At Equity Correlations

AWYIX Fund

USD 66.21 0.28 0.42%

The current 90-days correlation between At Equity Income and T Rowe Price is -0.13 (i.e., Good diversification). The correlation of At Equity 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.

At Equity Correlation With Market

Very poor diversification

The correlation between At Equity Income and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding At Equity Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in At Equity Income. 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 gross domestic product.

Moving together with AWYIX Mutual Fund

0.9	AWEIX	Invesco Disciplined	Pair Corr
0.9	AWGIX	Cibc Atlas All	Pair Corr
0.91	AWIIX	At Income Opportunities	Pair Corr
0.95	AWMIX	At Mid Cap	Pair Corr
0.96	VTSAX	Vanguard Total Stock	Pair Corr
0.92	VFIAX	Vanguard 500 Index	Pair Corr
0.96	VTSMX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.96	VSMPX	Vanguard Total Stock	Pair Corr
0.96	VSTSX	Vanguard Total Stock	Pair Corr
0.92	VFINX	Vanguard 500 Index	Pair Corr
0.95	VFFSX	Vanguard 500 Index	Pair Corr
0.95	VINIX	Vanguard Institutional	Pair Corr
0.95	VIIIX	Vanguard Institutional	Pair Corr
0.67	SMPIX	Semiconductor Ultrasector	Pair Corr
0.67	SMPSX	Semiconductor Ultrasector	Pair Corr
0.81	RSNYX	Victory Global Natural	Pair Corr
0.82	RSNRX	Victory Global Natural	Pair Corr
0.81	RGNCX	Victory Global Natural	Pair Corr
0.9	LSHUX	Horizon Spin Off Potential Growth	Pair Corr
0.9	LSHEX	Kinetics Spin Off Potential Growth	Pair Corr
0.9	LSHAX	Horizon Spin Off Potential Growth	Pair Corr
0.89	RMQAX	Monthly Rebalance Steady Growth	Pair Corr
0.86	RMQHX	Monthly Rebalance Steady Growth	Pair Corr
0.91	RFEBX	American Funds Funda	Pair Corr
0.91	VWELX	Vanguard Wellington	Pair Corr
0.95	PRCOX	T Rowe Price	Pair Corr
0.86	ANFCX	New Economy Fund	Pair Corr
0.93	VIGAX	Vanguard Growth Index	Pair Corr
0.92	FSLBX	Brokerage And Investment	Pair Corr
0.87	MLOZX	Cohen Steers Mlp	Pair Corr
0.95	VWENX	Vanguard Wellington	Pair Corr
0.86	SMTQX	Jpmorgan Smartretirement	Pair Corr
0.95	DSPIX	Dreyfus Institutional	Pair Corr
0.7	MWFLX	Metropolitan West	Pair Corr
0.86	BTCFX	Bitcoin Strategy Profund	Pair Corr

Related Correlations Analysis

	PATFX	SMGXX	MDMTX	ABNTX	PAMFX	TFGXX	PRVHX	BBINX
PATFX		0.12	0.8	0.72	0.97	-0.2	0.38	0.96	PATFX
SMGXX	0.12		-0.04	0.12	0.12	0.18	0.33	0.05	SMGXX
MDMTX	0.8	-0.04		0.63	0.85	-0.5	0.01	0.89	MDMTX
ABNTX	0.72	0.12	0.63		0.74	-0.48	0.51	0.73	ABNTX
PAMFX	0.97	0.12	0.85	0.74		-0.32	0.34	0.97	PAMFX
TFGXX	-0.2	0.18	-0.5	-0.48	-0.32		0.26	-0.37	TFGXX
PRVHX	0.38	0.33	0.01	0.51	0.34	0.26		0.22	PRVHX
BBINX	0.96	0.05	0.89	0.73	0.97	-0.37	0.22		BBINX
	PATFX	SMGXX	MDMTX	ABNTX	PAMFX	TFGXX	PRVHX	BBINX

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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

PAMFX	+ 0.97	PATFX
BBINX	+ 0.97	PAMFX
BBINX	+ 0.96	PATFX
BBINX	+ 0.89	MDMTX
PAMFX	+ 0.85	MDMTX
MDMTX	+ 0.8	PATFX

High negative correlations

TFGXX	- 0.5	MDMTX
TFGXX	- 0.48	ABNTX
BBINX	- 0.37	TFGXX
TFGXX	- 0.32	PAMFX
TFGXX	- 0.2	PATFX
MDMTX	- 0.04	SMGXX

Risk-Adjusted Indicators

There is a big difference between AWYIX Mutual Fund performing well and At Equity 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 At Equity'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
PATFX	0.15	0.02	(0.20)	(0.09)	0.22	(0.22)	0.44	(0.35)	1.69
SMGXX	0.03	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	1.01
MDMTX	0.17	0.00	(0.24)	0.04	0.24	(0.23)	0.38	(0.56)	1.33
ABNTX	0.14	0.00	(0.42)	(0.05)	0.16	(0.17)	0.29	(0.30)	0.88
PAMFX	0.15	0.02	(0.25)	(0.12)	0.18	(0.19)	0.30	(0.39)	1.30
TFGXX	0.03	0.01	0.00	(0.38)	0.00	0.00	0.00	0.00	1.01
PRVHX	0.10	0.00	(0.79)	0.30	0.00	(0.10)	0.22	(0.20)	0.53
BBINX	0.12	0.01	(0.34)	(0.03)	0.14	(0.17)	0.29	(0.29)	1.07

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