Balter Invenomic Correlations

BIVRX Fund

USD 17.29 0.28 1.59%

The current 90-days correlation between Balter Invenomic and Virtus High Yield is -0.33 (i.e., Very good diversification). The correlation of Balter Invenomic 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.

Balter Invenomic Correlation With Market

Very good diversification

The correlation between Balter Invenomic Fund and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Balter Invenomic 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 Balter Invenomic 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 metropolitan statistical area.

Moving together with Balter Mutual Fund

1.0	BIVIX	Balter Invenomic	Pair Corr
0.72	PWLIX	Pimco Rae Worldwide	Pair Corr
0.71	PWLMX	Pimco Rae Worldwide	Pair Corr
0.71	PSJIX	Short Term Income	Pair Corr
0.72	USGNX	Government Securities	Pair Corr
0.69	LIBAX	Columbia Total Return	Pair Corr
0.63	RYAEX	Europe 125x Strategy	Pair Corr
0.68	LCRVX	Lord Abbett E	Pair Corr
0.76	PPFFX	American Funds Prese	Pair Corr
0.69	VWTAX	Tomorrows Scholar College	Pair Corr
0.68	MBFAX	Total Return Bond	Pair Corr

Moving against Balter Mutual Fund

0.62	ASLAX	Ab Select Longshort	Pair Corr
0.52	NLSCX	Neuberger Berman Long	Pair Corr
0.49	NLSAX	Neuberger Berman Long	Pair Corr
0.47	NLSIX	Neuberger Berman Long	Pair Corr
0.34	XDSMX	Dreyfus Strategic	Pair Corr
0.34	XNXJX	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	VRHYX	TAHFX	MRHYX	SGYAX	ABTYX	GHVIX	AHYMX	PBHAX
VRHYX		0.97	0.95	0.97	0.78	0.93	0.84	0.96	VRHYX
TAHFX	0.97		0.95	0.95	0.7	0.89	0.76	0.92	TAHFX
MRHYX	0.95	0.95		0.91	0.66	0.9	0.73	0.89	MRHYX
SGYAX	0.97	0.95	0.91		0.76	0.93	0.82	0.98	SGYAX
ABTYX	0.78	0.7	0.66	0.76		0.83	0.98	0.78	ABTYX
GHVIX	0.93	0.89	0.9	0.93	0.83		0.88	0.94	GHVIX
AHYMX	0.84	0.76	0.73	0.82	0.98	0.88		0.85	AHYMX
PBHAX	0.96	0.92	0.89	0.98	0.78	0.94	0.85		PBHAX
	VRHYX	TAHFX	MRHYX	SGYAX	ABTYX	GHVIX	AHYMX	PBHAX

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Risk-Adjusted Indicators

There is a big difference between Balter Mutual Fund performing well and Balter Invenomic 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 Balter Invenomic'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
VRHYX	0.16	0.01	0.12	0.02	0.14	(0.32)	0.26	(0.26)	1.30
TAHFX	0.16	0.00	0.11	(0.08)	0.19	(0.21)	0.49	(0.25)	1.24
MRHYX	0.13	0.00	0.16	(0.03)	0.13	(0.17)	0.24	(0.24)	0.95
SGYAX	0.16	0.02	0.19	0.14	0.07	(0.26)	0.56	(0.28)	1.57
ABTYX	0.24	(0.01)	0.06	0.21	0.34	(0.28)	0.50	(0.59)	1.55
GHVIX	0.16	0.00	0.18	(0.11)	0.16	(0.17)	0.30	(0.35)	1.01
AHYMX	0.12	0.00	0.15	0.13	0.13	(0.18)	0.22	(0.33)	0.76
PBHAX	0.16	0.02	0.20	0.20	0.00	(0.29)	0.41	(0.21)	1.26

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