City National Correlations

CNRWX Fund

USD 29.39 0.03 0.10%

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 housing.

Moving together with City Mutual Fund

1.0	CNRVX	City National Rochdale	Pair Corr
1.0	CNRUX	City National Rochdale	Pair Corr
0.86	RIMHX	City National Rochdale	Pair Corr
0.78	RIMOX	City National Rochdale	Pair Corr
0.99	VTSAX	Vanguard Total Stock	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.99	VTSMX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.99	VSMPX	Vanguard Total Stock	Pair Corr
0.99	VSTSX	Vanguard Total Stock	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.99	VFFSX	Vanguard 500 Index	Pair Corr
0.99	VINIX	Vanguard Institutional	Pair Corr
0.99	VIIIX	Vanguard Institutional	Pair Corr
0.74	FTCAX	Templeton Strained Bond	Pair Corr
0.9	PYARX	Payden Absolute Return	Pair Corr
0.89	BCAAX	Brandywineglobal C	Pair Corr
0.95	VIGAX	Vanguard Growth Index	Pair Corr
0.95	FTRNX	Fidelity Trend	Pair Corr
0.92	GVCAX	Gabelli Value	Pair Corr
0.82	AMECX	Income Fund	Pair Corr
0.95	WCPSX	Mobile Telecommunicatio	Pair Corr
0.94	FIVUX	First Investors Oppo	Pair Corr
0.93	FGRIX	Fidelity Growth Income	Pair Corr
0.75	FSUTX	Utilities Portfolio	Pair Corr
0.61	GOVXX	Money Market Obligations	Pair Corr
0.91	CRF	Cornerstone Strategic	Pair Corr
0.91	FTQGX	Fidelity Focused Stock	Pair Corr

Moving against City Mutual Fund

0.97	USPSX	Profunds Ultrashort	Pair Corr
0.97	USPIX	Profunds Ultrashort	Pair Corr
0.96	UIPIX	Ultrashort Mid Cap Steady Growth	Pair Corr

Related Correlations Analysis

	KYSMX	FTFZX	HYSZX	AOUNX	ASTIX	VMSSX	BXDCX
KYSMX		0.57	0.12	-0.25	-0.24	0.56	0.28	KYSMX
FTFZX	0.57		0.51	0.49	0.51	0.72	0.69	FTFZX
HYSZX	0.12	0.51		0.6	0.54	0.65	0.86	HYSZX
AOUNX	-0.25	0.49	0.6		0.82	0.2	0.63	AOUNX
ASTIX	-0.24	0.51	0.54	0.82		0.27	0.64	ASTIX
VMSSX	0.56	0.72	0.65	0.2	0.27		0.79	VMSSX
BXDCX	0.28	0.69	0.86	0.63	0.64	0.79		BXDCX
	KYSMX	FTFZX	HYSZX	AOUNX	ASTIX	VMSSX	BXDCX

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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

BXDCX	+ 0.86	HYSZX
ASTIX	+ 0.82	AOUNX
BXDCX	+ 0.79	VMSSX
VMSSX	+ 0.72	FTFZX
BXDCX	+ 0.69	FTFZX
VMSSX	+ 0.65	HYSZX

High negative correlations

AOUNX	- 0.25	KYSMX
ASTIX	- 0.24	KYSMX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
KYSMX	0.05	(0.01)	(0.40)	(0.27)	0.07	(0.19)	0.19	(0.19)	0.58
FTFZX	0.06	0.00	(0.61)	0.01	0.00	(0.12)	0.10	(0.10)	0.68
HYSZX	0.08	0.00	(0.67)	0.15	0.00	(0.17)	0.24	(0.24)	0.71
AOUNX	0.05	0.00	(1.00)	1.17	0.00	(0.18)	0.10	(0.10)	0.61
ASTIX	0.25	0.07	(0.10)	1.25	0.00	(0.31)	0.57	(0.43)	1.79
VMSSX	0.06	(0.01)	(0.50)	(0.18)	0.01	(0.24)	0.22	(0.22)	0.66
BXDCX	0.08	0.00	(0.85)	(0.11)	0.00	(0.14)	0.22	(0.11)	0.54

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