Tortoise Energy Correlations

XNDPX Fund

USD 45.60 0.56 1.21%

The current 90-days correlation between Tortoise Energy Inde and Gmo High Yield is 0.17 (i.e., Average diversification). The correlation of Tortoise Energy 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.

Tortoise Energy Correlation With Market

Very weak diversification

The correlation between Tortoise Energy Independence and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tortoise Energy Independence 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 Tortoise Energy Independence. 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 american community survey.

Moving together with Tortoise Mutual Fund

0.86	VTSAX	Vanguard Total Stock	Pair Corr
0.84	VFIAX	Vanguard 500 Index	Pair Corr
0.86	VTSMX	Vanguard Total Stock	Pair Corr
0.86	VITSX	Vanguard Total Stock	Pair Corr
0.86	VSTSX	Vanguard Total Stock	Pair Corr
0.86	VSMPX	Vanguard Total Stock	Pair Corr
0.84	VFINX	Vanguard 500 Index	Pair Corr
0.84	VFFSX	Vanguard 500 Index	Pair Corr
0.73	SPGSX	State Street Premier	Pair Corr
0.79	VEMPX	Vanguard Extended Market	Pair Corr
0.77	RFNFX	American Funds Funda	Pair Corr
0.77	FSPGX	Fidelity Large Cap	Pair Corr
0.76	RULFX	Rbc Ultra Short	Pair Corr
0.61	SECPX	Sdit Ultra Short	Pair Corr
0.79	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.8	CSDGX	Copeland Smid Cap	Pair Corr
0.76	FSPTX	Technology Portfolio	Pair Corr
0.71	BPTRX	Baron Partners	Pair Corr
0.87	CRF	Cornerstone Strategic	Pair Corr
0.65	VDAFX	Dynamic Allocation	Pair Corr
0.74	NWAQX	Nationwide Destination	Pair Corr
0.7	BSCXX	Northern Institutional	Pair Corr
0.79	BITW	Bitwise 10 Crypto	Pair Corr
0.65	RNGEX	New Economy Fund	Pair Corr
0.77	TRPIX	T Rowe Price	Pair Corr
0.79	VTCLX	Vanguard Tax Managed	Pair Corr

Moving against Tortoise Mutual Fund

0.75	KF	Korea Closed	Pair Corr
0.65	BRUFX	Bruce Fund Bruce	Pair Corr
0.34	VGTSX	Vanguard Total Inter	Pair Corr
0.34	VTIAX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	GMOZX	PKHIX	SGYAX	JHYZX	MRHYX	ARTFX	SIHSX
GMOZX		0.89	0.81	0.95	0.92	0.87	0.93	GMOZX
PKHIX	0.89		0.93	0.95	0.94	0.96	0.94	PKHIX
SGYAX	0.81	0.93		0.92	0.9	0.98	0.86	SGYAX
JHYZX	0.95	0.95	0.92		0.98	0.96	0.92	JHYZX
MRHYX	0.92	0.94	0.9	0.98		0.93	0.87	MRHYX
ARTFX	0.87	0.96	0.98	0.96	0.93		0.92	ARTFX
SIHSX	0.93	0.94	0.86	0.92	0.87	0.92		SIHSX
	GMOZX	PKHIX	SGYAX	JHYZX	MRHYX	ARTFX	SIHSX

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Risk-Adjusted Indicators

There is a big difference between Tortoise Mutual Fund performing well and Tortoise Energy 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 Tortoise Energy'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GMOZX	0.13	0.00	(0.50)	0.15	(0.18)	0.28	(0.33)	0.90
PKHIX	0.11	0.02	(0.50)	0.42	(0.19)	0.34	(0.22)	0.90
SGYAX	0.14	0.02	(0.48)	0.45	(0.25)	0.29	(0.14)	1.28
JHYZX	0.11	0.02	(0.58)	0.55	(0.21)	0.31	(0.15)	0.47
MRHYX	0.09	0.02	(0.64)	0.33	(0.14)	0.23	(0.12)	0.59
ARTFX	0.12	0.03	(0.60)	0.57	(0.20)	0.33	(0.22)	1.01
SIHSX	0.11	0.01	(0.84)	0.42	(0.17)	0.30	(0.20)	0.70

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