1290 Essex Correlations

ESCJX Fund

12.36 0.08 0.64%

The current 90-days correlation between 1290 Essex Small and T Rowe Price is 0.47 (i.e., Very weak 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

Very weak diversification

The correlation between 1290 Essex Small and DJI is 0.43 (i.e., Very weak 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

0.99	ESCKX	1290 Funds	Pair Corr
0.99	ESCFX	1290 Funds	Pair Corr
0.63	TNRAX	1290 Funds	Pair Corr
0.63	TNVAX	1290 Gamco Smallmid	Pair Corr
0.63	TNVIX	1290 Gamco Smallmid	Pair Corr
0.62	TNXIX	1290 Retirement 2060	Pair Corr
0.7	VSGIX	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	TRZZX	PRDMX	RYAGX	RPTIX	FCPVX	IAAEX	BPSCX
TRZZX		0.84	-0.53	0.99	0.82	0.9	0.98	TRZZX
PRDMX	0.84		-0.23	0.85	0.86	0.83	0.86	PRDMX
RYAGX	-0.53	-0.23		-0.54	-0.39	-0.24	-0.43	RYAGX
RPTIX	0.99	0.85	-0.54		0.87	0.89	0.96	RPTIX
FCPVX	0.82	0.86	-0.39	0.87		0.8	0.83	FCPVX
IAAEX	0.9	0.83	-0.24	0.89	0.8		0.91	IAAEX
BPSCX	0.98	0.86	-0.43	0.96	0.83	0.91		BPSCX
	TRZZX	PRDMX	RYAGX	RPTIX	FCPVX	IAAEX	BPSCX

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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

RPTIX	+ 0.99	TRZZX
BPSCX	+ 0.98	TRZZX
BPSCX	+ 0.96	RPTIX
BPSCX	+ 0.91	IAAEX
IAAEX	+ 0.9	TRZZX
IAAEX	+ 0.89	RPTIX

High negative correlations

RPTIX	- 0.54	RYAGX
RYAGX	- 0.53	TRZZX
BPSCX	- 0.43	RYAGX
FCPVX	- 0.39	RYAGX
IAAEX	- 0.24	RYAGX
RYAGX	- 0.23	PRDMX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TRZZX	0.92	(0.24)	0.00	(0.28)	0.00	0.00	1.53	(1.93)	15.26
PRDMX	1.08	(0.12)	0.00	(0.15)	0.00	0.00	1.68	(2.47)	8.70
RYAGX	1.26	0.13	0.04	0.31	2.80	(1.43)	1.48	(1.52)	39.49
RPTIX	0.78	(0.16)	0.00	(0.23)	0.00	0.00	1.34	(1.63)	10.90
FCPVX	0.73	(0.08)	0.00	(0.09)	0.00	0.00	1.53	(1.70)	5.52
IAAEX	0.67	(0.11)	0.00	(0.37)	0.00	0.00	1.20	(1.08)	9.17
BPSCX	0.91	(0.21)	0.00	(0.24)	0.00	0.00	1.51	(1.91)	14.47

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