Easterly Snow Correlations

SNORX Fund

USD 33.75 0.22 0.65%

The current 90-days correlation between Easterly Snow Longshort and SCOR PK is -0.15 (i.e., Good diversification). The correlation of Easterly Snow 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.

Easterly Snow Correlation With Market

Poor diversification

The correlation between Easterly Snow Longshort and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Easterly Snow Longshort and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Easterly Snow Longshort. 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 metropolitan statistical area.

Moving together with Easterly Mutual Fund

0.86	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.86	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.86	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.85	GTENX	Gateway Fund Class	Pair Corr
0.85	GTECX	Gateway Fund Class	Pair Corr
0.85	GTEYX	Gateway Fund Class	Pair Corr
0.85	GATEX	Gateway Fund Class	Pair Corr
0.82	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.86	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.82	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.75	XNKGX	Nuveen Georgia Quality	Pair Corr
0.72	PCF	Putnam High Income	Pair Corr
0.79	FSUTX	Utilities Portfolio	Pair Corr
0.78	ACP	Aberdeen Income Credit	Pair Corr
0.83	CLM	Cornerstone Strategic	Pair Corr
0.82	FZROX	Fidelity Zero Total	Pair Corr
0.83	ELFNX	Elfun Trusts Elfun	Pair Corr
0.81	AMGOX	Alger Mid Cap	Pair Corr
0.93	FIVUX	First Investors Oppo	Pair Corr
0.84	GVCAX	Gabelli Value	Pair Corr
0.81	VFINX	Vanguard 500 Index	Pair Corr
0.81	AMECX	Income Fund	Pair Corr
0.66	RGGEX	American Funds Global	Pair Corr

Moving against Easterly Mutual Fund

0.58	XNXJX	Nuveen New Jersey	Pair Corr
0.49	NXJ	Nuveen New Jersey	Pair Corr
0.57	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI	FPCG
SCRYY		0.4	0.56	0.76	-0.21	-0.34	0.51	-0.38	0.4	0.0	SCRYY
MSTSX	0.4		0.67	0.08	-0.12	0.13	0.23	-0.36	0.09	0.0	MSTSX
LBHIX	0.56	0.67		0.48	-0.05	0.0	0.4	-0.27	0.24	0.0	LBHIX
VIASP	0.76	0.08	0.48		-0.33	-0.14	0.71	-0.43	0.66	0.0	VIASP
XTWO	-0.21	-0.12	-0.05	-0.33		-0.6	-0.7	0.91	-0.75	0.0	XTWO
SVII	-0.34	0.13	0.0	-0.14	-0.6		0.37	-0.49	0.44	0.0	SVII
70082LAB3	0.51	0.23	0.4	0.71	-0.7	0.37		-0.75	0.93	0.0	70082LAB3
XTWY	-0.38	-0.36	-0.27	-0.43	0.91	-0.49	-0.75		-0.78	0.0	XTWY
SEGI	0.4	0.09	0.24	0.66	-0.75	0.44	0.93	-0.78		0.0	SEGI
FPCG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		FPCG
	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI	FPCG

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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

SEGI	+ 0.93	70082LAB3
XTWY	+ 0.91	XTWO
VIASP	+ 0.76	SCRYY
70082LAB3	+ 0.71	VIASP
LBHIX	+ 0.67	MSTSX
SEGI	+ 0.66	VIASP

High negative correlations

SEGI	- 0.78	XTWY
XTWY	- 0.75	70082LAB3
SEGI	- 0.75	XTWO
70082LAB3	- 0.7	XTWO
SVII	- 0.6	XTWO
XTWY	- 0.49	SVII

Risk-Adjusted Indicators

There is a big difference between Easterly Mutual Fund performing well and Easterly Snow 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 Easterly Snow'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
SCRYY	1.93	0.45	0.12	(0.71)	1.74	(2.85)	5.61	(3.52)	12.99
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
LBHIX	0.10	0.01	(0.41)	0.24	0.00	(0.25)	0.24	(0.24)	0.71
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
XTWO	0.08	(0.01)	0.00	1.07	0.00	0.00	0.14	(0.12)	0.55
SVII	0.18	0.00	(0.17)	0.24	0.39	(0.29)	0.44	(0.53)	4.77
70082LAB3	0.70	0.09	(0.03)	(0.69)	0.99	(0.84)	1.75	(1.19)	6.86
XTWY	0.76	(0.10)	0.00	0.98	0.00	0.00	1.33	(1.70)	5.49
SEGI	10.19	2.80	0.16	(1.15)	9.90	(16.01)	28.57	(18.18)	62.86
FPCG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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