Citizensselect Funds Correlations

CEIXX Fund

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The current 90-days correlation between Citizensselect Funds and Guidemark Large Cap is -0.13 (i.e., Good diversification). The correlation of Citizensselect Funds 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.

Citizensselect Funds Correlation With Market

Good diversification

The correlation between Citizensselect Funds and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Citizensselect Funds 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 Citizensselect Funds . Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Citizensselect Money Market Fund

0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.74	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSMX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.76	VITSX	Vanguard Total Stock	Pair Corr
0.74	VFINX	Vanguard 500 Index	Pair Corr
0.74	VFFSX	Vanguard 500 Index	Pair Corr
0.88	OANLX	Oakmark Select	Pair Corr
0.75	STCZX	Ridgeworth Silvant Large	Pair Corr
0.81	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	FRSAX	Federated Floating Rate	Pair Corr
0.73	OGEAX	Jpmorgan Equity Index	Pair Corr
0.72	PGODX	Putnam Growth Opport	Pair Corr
0.85	OOSYX	Oppenheimer Senior	Pair Corr
0.75	HGOIX	Hartford Growth	Pair Corr
0.78	SMRPX	Salient Mlp Energy	Pair Corr
0.68	PLAYX	Pace Large Growth	Pair Corr
0.83	PYBLX	Payden Floating Rate	Pair Corr
0.91	USDIX	Ubs Ultra Short	Pair Corr
0.75	ASG	Liberty All Star	Pair Corr
0.74	OTCYX	Oppenheimer Capital	Pair Corr
0.82	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.82	RDPSX	Rising Dollar Profund	Pair Corr
0.82	EGLAX	Eagle Mlp Strategy	Pair Corr
0.78	XNCVX	Allianzgi Convertible	Pair Corr
0.84	TQEZX	Amg Timessquare Emerging	Pair Corr
0.74	CNSIX	Invesco Vertible Sec	Pair Corr
0.75	HGOTX	Hartford Growth Oppo	Pair Corr
0.81	VLIIX	Value Line Income	Pair Corr
0.83	BFRNX	Barrow Hanley Floating	Pair Corr
0.73	FOCPX	Fidelity Otc Portfolio	Pair Corr
0.81	ADNPX	Amer Beacon Ark	Pair Corr
0.83	LEQCX	Locorr Dynamic Equity	Pair Corr
0.85	PFICX	Putnam Floating Rate	Pair Corr

Moving against Citizensselect Money Market Fund

0.8	VTIAX	Vanguard Total Inter	Pair Corr
0.78	VGTSX	Vanguard Total Inter	Pair Corr
0.47	RBCRX	Rbc Bluebay Absolute	Pair Corr

Related Correlations Analysis

	GMLVX	DOXGX	JDVNX	DALVX	TWQZX	LAAFX	LMUSX
GMLVX		-0.15	-0.13	-0.34	-0.28	-0.09	-0.6	GMLVX
DOXGX	-0.15		0.89	0.91	0.94	0.83	0.64	DOXGX
JDVNX	-0.13	0.89		0.79	0.87	0.73	0.55	JDVNX
DALVX	-0.34	0.91	0.79		0.97	0.78	0.76	DALVX
TWQZX	-0.28	0.94	0.87	0.97		0.83	0.71	TWQZX
LAAFX	-0.09	0.83	0.73	0.78	0.83		0.33	LAAFX
LMUSX	-0.6	0.64	0.55	0.76	0.71	0.33		LMUSX
	GMLVX	DOXGX	JDVNX	DALVX	TWQZX	LAAFX	LMUSX

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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

TWQZX	+ 0.97	DALVX
TWQZX	+ 0.94	DOXGX
DALVX	+ 0.91	DOXGX
JDVNX	+ 0.89	DOXGX
TWQZX	+ 0.87	JDVNX
LAAFX	+ 0.83	DOXGX

High negative correlations

LMUSX	- 0.6	GMLVX
DALVX	- 0.34	GMLVX
TWQZX	- 0.28	GMLVX
DOXGX	- 0.15	GMLVX
JDVNX	- 0.13	GMLVX
LAAFX	- 0.09	GMLVX

Risk-Adjusted Indicators

There is a big difference between Citizensselect Money Market Fund performing well and Citizensselect Funds Money Market 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 Citizensselect Funds' 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
GMLVX	0.65	(0.03)	0.00	(0.06)	0.00	0.00	1.34	(1.56)	4.86
DOXGX	0.59	(0.11)	0.00	(0.06)	0.00	0.00	0.94	(0.93)	10.51
JDVNX	0.72	(0.20)	0.00	(0.26)	0.00	0.00	1.12	(0.98)	15.37
DALVX	0.49	(0.03)	(0.06)	(0.01)	0.62	(0.54)	1.08	(0.69)	5.18
TWQZX	0.50	(0.06)	0.00	(0.04)	0.00	0.00	1.16	(0.71)	5.29
LAAFX	0.54	(0.07)	0.00	(0.05)	0.00	0.00	1.08	(0.76)	7.00
LMUSX	0.64	0.03	0.02	0.07	1.07	(0.66)	1.10	(1.49)	6.37

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