City National Correlations

Mutual Funds USA . 
Fund . City National Rochdale
CNRUX Fund  USD 29.77  0.03  0.10%   
The current 90-days correlation between City National Rochdale and Pace Municipal Fixed is 0.04 (i.e., Significant diversification). The correlation of City National 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.

City National Correlation With Market

Poor diversification

The correlation between City National Rochdale and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding City National Rochdale 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 City National Rochdale. 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 employment.

Moving together with City Mutual Fund

  1.0CNRVX City National RochdalePairCorr
  1.0CNRWX City National RochdalePairCorr
  0.86RIMHX City National RochdalePairCorr
  0.78RIMOX City National RochdalePairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  0.96VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  0.96VITSX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  0.96VFINX Vanguard 500 IndexPairCorr
  0.99VFFSX Vanguard 500 IndexPairCorr
  0.99VINIX Vanguard InstitutionalPairCorr
  0.99VIIIX Vanguard InstitutionalPairCorr
  0.74FTCAX Templeton Strained BondPairCorr
  0.9PYARX Payden Absolute ReturnPairCorr
  0.9BCAAX Brandywineglobal CPairCorr
  0.95VIGAX Vanguard Growth IndexPairCorr
  0.96FTRNX Fidelity TrendPairCorr
  0.92GVCAX Gabelli ValuePairCorr
  0.82AMECX Income FundPairCorr
  0.95WCPSX Mobile TelecommunicatioPairCorr
  0.94FIVUX First Investors OppoPairCorr
  0.93FGRIX Fidelity Growth IncomePairCorr
  0.75FSUTX Utilities PortfolioPairCorr
  0.61GOVXX Money Market ObligationsPairCorr
  0.91CRF Cornerstone StrategicPairCorr
  0.91FTQGX Fidelity Focused StockPairCorr

Moving against City Mutual Fund

  0.97USPSX Profunds UltrashortPairCorr
  0.97USPIX Profunds UltrashortPairCorr
  0.96UIPIX Ultrashort Mid Cap Steady GrowthPairCorr

Related Correlations Analysis

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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   
OWMBX
+ 0.99
PCMNX
PRINX
+ 0.98
MSTPX
PRINX
+ 0.96
FHYVX
PATFX
+ 0.96
PRINX
FHYVX
+ 0.95
MSTPX
PATFX
+ 0.94
MSTPX
  
High negative correlations   
GABTX
- 0.2
OWMBX
GABTX
- 0.11
PCMNX

Risk-Adjusted Indicators

There is a big difference between City Mutual Fund performing well and City National 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 City National'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.

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