361 Global Correlations

AGAQX Fund

USD 12.58 0.02 0.16%

The current 90-days correlation between 361 Global Longshort and Diamond Hill Long Short is 0.55 (i.e., Very weak diversification). The correlation of 361 Global 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.

361 Global Correlation With Market

Poor diversification

The correlation between 361 Global Longshort and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 361 Global Longshort 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 361 Global 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 producer price index.

Moving together with 361 Mutual Fund

1.0	AGAZX	361 Global Longshort	Pair Corr
1.0	AGAWX	361 Global Longshort	Pair Corr
0.62	EOD	Allspring Global Dividend	Pair Corr
0.65	PDI	Pimco Dynamic Income Sell-off Trend	Pair Corr
0.66	TWN	Taiwan Closed	Pair Corr

Related Correlations Analysis

	DHLSX	PWLMX	SCRYY	MSTSX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI
DHLSX		0.28	-0.31	0.42	-0.46	0.28	0.1	-0.35	0.11	-0.39	DHLSX
PWLMX	0.28		0.55	0.6	0.31	0.21	-0.34	0.1	0.02	-0.06	PWLMX
SCRYY	-0.31	0.55		0.4	0.76	-0.21	-0.34	0.51	-0.38	0.4	SCRYY
MSTSX	0.42	0.6	0.4		0.08	-0.12	0.13	0.23	-0.36	0.09	MSTSX
VIASP	-0.46	0.31	0.76	0.08		-0.33	-0.14	0.71	-0.43	0.66	VIASP
XTWO	0.28	0.21	-0.21	-0.12	-0.33		-0.6	-0.7	0.91	-0.75	XTWO
SVII	0.1	-0.34	-0.34	0.13	-0.14	-0.6		0.37	-0.49	0.44	SVII
70082LAB3	-0.35	0.1	0.51	0.23	0.71	-0.7	0.37		-0.75	0.93	70082LAB3
XTWY	0.11	0.02	-0.38	-0.36	-0.43	0.91	-0.49	-0.75		-0.78	XTWY
SEGI	-0.39	-0.06	0.4	0.09	0.66	-0.75	0.44	0.93	-0.78		SEGI
	DHLSX	PWLMX	SCRYY	MSTSX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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
SEGI	+ 0.66	VIASP
MSTSX	+ 0.6	PWLMX

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 361 Mutual Fund performing well and 361 Global 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 361 Global'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
DHLSX	0.31	(0.04)	(0.27)	0.01	0.37	(0.35)	0.70	(0.74)	2.22
PWLMX	0.26	(0.02)	(0.29)	0.01	0.28	(0.36)	0.61	(0.49)	1.84
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
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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC