Commonwealth Real Correlations

CNREX Fund

USD 23.35 0.30 1.30%

The current 90-days correlation between Commonwealth Real Estate and Commonwealth Global Fund is 0.77 (i.e., Poor diversification). The correlation of Commonwealth Real 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.

Commonwealth Real Correlation With Market

Very weak diversification

The correlation between Commonwealth Real Estate and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Commonwealth Real Estate 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 Commonwealth Real Estate. 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 income.

Moving together with Commonwealth Mutual Fund

0.69	O	Realty Income	Pair Corr
0.89	HR	Healthcare Realty Trust	Pair Corr
0.85	KW	Kennedy Wilson Holdings	Pair Corr
0.7	PK	Park Hotels Resorts	Pair Corr
0.71	RC	Ready Capital Corp	Pair Corr
0.82	UE	Urban Edge Properties	Pair Corr
0.78	WY	Weyerhaeuser	Pair Corr
0.89	ADC-PA	Agree Realty	Pair Corr
0.83	DOUG	Douglas Elliman	Pair Corr
0.79	VICI	VICI Properties	Pair Corr
0.82	EPRT	Essential Properties	Pair Corr
0.66	EQIX	Equinix	Pair Corr
0.78	ESRT	Empire State Realty	Pair Corr
0.76	WHLR	Wheeler Real Estate Earnings Call This Week	Pair Corr
0.89	EXPI	eXp World Holdings	Pair Corr

Moving against Commonwealth Mutual Fund

0.42	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.41	DX	Dynex Capital Sell-off Trend	Pair Corr
0.55	MITT-PC	AG Mortgage Investment	Pair Corr
0.34	VTMX	Corporacin Inmobiliaria	Pair Corr
0.51	CDR-PC	Cedar Realty Trust	Pair Corr

Related Correlations Analysis

	CNGLX	CNZLX	MRESX	CNJFX	RYHRX
CNGLX		0.84	0.9	0.81	0.92	CNGLX
CNZLX	0.84		0.93	0.72	0.91	CNZLX
MRESX	0.9	0.93		0.71	1.0	MRESX
CNJFX	0.81	0.72	0.71		0.72	CNJFX
RYHRX	0.92	0.91	1.0	0.72		RYHRX
	CNGLX	CNZLX	MRESX	CNJFX	RYHRX

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Risk-Adjusted Indicators

There is a big difference between Commonwealth Mutual Fund performing well and Commonwealth Real 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 Commonwealth Real'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
CNGLX	0.54	(0.03)	0.00	(0.06)	0.00	0.00	1.07	(1.34)	4.37
CNZLX	0.58	(0.05)	0.00	(0.15)	0.00	0.00	0.91	(1.38)	3.83
MRESX	0.79	(0.02)	0.00	(0.03)	0.00	0.00	1.41	(1.57)	5.24
CNJFX	0.77	0.03	0.02	0.06	0.92	(0.84)	1.62	(1.34)	4.29
RYHRX	0.81	(0.02)	0.00	(0.03)	0.00	0.00	1.54	(1.59)	5.52

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