Liberty All Correlations

ASG Fund

USD 4.96 0.03 0.60%

The current 90-days correlation between Liberty All Star and Highland Opportunities And is 0.21 (i.e., Modest diversification). The correlation of Liberty All 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.

Liberty All Correlation With Market

Poor diversification

The correlation between Liberty All Star and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Liberty All Star 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 Liberty All Star. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Liberty Fund

0.85	TWN	Taiwan Closed	Pair Corr
0.65	IIF	Morgan Stanley India	Pair Corr
0.74	NOM	Nuveen Missouri Quality	Pair Corr

Moving against Liberty Fund

0.82	FSUGX	American Funds Government	Pair Corr
0.79	BRAMX	Bats Series M	Pair Corr
0.78	PRAPX	Pimco Total Return	Pair Corr
0.77	NWJJX	Nationwide Highmark Bond	Pair Corr
0.75	NECRX	Loomis Sayles E	Pair Corr
0.73	GQJPX	Gqg Partners Interna	Pair Corr
0.68	REMVX	Rbc Emerging Markets	Pair Corr
0.66	VMSAX	Vanguard Multi Sector	Pair Corr
0.65	NMT	Nuveen Massachusetts	Pair Corr
0.56	OWCIX	Old Westbury Credit	Pair Corr
0.56	TEMHX	Tiaa Cref Emerging	Pair Corr
0.54	FMY	First Trust Mortgage	Pair Corr
0.54	MIPIX	Matthews Asia Dividend	Pair Corr
0.52	HSXIX	Hartford Schroders	Pair Corr
0.48	RYWTX	Emerging Markets	Pair Corr
0.47	FHYIX	Franklin High Yield	Pair Corr
0.47	DMFZX	Destinations Municipal	Pair Corr
0.37	NHILX	Neuberger Berman High	Pair Corr
0.33	CITAX	American High Income	Pair Corr
0.83	HIO	Western Asset High	Pair Corr
0.8	TRIGX	T Rowe Price	Pair Corr
0.8	HIMZX	Virtus Low Duration	Pair Corr
0.79	WATCX	Western Asset Interm	Pair Corr
0.78	ACCSX	Access Capital Munity	Pair Corr
0.72	FXIDX	Fixed Income Shares	Pair Corr
0.7	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.67	MFIRX	Ms Global Fixed	Pair Corr
0.67	LIFAX	Lord Abbett Inflation	Pair Corr
0.67	FHKCX	Fidelity China Region	Pair Corr
0.66	NSITX	Northern Short-intermedia	Pair Corr
0.66	VTMGX	Vanguard Developed	Pair Corr

Related Correlations Analysis

	HFRO	GAB	TPVG	RQI	PEO	TY	RVT	CET	BST	BMEZ
HFRO		0.56	0.81	0.71	0.56	0.66	0.45	0.8	0.58	0.8	HFRO
GAB	0.56		0.56	0.75	0.41	0.44	0.09	0.56	0.2	0.72	GAB
TPVG	0.81	0.56		0.59	0.61	0.64	0.41	0.71	0.54	0.74	TPVG
RQI	0.71	0.75	0.59		0.39	0.43	0.0	0.52	0.21	0.71	RQI
PEO	0.56	0.41	0.61	0.39		0.28	0.26	0.44	0.34	0.63	PEO
TY	0.66	0.44	0.64	0.43	0.28		0.81	0.83	0.82	0.5	TY
RVT	0.45	0.09	0.41	0.0	0.26	0.81		0.74	0.9	0.31	RVT
CET	0.8	0.56	0.71	0.52	0.44	0.83	0.74		0.83	0.71	CET
BST	0.58	0.2	0.54	0.21	0.34	0.82	0.9	0.83		0.42	BST
BMEZ	0.8	0.72	0.74	0.71	0.63	0.5	0.31	0.71	0.42		BMEZ
	HFRO	GAB	TPVG	RQI	PEO	TY	RVT	CET	BST	BMEZ

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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

BST	+ 0.9	RVT
CET	+ 0.83	TY
BST	+ 0.83	CET
BST	+ 0.82	TY
TPVG	+ 0.81	HFRO
RVT	+ 0.81	TY

High negative correlations

RVT

- 0.0

RQI

Risk-Adjusted Indicators

There is a big difference between Liberty Fund performing well and Liberty All 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 Liberty All'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
HFRO	0.99	(0.06)	0.00	(0.25)	0.00	0.00	1.89	(2.41)	8.13
GAB	0.72	0.04	0.07	0.01	0.94	(0.90)	1.54	(1.64)	5.26
TPVG	1.45	(0.01)	0.00	(0.08)	0.00	0.00	3.25	(2.50)	11.80
RQI	0.88	(0.03)	0.05	0.04	1.30	(0.83)	1.81	(1.93)	4.75
PEO	0.88	0.09	0.10	0.13	1.22	(0.77)	1.79	(1.87)	5.71
TY	0.71	(0.14)	0.00	2.46	0.00	0.00	1.03	(1.43)	5.23
RVT	0.90	(0.14)	0.00	1.71	0.00	0.00	1.43	(1.97)	5.97
CET	0.56	(0.01)	0.00	(0.09)	0.00	0.00	0.94	(1.30)	3.19
BST	1.13	(0.12)	0.00	0.44	0.00	0.00	1.92	(2.99)	7.66
BMEZ	0.93	0.09	0.10	0.04	1.00	(1.10)	1.70	(1.48)	8.30

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