Arbitrage Event Correlations

AGEAX Fund

USD 12.01 0.04 0.33%

The current 90-days correlation between Arbitrage Event and Redwood Real Estate is -0.03 (i.e., Good diversification). The correlation of Arbitrage Event 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.

Arbitrage Event Correlation With Market

Modest diversification

The correlation between The Arbitrage Event Driven and DJI is 0.23 (i.e., Modest 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 nation.

Moving together with Arbitrage Mutual Fund

0.98	ARBNX	The Arbitrage	Pair Corr
0.98	ARBFX	The Arbitrage	Pair Corr
0.96	ARBCX	The Arbitrage	Pair Corr
0.9	ARCFX	Arbitrage Credit	Pair Corr
0.98	ARGAX	The Arbitrage	Pair Corr
0.89	ACFIX	Arbitrage Credit	Pair Corr
1.0	AEDNX	Arbitrage Event	Pair Corr
1.0	AEDFX	Arbitrage Event	Pair Corr
0.91	AGCAX	Arbitrage Credit	Pair Corr
0.68	BCLPX	Blckrk Lc Cr	Pair Corr
0.78	BALPX	Blckrk Lc Cr	Pair Corr
0.79	BILPX	Blkrk Lc Cr	Pair Corr
0.84	MERIX	Merger Fund	Pair Corr
0.84	MERFX	Merger Fund	Pair Corr
0.87	PFN	Pimco Income Strategy	Pair Corr
0.67	CIF	Mfs Intermediate High	Pair Corr
0.7	XPPRX	Voya Prime Rate	Pair Corr
0.75	PCF	Putnam High Income	Pair Corr
0.67	EVCGX	Eaton Vance Greater	Pair Corr
0.87	TUHYX	T Rowe Price	Pair Corr
0.69	ABNCX	Ab Bond Inflation	Pair Corr
0.77	BBHLX	Bbh Partner Fund	Pair Corr
0.86	BNDIX	Total Return Bond	Pair Corr
0.73	BSIKX	Blackrock Strategic	Pair Corr
0.67	TTSMX	Tennessee Tax Free	Pair Corr
0.71	PELBX	Pimco Emerging Local	Pair Corr
0.8	RA	Brookfield Real Assets	Pair Corr

Moving against Arbitrage Mutual Fund

0.42	XNXJX	Nuveen New Jersey	Pair Corr
0.39	XDSMX	Dreyfus Strategic	Pair Corr
0.32	XNBHX	Neuberger Berman Int	Pair Corr
0.39	RYCWX	Inverse Dow 2x	Pair Corr

Related Correlations Analysis

	CREMX	PJEAX	IVRSX	VREQX	NMMRF	FORFX	RRRZX	PREJX
CREMX		-0.34	-0.41	-0.37	0.12	0.99	-0.43	-0.42	CREMX
PJEAX	-0.34		1.0	0.99	0.11	-0.34	0.99	0.98	PJEAX
IVRSX	-0.41	1.0		1.0	0.1	-0.41	1.0	0.99	IVRSX
VREQX	-0.37	0.99	1.0		0.13	-0.37	1.0	0.99	VREQX
NMMRF	0.12	0.11	0.1	0.13		0.19	0.11	0.14	NMMRF
FORFX	0.99	-0.34	-0.41	-0.37	0.19		-0.43	-0.41	FORFX
RRRZX	-0.43	0.99	1.0	1.0	0.11	-0.43		0.99	RRRZX
PREJX	-0.42	0.98	0.99	0.99	0.14	-0.41	0.99		PREJX
	CREMX	PJEAX	IVRSX	VREQX	NMMRF	FORFX	RRRZX	PREJX

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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

IVRSX	+ 1.0	PJEAX
VREQX	+ 1.0	IVRSX
RRRZX	+ 1.0	IVRSX
RRRZX	+ 1.0	VREQX
FORFX	+ 0.99	CREMX
VREQX	+ 0.99	PJEAX

High negative correlations

RRRZX	- 0.43	FORFX
RRRZX	- 0.43	CREMX
PREJX	- 0.42	CREMX
PREJX	- 0.41	FORFX
FORFX	- 0.41	IVRSX
IVRSX	- 0.41	CREMX

Risk-Adjusted Indicators

There is a big difference between Arbitrage Mutual Fund performing well and Arbitrage Event 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 Arbitrage Event'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CREMX	0.04	0.01	0.88	0.08	0.00	0.72
PJEAX	0.75	(0.02)	(0.06)	1.57	(1.53)	5.14
IVRSX	0.75	(0.02)	(0.06)	1.31	(1.57)	5.04
VREQX	0.77	(0.01)	(0.04)	1.43	(1.52)	5.16
NMMRF	0.07	0.02	(0.88)	0.00	0.00	0.00
FORFX	0.06	0.02	1.70	0.11	0.00	0.72
RRRZX	0.78	(0.02)	(0.07)	1.61	(1.62)	5.26
PREJX	0.81	(0.01)	(0.04)	1.51	(1.89)	4.85

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