Fabxx Correlations

FABXX Fund

1.00 1.27 55.95%

The current 90-days correlation between Fabxx and Crossmark Steward Equity is 0.12 (i.e., Average diversification). The correlation of Fabxx 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.

Fabxx Correlation With Market

Significant diversification

The correlation between Fabxx and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fabxx 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 Fabxx. Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving against Fabxx Money Market Fund

0.43	SPMPX	Invesco Steelpath Mlp Steady Growth	Pair Corr
0.43	MLPNX	Oppenheimer Steelpath Mlp Steady Growth	Pair Corr
0.43	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.43	SPMJX	Invesco Steelpath Mlp Steady Growth	Pair Corr
0.42	MASFX	Litman Gregory Masters	Pair Corr
0.4	HRLYX	Hartford Global	Pair Corr
0.4	HGLB	Highland Global Allo	Pair Corr
0.34	MHCAX	Mainstay High Yield	Pair Corr
0.47	FFRSX	Federated Floating Rate	Pair Corr

Related Correlations Analysis

	SMNIX	CDHIX	BXECX	SEDAX	TEOJX	FXOKX	REMVX	CMNIX
SMNIX		0.35	0.49	0.46	0.36	0.28	0.34	0.29	SMNIX
CDHIX	0.35		0.93	0.96	0.89	0.99	0.89	0.81	CDHIX
BXECX	0.49	0.93		0.97	0.81	0.9	0.81	0.78	BXECX
SEDAX	0.46	0.96	0.97		0.87	0.94	0.88	0.76	SEDAX
TEOJX	0.36	0.89	0.81	0.87		0.85	0.98	0.63	TEOJX
FXOKX	0.28	0.99	0.9	0.94	0.85		0.87	0.79	FXOKX
REMVX	0.34	0.89	0.81	0.88	0.98	0.87		0.56	REMVX
CMNIX	0.29	0.81	0.78	0.76	0.63	0.79	0.56		CMNIX
	SMNIX	CDHIX	BXECX	SEDAX	TEOJX	FXOKX	REMVX	CMNIX

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Risk-Adjusted Indicators

There is a big difference between Fabxx Money Market Fund performing well and Fabxx Money Market 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 Fabxx'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
SMNIX	0.45	0.00	0.24	(0.14)	0.44	(0.59)	1.00	(0.85)	2.62
CDHIX	0.68	0.11	0.15	0.07	0.88	(0.72)	1.44	(1.51)	4.90
BXECX	0.20	0.03	0.48	0.49	0.00	(0.31)	0.55	(0.40)	1.21
SEDAX	0.25	0.03	0.40	0.33	0.19	(0.34)	0.59	(0.36)	1.31
TEOJX	0.79	0.12	0.18	0.19	0.92	(0.85)	1.54	(1.53)	5.83
FXOKX	0.75	0.10	0.12	0.05	1.03	(0.77)	1.39	(1.38)	6.15
REMVX	0.79	0.08	0.14	0.08	0.94	(0.86)	1.51	(1.56)	5.76
CMNIX	0.11	0.02	0.68	0.07	0.00	(0.14)	0.27	(0.26)	0.80

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Fabxx Correlations

Fabxx Correlation With Market

Significant diversification

Moving against Fabxx Money Market Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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