ALM Classic Correlations
| 0P00000PWH | EUR 375.12 0.80 0.21% |
The current 90-days correlation between ALM Classic RA and Cobas Global PP is 0.1 (i.e., Average diversification). The correlation of ALM Classic 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.
ALM Classic Correlation With Market
Modest diversification
The correlation between ALM Classic RA and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALM Classic RA and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to ALM Classic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ALM Classic when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ALM Classic - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ALM Classic RA to buy it.
Moving together with ALM Fund
| 0.67 | JPJJ | JPM Europe Small | PairCorr |
| 0.69 | 0P0000GHOY | Amundi Label Equilibre | PairCorr |
| 0.63 | E908 | Lyxor 1 | PairCorr |
Moving against ALM Fund
Related Correlations Analysis
| 0.4 | 0.78 | 0.05 | 0.35 | 0.73 | 0P0001BICH | ||
| 0.4 | 0.36 | 0.48 | 0.55 | 0.31 | 0P00000RPB | ||
| 0.78 | 0.36 | 0.33 | 0.43 | 0.93 | 0P000019H0 | ||
| 0.05 | 0.48 | 0.33 | 0.5 | 0.27 | FH7W | ||
| 0.35 | 0.55 | 0.43 | 0.5 | 0.43 | JYJ7 | ||
| 0.73 | 0.31 | 0.93 | 0.27 | 0.43 | 0P0000J4OR | ||
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Risk-Adjusted Indicators
There is a big difference between ALM Fund performing well and ALM Classic 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 ALM Classic'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 0P0001BICH | 0.52 | 0.03 | 0.23 | (0.19) | 0.63 | 1.31 | 5.46 | |||
| 0P00000RPB | 0.40 | (0.06) | 0.00 | 0.65 | 0.00 | 0.54 | 3.12 | |||
| 0P000019H0 | 0.58 | (0.06) | 0.00 | 0.16 | 0.00 | 1.38 | 4.08 | |||
| FH7W | 0.38 | (0.03) | 0.00 | (0.38) | 0.00 | 0.62 | 3.02 | |||
| JYJ7 | 0.87 | (0.06) | 0.00 | (0.83) | 0.00 | 1.57 | 4.62 | |||
| 0P0000J4OR | 0.80 | 0.04 | 0.08 | 0.00 | 1.35 | 1.52 | 5.41 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ALM Classic without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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