The Arbitrage Correlations

ARBNX Fund

USD 13.60 0.00 0.00%

The current 90-days correlation between The Arbitrage and Goldman Sachs High is -0.05 (i.e., Good 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

Average diversification

The correlation between The Arbitrage Fund and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage 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 The Arbitrage 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 board of governors.

Moving together with The Mutual Fund

0.91	ARBFX	The Arbitrage	Pair Corr
0.9	ARBCX	The Arbitrage	Pair Corr
0.91	ARGAX	The Arbitrage	Pair Corr
0.88	AEDNX	Arbitrage Event	Pair Corr
0.86	AEDFX	Arbitrage Event	Pair Corr
0.75	AGEAX	Arbitrage Event	Pair Corr
0.76	MERIX	Merger Fund	Pair Corr
0.74	MERFX	Merger Fund	Pair Corr
0.63	VARAX	Vivaldi Merger Arbitrage	Pair Corr
0.64	VARBX	Vivaldi Merger Arbitrage	Pair Corr
0.62	VARCX	First Trust Merger	Pair Corr
0.76	GMCQX	Gmo Equity Allocation	Pair Corr
0.63	WCPSX	Mobile Telecommunicatio	Pair Corr
0.76	WMKGX	Wesmark Growth	Pair Corr
0.74	IGIVX	Integrity Growth Income	Pair Corr
0.71	FAAIX	Fidelity Asset Manager	Pair Corr
0.73	RGEBX	Growth Fund	Pair Corr
0.71	DNSPX	Dunham Enhanced Market	Pair Corr
0.66	HWAAX	Hotchkis Wiley Value	Pair Corr

Moving against The Mutual Fund

0.47	FMFFX	Fs Managed Futures	Pair Corr
0.35	UVABX	Virginia Bond	Pair Corr

Related Correlations Analysis

	GGMPX	CBSYX	PARCX	AGTFX	PHDTX	FCSIX	WAHSX
GGMPX		0.59	0.67	0.62	0.77	0.81	0.89	GGMPX
CBSYX	0.59		0.67	0.5	0.39	0.3	0.41	CBSYX
PARCX	0.67	0.67		0.97	0.84	0.78	0.77	PARCX
AGTFX	0.62	0.5	0.97		0.89	0.83	0.8	AGTFX
PHDTX	0.77	0.39	0.84	0.89		0.94	0.94	PHDTX
FCSIX	0.81	0.3	0.78	0.83	0.94		0.96	FCSIX
WAHSX	0.89	0.41	0.77	0.8	0.94	0.96		WAHSX
	GGMPX	CBSYX	PARCX	AGTFX	PHDTX	FCSIX	WAHSX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GGMPX	0.12	0.01	(0.42)	3.59	0.00	(0.26)	0.35	(0.18)	1.07
CBSYX	0.32	(0.01)	(0.20)	0.08	0.36	(0.35)	0.62	(0.67)	1.85
PARCX	0.34	(0.02)	(0.15)	0.08	0.40	(0.36)	0.66	(0.76)	2.10
AGTFX	0.52	(0.02)	(0.07)	0.09	0.56	(0.61)	1.15	(0.88)	3.06
PHDTX	0.09	0.02	(0.58)	2.78	0.00	(0.15)	0.23	(0.11)	0.56
FCSIX	0.12	0.04	(0.42)	(1.32)	0.00	(0.28)	0.60	(0.15)	0.92
WAHSX	0.13	0.03	(0.46)	(2.73)	0.00	(0.24)	0.43	(0.14)	0.86

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