The Arbitrage Correlations

Mutual Funds . USA . 
Fund . The Arbitrage Event Driven
AEDFX Fund  USD 12.02  0.01  0.08%   
The current 90-days correlation between Arbitrage Event and Aqr Diversified Arbitrage is 0.23 (i.e., Modest diversification). The correlation of The Arbitrage 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.

The Arbitrage Correlation With Market

Very weak diversification

The correlation between The Arbitrage Event Driven and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage Event Driven 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 The Arbitrage Event Driven. 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 census.

Moving together with The Mutual Fund

  0.99ARBFX The ArbitragePairCorr
  0.99ARBCX The ArbitragePairCorr
  0.97ARGAX Arbitrage FundPairCorr
  0.9AGCAX Arbitrage CreditPairCorr
  0.9BCLPX Blckrk Lc CrPairCorr
  0.92BALPX Blckrk Lc CrPairCorr
  0.93BILPX Blkrk Lc CrPairCorr
  0.95MERIX Merger FundPairCorr
  0.9MERFX Merger FundPairCorr
  0.91VARAX Vivaldi Merger ArbitragePairCorr
  0.91VARBX Vivaldi Merger ArbitragePairCorr
  0.91VARCX First Trust MergerPairCorr
  0.97ARBNX The ArbitragePairCorr
  0.9PFN Pimco Income StrategyPairCorr
  0.63NXJ Nuveen New JerseyPairCorr
  0.81XPPRX Voya Prime RatePairCorr
  0.91PCF Putnam High IncomePairCorr
  0.71VICSX Vanguard Intermediate-terPairCorr
  0.82DBIWX Dws Global MacroPairCorr
  0.87EBSIX Campbell Systematic MacroPairCorr
  0.84ABNOX Ab Bond InflationPairCorr
  0.81BISMX Brandes InternationalPairCorr
  0.89ARBOX Absolute ConvertiblePairCorr
  0.9HTD John Hancock TaxPairCorr
  0.61USGDX Morgan Stanley GovernmentPairCorr
  0.9UTF Cohen And SteersPairCorr
  0.86GIOIX Guggenheim Macro OppPairCorr
  0.86SGDLX Sprott Gold EquityPairCorr
  0.87DLDFX Destinations Low DurationPairCorr
  0.68PGLSX Global Multi StrategyPairCorr
  0.74HWACX Hotchkis Wiley ValuePairCorr
  0.7HRBDX Harbor Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Arbitrage 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 The Arbitrage'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.

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