Deutsche Strategic Correlations

NOTCX Fund

USD 10.95 0.03 0.27%

The current 90-days correlation between Deutsche Strategic High and Deutsche Gnma Fund is 0.49 (i.e., Very weak diversification). The correlation of Deutsche Strategic 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.

Deutsche Strategic Correlation With Market

Very good diversification

The correlation between Deutsche Strategic High and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Strategic High and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Deutsche Strategic High. 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 main economic indicators.

Moving together with Deutsche Mutual Fund

0.91	SRMAX	Deutsche Short Term	Pair Corr
0.91	SRMCX	Deutsche Short Term	Pair Corr
0.93	SRMSX	Deutsche Short Term	Pair Corr
1.0	NOTAX	Deutsche Strategic High	Pair Corr
0.99	NOTIX	Deutsche Strategic High	Pair Corr
0.93	KCTCX	Deutsche California Tax	Pair Corr
0.95	KCTAX	Deutsche California Tax	Pair Corr
0.98	SCMAX	Deutsche Massachusetts	Pair Corr
0.99	SCMBX	Deutsche Managed Mun	Pair Corr
0.96	SCMTX	Deutsche Intermediate	Pair Corr
0.61	SCSBX	Deutsche E Plus	Pair Corr

Related Correlations Analysis

	GCGGX	SRMAX	SRMCX	KTCCX	KTCAX	KTCIX	KTCSX	SRMSX	KTRAX	KTRCX
GCGGX		0.4	0.76	-0.79	-0.79	-0.79	-0.79	0.43	0.0	0.05	GCGGX
SRMAX	0.4		0.82	-0.06	-0.06	-0.06	-0.06	0.97	0.37	0.38	SRMAX
SRMCX	0.76	0.82		-0.44	-0.44	-0.44	-0.44	0.87	0.21	0.25	SRMCX
KTCCX	-0.79	-0.06	-0.44		1.0	1.0	1.0	-0.07	0.54	0.49	KTCCX
KTCAX	-0.79	-0.06	-0.44	1.0		1.0	1.0	-0.07	0.54	0.49	KTCAX
KTCIX	-0.79	-0.06	-0.44	1.0	1.0		1.0	-0.07	0.54	0.49	KTCIX
KTCSX	-0.79	-0.06	-0.44	1.0	1.0	1.0		-0.07	0.54	0.49	KTCSX
SRMSX	0.43	0.97	0.87	-0.07	-0.07	-0.07	-0.07		0.39	0.41	SRMSX
KTRAX	0.0	0.37	0.21	0.54	0.54	0.54	0.54	0.39		1.0	KTRAX
KTRCX	0.05	0.38	0.25	0.49	0.49	0.49	0.49	0.41	1.0		KTRCX
	GCGGX	SRMAX	SRMCX	KTCCX	KTCAX	KTCIX	KTCSX	SRMSX	KTRAX	KTRCX

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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

KTCAX	+ 1.0	KTCCX
KTCIX	+ 1.0	KTCCX
KTCSX	+ 1.0	KTCCX
KTCIX	+ 1.0	KTCAX
KTCSX	+ 1.0	KTCAX
KTCSX	+ 1.0	KTCIX

High negative correlations

KTCSX	- 0.79	GCGGX
KTCIX	- 0.79	GCGGX
KTCAX	- 0.79	GCGGX
KTCCX	- 0.79	GCGGX
KTCSX	- 0.44	SRMCX
KTCIX	- 0.44	SRMCX

Risk-Adjusted Indicators

There is a big difference between Deutsche Mutual Fund performing well and Deutsche Strategic 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 Deutsche Strategic'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
GCGGX	0.25	(0.03)	0.00	1.10	0.00	0.00	0.42	(0.68)	1.81
SRMAX	0.06	0.00	(0.81)	0.09	0.00	(0.14)	0.20	(0.10)	0.61
SRMCX	0.04	0.00	(0.80)	0.23	0.00	(0.13)	0.10	(0.10)	0.51
KTCCX	0.79	0.00	0.00	0.13	1.13	(0.74)	1.98	(2.31)	5.78
KTCAX	0.78	0.01	0.00	0.13	1.16	(0.73)	1.99	(2.30)	5.78
KTCIX	0.79	0.01	0.00	0.13	1.16	(0.73)	1.97	(2.30)	5.77
KTCSX	0.78	0.01	0.00	0.14	1.19	(0.73)	1.99	(2.31)	5.81
SRMSX	0.05	0.00	(0.84)	0.09	0.00	(0.14)	0.20	(0.10)	0.61
KTRAX	0.34	(0.03)	(0.24)	0.04	0.41	(0.36)	0.70	(0.79)	2.18
KTRCX	0.32	(0.03)	(0.26)	0.03	0.37	(0.36)	0.70	(0.70)	2.18

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