Advent Claymore Correlations

AVK Fund

USD 11.75 0.09 0.76%

The current 90-days correlation between Advent Claymore Conv and Nuveen Global High is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Advent Claymore moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advent Claymore Convertible moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Advent Claymore Correlation With Market

Very weak diversification

The correlation between Advent Claymore Convertible and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible 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 Advent Claymore Convertible. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Advent Fund

0.76	CSQ	Calamos Strategic Total	Pair Corr
0.62	STFGX	State Farm Growth	Pair Corr
0.89	PGLSX	Global Multi Strategy	Pair Corr
0.81	HWACX	Hotchkis Wiley Value	Pair Corr

Related Correlations Analysis

	JSD	JGH	NSL	BGB	TBLD	WDI	GBAB	RLTY	BWG	EHI
JSD		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	JSD
JGH	0.0		0.0	0.71	0.63	0.97	0.77	0.85	0.74	0.8	JGH
NSL	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	NSL
BGB	0.0	0.71	0.0		0.04	0.76	0.35	0.46	0.16	0.42	BGB
TBLD	0.0	0.63	0.0	0.04		0.58	0.67	0.78	0.96	0.76	TBLD
WDI	0.0	0.97	0.0	0.76	0.58		0.73	0.83	0.69	0.8	WDI
GBAB	0.0	0.77	0.0	0.35	0.67	0.73		0.8	0.78	0.74	GBAB
RLTY	0.0	0.85	0.0	0.46	0.78	0.83	0.8		0.86	0.9	RLTY
BWG	0.0	0.74	0.0	0.16	0.96	0.69	0.78	0.86		0.83	BWG
EHI	0.0	0.8	0.0	0.42	0.76	0.8	0.74	0.9	0.83		EHI
	JSD	JGH	NSL	BGB	TBLD	WDI	GBAB	RLTY	BWG	EHI

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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

WDI	+ 0.97	JGH
BWG	+ 0.96	TBLD
EHI	+ 0.9	RLTY
BWG	+ 0.86	RLTY
RLTY	+ 0.85	JGH
RLTY	+ 0.83	WDI

High negative correlations

EHI	- 0.0	NSL
BWG	- 0.0	NSL
RLTY	- 0.0	NSL
GBAB	- 0.0	NSL
WDI	- 0.0	NSL
TBLD	- 0.0	NSL

Risk-Adjusted Indicators

There is a big difference between Advent Fund performing well and Advent Claymore 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 Advent Claymore'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
JSD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JGH	0.34	0.06	0.12	0.27	0.36	(0.36)	0.68	(0.69)	2.33
NSL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BGB	0.35	(0.03)	0.00	(0.14)	0.00	0.00	0.59	(0.67)	1.90
TBLD	0.47	0.14	0.25	0.51	0.22	(0.61)	1.04	(0.73)	2.22
WDI	0.41	0.06	0.11	0.20	0.44	(0.46)	0.96	(0.93)	2.66
GBAB	0.47	0.04	0.06	0.20	0.58	(0.51)	0.96	(1.00)	3.66
RLTY	0.82	0.05	0.05	0.09	1.03	(0.87)	1.61	(1.88)	5.92
BWG	0.47	0.09	0.14	0.59	0.43	(0.59)	0.99	(0.77)	3.54
EHI	0.42	0.06	0.13	0.23	0.32	(0.54)	0.76	(0.62)	3.70

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