Maingate Mlp Correlations

AMLPX Fund

USD 9.77 0.05 0.51%

The current 90-days correlation between Maingate Mlp and Lord Abbett Short is -0.03 (i.e., Good diversification). The correlation of Maingate Mlp 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.

Maingate Mlp Correlation With Market

Weak diversification

The correlation between Maingate Mlp Fund and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Maingate Mlp Fund 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 Maingate Mlp Fund. 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 american community survey.

Moving together with Maingate Mutual Fund

1.0	MLCPX	Maingate Mlp	Pair Corr
1.0	IMLPX	Maingate Mlp	Pair Corr
0.98	TORCX	Tortoise Mlp Pipeline	Pair Corr
0.99	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.99	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.99	GMLPX	Goldman Sachs Mlp	Pair Corr
0.99	GLPIX	Goldman Sachs Mlp	Pair Corr
0.99	GLPRX	Goldman Sachs Mlp	Pair Corr
0.88	ASG	Liberty All Star	Pair Corr
0.8	CII	Blackrock Enhanced	Pair Corr
0.92	ETV	Eaton Vance Tax	Pair Corr
0.94	CLM	Cornerstone Strategic	Pair Corr
0.92	CRF	Cornerstone Strategic Sell-off Trend	Pair Corr
0.89	USA	Liberty All Star	Pair Corr
0.87	ETY	Eaton Vance Tax	Pair Corr
0.68	NFJ	Virtus Dividend Interest	Pair Corr
0.8	TFBRX	American Beacon Twen	Pair Corr
0.89	PRWAX	T Rowe Price	Pair Corr
0.87	DODGX	Dodge Stock Fund	Pair Corr
0.86	VIGIX	Vanguard Growth Index	Pair Corr
0.65	FLTTX	Wisdomtree Floating Rate	Pair Corr
0.89	GAB	Gabelli Equity Trust	Pair Corr
0.95	CMGIX	Blackrock Mid Cap	Pair Corr
0.9	ADX	Adams Diversified Equity	Pair Corr
0.75	FTQGX	Fidelity Focused Stock	Pair Corr
0.86	VIGAX	Vanguard Growth Index	Pair Corr
0.73	GMAWX	Gmo Small Cap Downward Rally	Pair Corr
0.81	BDJ	Blackrock Enhanced Equity	Pair Corr
0.92	VEXRX	Vanguard Explorer	Pair Corr

Moving against Maingate Mutual Fund

0.65	IFN	India Closed	Pair Corr
0.44	JEVAX	Emerging Markets	Pair Corr

Related Correlations Analysis

	LOLDX	TSDCX	HYSZX	RSDIX	CMGUX	AOUNX	OWSBX	QLENX
LOLDX		0.21	0.62	0.82	0.0	0.09	0.74	0.17	LOLDX
TSDCX	0.21		0.5	0.4	0.92	0.91	-0.09	0.88	TSDCX
HYSZX	0.62	0.5		0.47	0.5	0.58	0.18	0.41	HYSZX
RSDIX	0.82	0.4	0.47		0.08	0.18	0.84	0.31	RSDIX
CMGUX	0.0	0.92	0.5	0.08		0.97	-0.41	0.79	CMGUX
AOUNX	0.09	0.91	0.58	0.18	0.97		-0.3	0.74	AOUNX
OWSBX	0.74	-0.09	0.18	0.84	-0.41	-0.3		-0.08	OWSBX
QLENX	0.17	0.88	0.41	0.31	0.79	0.74	-0.08		QLENX
	LOLDX	TSDCX	HYSZX	RSDIX	CMGUX	AOUNX	OWSBX	QLENX

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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

AOUNX	+ 0.97	CMGUX
CMGUX	+ 0.92	TSDCX
AOUNX	+ 0.91	TSDCX
QLENX	+ 0.88	TSDCX
OWSBX	+ 0.84	RSDIX
RSDIX	+ 0.82	LOLDX

High negative correlations

OWSBX	- 0.41	CMGUX
OWSBX	- 0.3	AOUNX
OWSBX	- 0.09	TSDCX
QLENX	- 0.08	OWSBX
CMGUX	- 0.0	LOLDX

Risk-Adjusted Indicators

There is a big difference between Maingate Mutual Fund performing well and Maingate Mlp 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 Maingate Mlp'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
LOLDX	0.05	0.00	(0.34)	0.30	0.05	(0.30)	0.26	(0.26)	0.78
TSDCX	0.06	0.01	(0.68)	(0.64)	0.00	(0.19)	0.11	(0.11)	0.55
HYSZX	0.09	0.00	(0.56)	(0.04)	0.00	(0.17)	0.24	(0.24)	0.71
RSDIX	0.08	0.00	(0.70)	0.78	0.06	(0.15)	0.21	(0.10)	0.62
CMGUX	0.04	0.01	0.00	(0.56)	0.00	0.00	0.11	0.00	0.65
AOUNX	0.04	0.00	(0.82)	(0.14)	0.00	(0.19)	0.10	(0.10)	0.61
OWSBX	0.07	(0.01)	(0.77)	2.49	0.09	(0.12)	0.20	(0.10)	0.49
QLENX	0.36	0.09	0.06	0.33	0.14	(0.45)	0.84	(0.57)	2.82

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