Bright Rock Correlations

BQLCX Fund

USD 21.76 0.03 0.14%

The current 90-days correlation between Bright Rock Quality and Franklin Biotechnology Discovery is -0.08 (i.e., Good diversification). The correlation of Bright Rock 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.

Bright Rock Correlation With Market

Good diversification

The correlation between Bright Rock Quality and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bright Rock Quality 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 Bright Rock Quality. 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 main economic indicators.

Moving together with Bright Mutual Fund

0.69	BQMGX	Bright Rock Mid	Pair Corr
0.74	VTSAX	Vanguard Total Stock	Pair Corr
0.74	VFIAX	Vanguard 500 Index	Pair Corr
0.88	VTSMX	Vanguard Total Stock	Pair Corr
0.74	VITSX	Vanguard Total Stock	Pair Corr
0.88	VSMPX	Vanguard Total Stock	Pair Corr
0.88	VSTSX	Vanguard Total Stock	Pair Corr
0.88	VFINX	Vanguard 500 Index	Pair Corr
0.88	VFFSX	Vanguard 500 Index	Pair Corr
0.87	VINIX	Vanguard Institutional	Pair Corr
0.87	VIIIX	Vanguard Institutional	Pair Corr

Moving against Bright Mutual Fund

0.53	RYWBX	Weakening Dollar	Pair Corr
0.36	RAMEX	Short Term Bond	Pair Corr
0.32	USGNX	Government Securities	Pair Corr
0.75	TCHTX	Cleartrack 2020 Class	Pair Corr
0.59	MCSVX	Mainstay Vertible	Pair Corr
0.51	MFBIX	Mesirow Enhanced Core	Pair Corr
0.36	PPFFX	American Funds Prese	Pair Corr
0.31	TSWMX	Tsw Emerging Markets	Pair Corr

Related Correlations Analysis

	FRBRX	WSTRX	CONIX	SBHIX	JNGTX	BGSCX	WFTDX
FRBRX		0.13	0.32	-0.02	0.2	0.18	0.25	FRBRX
WSTRX	0.13		0.93	0.02	0.96	0.96	0.96	WSTRX
CONIX	0.32	0.93		0.0	0.93	0.93	0.97	CONIX
SBHIX	-0.02	0.02	0.0		-0.18	-0.22	0.03	SBHIX
JNGTX	0.2	0.96	0.93	-0.18		1.0	0.94	JNGTX
BGSCX	0.18	0.96	0.93	-0.22	1.0		0.93	BGSCX
WFTDX	0.25	0.96	0.97	0.03	0.94	0.93		WFTDX
	FRBRX	WSTRX	CONIX	SBHIX	JNGTX	BGSCX	WFTDX

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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

BGSCX	+ 1.0	JNGTX
WFTDX	+ 0.97	CONIX
JNGTX	+ 0.96	WSTRX
BGSCX	+ 0.96	WSTRX
WFTDX	+ 0.96	WSTRX
WFTDX	+ 0.94	JNGTX

High negative correlations

BGSCX	- 0.22	SBHIX
JNGTX	- 0.18	SBHIX
SBHIX	- 0.02	FRBRX
SBHIX	- 0.0	CONIX

Risk-Adjusted Indicators

There is a big difference between Bright Mutual Fund performing well and Bright Rock 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 Bright Rock'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
FRBRX	1.13	(0.08)	0.00	(0.20)	0.00	0.00	2.24	(2.46)	9.46
WSTRX	1.34	(0.06)	0.00	(0.12)	0.00	0.00	2.01	(3.60)	7.04
CONIX	0.62	(0.06)	0.00	(0.19)	0.00	0.00	1.18	(1.47)	3.04
SBHIX	0.63	0.03	0.09	0.00	0.74	(0.68)	1.20	(1.17)	3.37
JNGTX	1.18	(0.07)	0.00	(0.14)	0.00	0.00	2.00	(3.18)	6.41
BGSCX	1.48	(0.10)	0.00	(0.16)	0.00	0.00	2.37	(3.68)	9.08
WFTDX	0.91	(0.07)	0.00	(0.14)	0.00	0.00	1.70	(2.29)	4.98

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