New Germany Correlations

GF Fund

USD 8.13 0.07 0.87%

The current 90-days correlation between New Germany Closed and First Trust Dynamic is 0.02 (i.e., Significant diversification). The correlation of New Germany 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.

New Germany Correlation With Market

Good diversification

The correlation between New Germany Closed and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Germany Closed and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in New Germany Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with New Fund

0.75

PFE

Pfizer Inc Fiscal Year End 4th of February 2025

Pair Corr

Moving against New Fund

0.72	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.7	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.69	FEN	First Trust Energy	Pair Corr
0.67	DIS	Walt Disney Aggressive Push	Pair Corr
0.65	FPL	First Trust New	Pair Corr
0.64	WMT	Walmart Aggressive Push	Pair Corr
0.62	MFD	Macquariefirst Tr Global	Pair Corr
0.53	FIF	First Trust Energy	Pair Corr
0.53	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.45	CUBA	Herzfeld Caribbean Basin	Pair Corr
0.42	BDJ	Blackrock Enhanced Equity	Pair Corr
0.41	AWRRF	AW Revenue Royalties	Pair Corr
0.39	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.37	FGB	First Trust Specialty	Pair Corr

Related Correlations Analysis

	FDEU	EICA	HYI	NNY	HIO	GDO	EHI	EEA	HTY	CMU
FDEU		0.31	-0.03	-0.41	0.13	-0.38	-0.01	-0.45	0.79	-0.09	FDEU
EICA	0.31		0.57	-0.51	0.54	-0.73	-0.48	-0.77	0.2	0.02	EICA
HYI	-0.03	0.57		0.18	0.79	-0.11	0.05	-0.15	-0.36	0.42	HYI
NNY	-0.41	-0.51	0.18		0.19	0.82	0.61	0.82	-0.66	0.65	NNY
HIO	0.13	0.54	0.79	0.19		-0.19	0.05	-0.23	-0.18	0.42	HIO
GDO	-0.38	-0.73	-0.11	0.82	-0.19		0.74	0.94	-0.57	0.4	GDO
EHI	-0.01	-0.48	0.05	0.61	0.05	0.74		0.7	-0.27	0.25	EHI
EEA	-0.45	-0.77	-0.15	0.82	-0.23	0.94	0.7		-0.58	0.29	EEA
HTY	0.79	0.2	-0.36	-0.66	-0.18	-0.57	-0.27	-0.58		-0.45	HTY
CMU	-0.09	0.02	0.42	0.65	0.42	0.4	0.25	0.29	-0.45		CMU
	FDEU	EICA	HYI	NNY	HIO	GDO	EHI	EEA	HTY	CMU

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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

EEA	+ 0.94	GDO
GDO	+ 0.82	NNY
EEA	+ 0.82	NNY
HTY	+ 0.79	FDEU
HIO	+ 0.79	HYI
EHI	+ 0.74	GDO

High negative correlations

EEA	- 0.77	EICA
GDO	- 0.73	EICA
HTY	- 0.66	NNY
HTY	- 0.58	EEA
HTY	- 0.57	GDO
NNY	- 0.51	EICA

Risk-Adjusted Indicators

There is a big difference between New Fund performing well and New Germany 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 New Germany'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
FDEU	0.69	0.10	(0.06)	(0.46)	0.69	(0.76)	1.64	(1.27)	3.56
EICA	0.20	0.04	(0.35)	1.02	0.00	(0.29)	0.47	(0.34)	1.72
HYI	0.44	0.04	(0.14)	0.64	0.47	(0.51)	1.18	(0.99)	2.55
NNY	0.26	(0.02)	0.00	(0.29)	0.00	0.00	0.70	(0.59)	1.67
HIO	0.44	0.03	(0.10)	0.25	0.42	(0.61)	1.28	(1.01)	2.84
GDO	0.39	(0.11)	0.00	(1.12)	0.00	0.00	0.72	(0.98)	2.01
EHI	0.59	(0.05)	0.00	(0.21)	0.00	0.00	1.20	(1.19)	3.14
EEA	0.66	(0.14)	0.00	(1.32)	0.00	0.00	1.12	(1.70)	4.08
HTY	0.61	0.05	(0.11)	(0.26)	0.68	(0.74)	1.37	(1.35)	3.51
CMU	0.41	0.07	(0.12)	(0.35)	0.41	(0.54)	1.11	(0.84)	2.54

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