Absolute Convertible Correlations

ARBIX Fund

USD 11.44 0.01 0.09%

The current 90-days correlation between Absolute Convertible and Simt Real Estate is 0.06 (i.e., Significant diversification). The correlation of Absolute Convertible 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.

Absolute Convertible Correlation With Market

Average diversification

The correlation between Absolute Convertible Arbitrage and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Convertible Arbitrage 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 Absolute Convertible Arbitrage. 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 gross domestic product.

Moving together with Absolute Mutual Fund

0.68	ARBOX	Absolute Convertible	Pair Corr
0.82	CVSCX	Calamos Market Neutral	Pair Corr
0.87	CVSIX	Calamos Market Neutral	Pair Corr
0.87	CMNIX	Calamos Market Neutral	Pair Corr
0.97	ADAIX	Aqr Diversified Arbitrage	Pair Corr
0.87	ADANX	Aqr Diversified Arbitrage	Pair Corr
0.63	QDARX	Aqr Diversified Arbitrage	Pair Corr
0.73	FSAWX	Fidelity Sai Convertible	Pair Corr
0.83	NHS	Neuberger Berman High	Pair Corr
0.66	ABNOX	Ab Bond Inflation	Pair Corr
0.89	GIOIX	Guggenheim Macro Opp	Pair Corr
0.89	VICSX	Vanguard Intermediate-ter	Pair Corr
0.71	USGDX	Morgan Stanley Government	Pair Corr
0.68	HRBDX	Harbor Bond Fund	Pair Corr
0.71	EBSIX	Campbell Systematic Macro	Pair Corr
0.97	BISMX	Brandes International	Pair Corr

Related Correlations Analysis

	SEIRX	NMMRF	FREEX	REPIX	VREQX	RRSCX
SEIRX		0.32	0.85	0.99	0.99	0.96	SEIRX
NMMRF	0.32		0.34	0.32	0.28	0.15	NMMRF
FREEX	0.85	0.34		0.84	0.84	0.81	FREEX
REPIX	0.99	0.32	0.84		0.99	0.97	REPIX
VREQX	0.99	0.28	0.84	0.99		0.96	VREQX
RRSCX	0.96	0.15	0.81	0.97	0.96		RRSCX
	SEIRX	NMMRF	FREEX	REPIX	VREQX	RRSCX

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Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute Convertible 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 Absolute Convertible'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
SEIRX	0.87	0.07	0.06	0.06	1.05	(0.90)	1.69	(1.72)	4.42
NMMRF	0.07	0.03	0.00	0.35	0.00	0.00	0.00	0.00	2.35
FREEX	0.94	(0.05)	0.00	(0.10)	0.00	0.00	1.62	(1.78)	7.05
REPIX	1.30	0.13	0.07	0.08	1.64	(1.30)	2.69	(2.65)	7.54
VREQX	0.84	0.06	0.06	0.06	1.00	(0.92)	1.62	(1.69)	4.60
RRSCX	0.70	0.06	0.07	0.05	0.83	(0.75)	1.56	(1.35)	4.16

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Absolute Convertible Correlations

Absolute Convertible Correlation With Market

Average diversification

Moving together with Absolute Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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