victory Rs Small	Pair Corr
0.64	PYFIX	Payden Floating Rate	Pair Corr
0.73	ADAVX	Alpine Dynamic Dividend	Pair Corr
0.69	JRSCX	Intech Managed Volatility	Pair Corr
0.72	LIRPX	Blackrock Lifepath Index	Pair Corr
0.77	WICVX	Wasatch Small Cap	Pair Corr
0.77	RGGCX	Victory Rs Global	Pair Corr
0.8	MJFOX	Matthews Japan	Pair Corr

Moving against Alpine Mutual Fund

0.42

XNBHX

Neuberger Berman Int

Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VSTSX	VITSX	VSMPX	VTIAX	VFINX	VFFSX	VBTLX
VTSAX		0.99	1.0	1.0	1.0	1.0	0.85	0.87	0.99	0.34	VTSAX
VFIAX	0.99		0.99	0.99	0.99	0.99	0.81	0.85	1.0	0.37	VFIAX
VTSMX	1.0	0.99		1.0	1.0	1.0	0.84	0.87	0.99	0.35	VTSMX
VSTSX	1.0	0.99	1.0		1.0	1.0	0.85	0.87	0.99	0.34	VSTSX
VITSX	1.0	0.99	1.0	1.0		1.0	0.84	0.87	0.99	0.34	VITSX
VSMPX	1.0	0.99	1.0	1.0	1.0		0.84	0.87	0.99	0.34	VSMPX
VTIAX	0.85	0.81	0.84	0.85	0.84	0.84		0.71	0.81	0.07	VTIAX
VFINX	0.87	0.85	0.87	0.87	0.87	0.87	0.71		0.85	0.34	VFINX
VFFSX	0.99	1.0	0.99	0.99	0.99	0.99	0.81	0.85		0.36	VFFSX
VBTLX	0.34	0.37	0.35	0.34	0.34	0.34	0.07	0.34	0.36		VBTLX
	VTSAX	VFIAX	VTSMX	VSTSX	VITSX	VSMPX	VTIAX	VFINX	VFFSX	VBTLX

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Risk-Adjusted Indicators

There is a big difference between Alpine Mutual Fund performing well and Alpine Global 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 Alpine Global'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VTSAX	0.57	(0.02)	(0.03)	0.05	0.79	(0.54)	1.15	(1.22)	3.55
VFIAX	0.54	(0.02)	(0.04)	0.05	0.76	(0.52)	1.16	(1.17)	3.61
VTSMX	0.57	(0.02)	(0.03)	0.05	0.77	(0.55)	1.15	(1.23)	3.56
VSTSX	0.57	(0.02)	(0.03)	0.05	0.79	(0.54)	1.15	(1.22)	3.55
VITSX	0.57	(0.02)	(0.03)	0.05	0.77	(0.55)	1.15	(1.23)	3.55
VSMPX	0.57	(0.02)	(0.03)	0.05	0.77	(0.55)	1.15	(1.22)	3.55
VTIAX	0.56	0.07	0.06	0.17	0.55	(0.60)	1.14	(1.18)	3.84
VFINX	0.55	(0.04)	(0.07)	0.01	0.83	(0.49)	1.06	(1.17)	3.61
VFFSX	0.55	(0.02)	(0.04)	0.05	0.77	(0.51)	1.16	(1.17)	3.61
VBTLX	0.15	(0.02)	0.00	(0.21)	0.00	0.00	0.21	(0.31)	0.82

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