Arbitrage Fund Correlations
| ARGAX Fund | USD 13.15 0.01 0.08% |
The current 90-days correlation between Arbitrage Fund and Lord Abbett Convertible is 0.21 (i.e., Modest diversification). The correlation of Arbitrage Fund 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 Fund Correlation With Market
Good diversification
The correlation between The Arbitrage Fund and DJI is -0.11 (i.e., Good 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.
Arbitrage |
Moving together with Arbitrage Mutual Fund
| 0.89 | BCLPX | Blckrk Lc Cr | PairCorr |
| 0.91 | BALPX | Blckrk Lc Cr | PairCorr |
| 0.92 | BILPX | Blkrk Lc Cr | PairCorr |
| 0.97 | MERIX | Merger Fund | PairCorr |
| 0.97 | MERFX | Merger Fund | PairCorr |
| 0.9 | VARAX | Vivaldi Merger Arbitrage | PairCorr |
| 0.9 | VARBX | Vivaldi Merger Arbitrage | PairCorr |
| 0.9 | VARCX | First Trust Merger | PairCorr |
| 1.0 | ARBCX | The Arbitrage | PairCorr |
| 1.0 | ARBNX | The Arbitrage | PairCorr |
| 0.69 | EMO | Clearbridge Energy Mlp | PairCorr |
| 0.67 | SPMPX | Invesco Steelpath Mlp | PairCorr |
| 0.66 | SPMJX | Invesco Steelpath Mlp | PairCorr |
| 0.61 | LSHEX | Kinetics Spin Off | PairCorr |
| 0.62 | CVX | Chevron Corp | PairCorr |
| 0.87 | GE | GE Aerospace | PairCorr |
Moving against Arbitrage Mutual Fund
| 0.67 | SMPSX | Semiconductor Ultrasector | PairCorr |
| 0.64 | SMPIX | Semiconductor Ultrasector | PairCorr |
| 0.4 | MSFT | Microsoft | PairCorr |
| 0.38 | AA | Alcoa Corp | PairCorr |
| 0.32 | PFE | Pfizer Inc | PairCorr |
Related Correlations Analysis
| 0.94 | 0.94 | 0.65 | 0.91 | -0.15 | LCFYX | ||
| 0.94 | 0.96 | 0.5 | 0.96 | -0.38 | XAVKX | ||
| 0.94 | 0.96 | 0.54 | 0.93 | -0.3 | PBXIX | ||
| 0.65 | 0.5 | 0.54 | 0.43 | 0.34 | GCV | ||
| 0.91 | 0.96 | 0.93 | 0.43 | -0.52 | VAADX | ||
| -0.15 | -0.38 | -0.3 | 0.34 | -0.52 | ARBOX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Arbitrage Mutual Fund performing well and Arbitrage Fund 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 Fund'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LCFYX | 0.63 | (0.02) | 0.00 | 0.87 | 0.00 | 1.12 | 3.20 | |||
| XAVKX | 0.51 | (0.04) | 0.00 | (4.85) | 0.00 | 0.90 | 2.56 | |||
| PBXIX | 0.41 | (0.04) | 0.00 | 1.53 | 0.00 | 0.81 | 2.66 | |||
| GCV | 0.82 | 0.05 | 0.09 | 1.20 | 1.01 | 1.90 | 5.53 | |||
| VAADX | 0.63 | (0.07) | 0.00 | 6.18 | 0.00 | 1.13 | 3.27 | |||
| ARBOX | 0.05 | 0.03 | 0.00 | 2.76 | 0.00 | 0.09 | 0.18 |