Counterpoint Tactical Correlations

CPCEX Fund

USD 21.46 0.05 0.23%

The current 90-days correlation between Counterpoint Tactical and Counterpoint Tactical Municipal is -0.05 (i.e., Good diversification). The correlation of Counterpoint Tactical 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.

Counterpoint Tactical Correlation With Market

Very weak diversification

The correlation between Counterpoint Tactical Equity and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Counterpoint Tactical Equity 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 Counterpoint Tactical Equity. 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 Counterpoint Mutual Fund

0.94	CPATX	Counterpoint Tactical	Pair Corr
1.0	CPAEX	Counterpoint Tactical	Pair Corr
0.94	CPCTX	Counterpoint Tactical	Pair Corr
1.0	CPIEX	Counterpoint Tactical	Pair Corr
0.94	CPITX	Counterpoint Tactical	Pair Corr
0.93	NLSCX	Neuberger Berman Long	Pair Corr
0.94	NLSAX	Neuberger Berman Long	Pair Corr
0.91	NLSIX	Neuberger Berman Long	Pair Corr
0.96	QLERX	Aqr Long Short	Pair Corr
0.62	ASLAX	Ab Select Longshort	Pair Corr
0.88	LSHUX	Horizon Spin Off	Pair Corr
0.89	KMKCX	Kinetics Market Oppo	Pair Corr
0.87	KNPYX	Kinetics Paradigm	Pair Corr
0.89	KMKAX	Kinetics Market Oppo	Pair Corr
0.85	LSHCX	Horizon Spin Off	Pair Corr
0.87	WWNPX	Kinetics Paradigm	Pair Corr
0.87	KNPCX	Kinetics Paradigm	Pair Corr
0.87	KNPAX	Kinetics Paradigm	Pair Corr
0.65	LETRX	Voya Russia Fund	Pair Corr
0.87	RNGHX	New Economy Fund	Pair Corr
0.95	FZROX	Fidelity Zero Total	Pair Corr
0.93	CLM	Cornerstone Strategic	Pair Corr
0.94	VFIAX	Vanguard 500 Index	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.77	RGGEX	American Funds Global	Pair Corr

Moving against Counterpoint Mutual Fund

0.35	DIAMX	Diamond Hill Long	Pair Corr
0.34	DHLSX	Diamond Hill Long	Pair Corr
0.33	DIAYX	Diamond Hill Long	Pair Corr

Related Correlations Analysis

	TMNIX	TMNCX	TMNAX	CPATX	CPAEX	CPCTX	CPCEX	CPIEX	CPITX
TMNIX		0.89	0.88	0.02	-0.02	0.04	-0.02	-0.02	0.13	TMNIX
TMNCX	0.89		0.99	-0.05	-0.12	-0.03	-0.12	-0.12	0.04	TMNCX
TMNAX	0.88	0.99		0.01	-0.07	0.03	-0.07	-0.07	0.09	TMNAX
CPATX	0.02	-0.05	0.01		0.94	0.99	0.94	0.94	0.96	CPATX
CPAEX	-0.02	-0.12	-0.07	0.94		0.94	1.0	1.0	0.94	CPAEX
CPCTX	0.04	-0.03	0.03	0.99	0.94		0.94	0.94	0.97	CPCTX
CPCEX	-0.02	-0.12	-0.07	0.94	1.0	0.94		1.0	0.94	CPCEX
CPIEX	-0.02	-0.12	-0.07	0.94	1.0	0.94	1.0		0.94	CPIEX
CPITX	0.13	0.04	0.09	0.96	0.94	0.97	0.94	0.94		CPITX
	TMNIX	TMNCX	TMNAX	CPATX	CPAEX	CPCTX	CPCEX	CPIEX	CPITX

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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

CPCEX	+ 1.0	CPAEX
CPIEX	+ 1.0	CPAEX
CPIEX	+ 1.0	CPCEX
TMNAX	+ 0.99	TMNCX
CPCTX	+ 0.99	CPATX
CPITX	+ 0.97	CPCTX

High negative correlations

CPIEX	- 0.12	TMNCX
CPCEX	- 0.12	TMNCX
CPAEX	- 0.12	TMNCX
CPIEX	- 0.07	TMNAX
CPCEX	- 0.07	TMNAX
CPAEX	- 0.07	TMNAX

Risk-Adjusted Indicators

There is a big difference between Counterpoint Mutual Fund performing well and Counterpoint Tactical 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 Counterpoint Tactical'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
TMNIX	0.15	(0.01)	(0.22)	(0.07)	0.25	(0.22)	0.37	(0.36)	1.65
TMNCX	0.15	(0.01)	0.00	0.18	0.00	0.00	0.37	(0.37)	1.58
TMNAX	0.16	(0.01)	0.00	0.21	0.00	0.00	0.37	(0.37)	1.65
CPATX	0.08	0.00	(0.54)	0.16	0.00	(0.13)	0.18	(0.09)	0.61
CPAEX	0.59	0.10	0.10	0.25	0.47	(0.71)	1.28	(0.94)	4.98
CPCTX	0.08	0.00	(0.54)	0.13	0.00	(0.12)	0.18	(0.18)	0.53
CPCEX	0.59	0.10	0.10	0.25	0.48	(0.69)	1.32	(0.91)	4.97
CPIEX	0.59	0.10	0.10	0.25	0.47	(0.71)	1.34	(0.92)	4.96
CPITX	0.08	0.01	(0.51)	0.20	0.00	(0.11)	0.18	(0.18)	0.53

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