1290 Essex Correlations

Mutual Funds . USA . 
Fund . 1290 Essex Small
ESCJX Fund   11.88  0.07  0.59%   
The current 90-days correlation between 1290 Essex Small and The Hartford Inflation is -0.07 (i.e., Good diversification). The correlation of 1290 Essex 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.

1290 Essex Correlation With Market

Good diversification

The correlation between 1290 Essex Small and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Essex Small and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in 1290 Essex Small. 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 inflation.

Moving together with 1290 Mutual Fund

  0.79VSGAX Vanguard Small CapPairCorr
  0.97VSGIX Vanguard Small CapPairCorr
  0.97VISGX Vanguard Small CapPairCorr
  0.94VEXPX Vanguard ExplorerPairCorr
  0.94VEXRX Vanguard ExplorerPairCorr
  0.93JGMIX Janus TritonPairCorr
  0.93JGMRX Janus TritonPairCorr
  0.93JGMAX Janus TritonPairCorr
  0.93JGMCX Janus TritonPairCorr
  0.93JGMNX Janus TritonPairCorr
  0.68CAT CaterpillarPairCorr
  0.61AA Alcoa CorpPairCorr
  0.62BA BoeingPairCorr
  0.79BAC Bank of AmericaPairCorr

Moving against 1290 Mutual Fund

  0.78VZ Verizon CommunicationsPairCorr
  0.7KO Coca ColaPairCorr
  0.66TRV The Travelers CompaniesPairCorr
  0.62PG Procter GamblePairCorr
  0.6T ATT Inc Earnings Call TomorrowPairCorr
  0.54NHS Neuberger Berman HighPairCorr
  0.33IBM International BusinessPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Essex 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 1290 Essex'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.

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