Cornerstone Strategic Correlations

CLM Fund

USD 7.60 0.07 0.91%

The current 90-days correlation between Cornerstone Strategic and Eagle Point Credit is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cornerstone Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cornerstone Strategic Value moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cornerstone Strategic Correlation With Market

Weak diversification

The correlation between Cornerstone Strategic Value and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cornerstone Strategic Value 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 Cornerstone Strategic Value. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Cornerstone Fund

0.82	CDAZX	Multi-manager Directional	Pair Corr
0.77	CVERX	Columbia Mid Cap	Pair Corr
0.67	CVQZX	Columbia Disciplined	Pair Corr
0.77	CECYX	Columbia Large Cap	Pair Corr
0.78	SSVIX	Columbia Select Smaller	Pair Corr
0.75	GEGTX	Columbia Large Cap	Pair Corr
0.69	CFCIX	Columbia Large Cap	Pair Corr
0.78	SCIRX	Columbia Seligman	Pair Corr
0.78	SCMIX	Columbia Seligman	Pair Corr
0.75	CGEZX	Columbia Select Global	Pair Corr
0.75	CGFYX	Columbia Large Cap	Pair Corr

Moving against Cornerstone Fund

0.58	CUTRX	Columbia Treasury Index	Pair Corr
0.58	CUTYX	Columbia Treasury Index	Pair Corr
0.57	SRINX	Columbia Porate Income	Pair Corr
0.52	CUSBX	Columbia Ultra Short	Pair Corr
0.42	CEBYX	Columbia Emerging Markets	Pair Corr
0.59	LIBCX	Columbia Total Return	Pair Corr
0.43	CEBRX	Columbia Emerging Markets	Pair Corr
0.58	CGVRX	Columbia Government	Pair Corr
0.51	CGCYX	Columbia Greater China	Pair Corr

Related Correlations Analysis

	ECC	CRF	OXSQ	GOF	RA	PDI	PTY	RIV	OPP
ECC		0.59	0.17	-0.46	0.08	-0.38	0.1	0.22	-0.33	ECC
CRF	0.59		-0.12	-0.66	0.14	-0.62	-0.04	0.08	-0.63	CRF
OXSQ	0.17	-0.12		0.64	0.8	0.78	0.93	0.92	0.75	OXSQ
GOF	-0.46	-0.66	0.64		0.46	0.92	0.58	0.53	0.91	GOF
RA	0.08	0.14	0.8	0.46		0.59	0.88	0.84	0.56	RA
PDI	-0.38	-0.62	0.78	0.92	0.59		0.75	0.64	0.95	PDI
PTY	0.1	-0.04	0.93	0.58	0.88	0.75		0.88	0.7	PTY
RIV	0.22	0.08	0.92	0.53	0.84	0.64	0.88		0.58	RIV
OPP	-0.33	-0.63	0.75	0.91	0.56	0.95	0.7	0.58		OPP
	ECC	CRF	OXSQ	GOF	RA	PDI	PTY	RIV	OPP

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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

OPP	+ 0.95	PDI
PTY	+ 0.93	OXSQ
RIV	+ 0.92	OXSQ
PDI	+ 0.92	GOF
OPP	+ 0.91	GOF
PTY	+ 0.88	RA

High negative correlations

GOF	- 0.66	CRF
OPP	- 0.63	CRF
PDI	- 0.62	CRF
GOF	- 0.46	ECC
PDI	- 0.38	ECC
OPP	- 0.33	ECC

Risk-Adjusted Indicators

There is a big difference between Cornerstone Fund performing well and Cornerstone Strategic 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 Cornerstone Strategic'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
ECC	0.71	(0.09)	0.00	(0.62)	0.00	0.00	2.01	(1.49)	6.76
CRF	1.08	(0.18)	0.00	(0.31)	0.00	0.00	1.64	(2.23)	11.53
OXSQ	0.89	0.11	0.09	0.49	1.02	(1.02)	2.03	(1.79)	5.48
GOF	0.44	0.09	0.12	0.59	0.50	(0.46)	0.97	(1.02)	2.89
RA	0.29	0.02	0.06	0.20	0.30	(0.32)	0.68	(0.62)	1.45
PDI	0.31	0.16	0.36	0.98	0.00	(0.38)	0.82	(0.53)	2.07
PTY	0.18	0.04	0.11	0.25	0.19	(0.21)	0.42	(0.34)	1.82
RIV	0.59	0.04	0.06	0.14	0.65	(0.70)	1.48	(1.20)	4.71
OPP	0.37	0.09	0.17	0.77	0.30	(0.44)	0.75	(0.72)	2.32

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