Fpa Flexible Correlations

FPFIX Fund

USD 10.23 0.01 0.1%

The current 90-days correlation between Fpa Flexible Fixed and Ridgeworth Ceredex Mid Cap is 0.15 (i.e., Average diversification). The correlation of Fpa Flexible 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.

Fpa Flexible Correlation With Market

Significant diversification

The correlation between Fpa Flexible Fixed 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 Fpa Flexible Fixed 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 Fpa Flexible Fixed. 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 gross domestic product.

Moving together with Fpa Mutual Fund

0.67	PTY	Pimco Corporate Income	Pair Corr
1.0	FFIAX	Fpa Flexible Fixed	Pair Corr
1.0	FPNRX	Fpa New Income	Pair Corr
1.0	FPNIX	Fpa New Income	Pair Corr
0.95	BSIKX	Blackrock Strategic	Pair Corr
0.94	BSICX	Blackrock Strategic Opps	Pair Corr
0.94	BASIX	Blackrock Strategic Opps	Pair Corr
0.95	BSIIX	Blackrock Strategic	Pair Corr
0.88	JSORX	Jpmorgan Strategic Income	Pair Corr
0.89	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.85	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.88	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.87	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.99	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.81	TREMX	T Rowe Price	Pair Corr
0.82	FQITX	Fidelity Salem Street	Pair Corr
0.74	SAEMX	Sa Emerging Markets	Pair Corr
0.77	VGWAX	Vanguard Global Well	Pair Corr
0.98	MFAAX	American Funds Mortgage	Pair Corr
0.92	EPDPX	Europac International	Pair Corr
0.94	CIHCX	Cullen International High	Pair Corr
0.9	EBSFX	Eubel Brady Suttman	Pair Corr
0.99	ABNOX	Ab Bond Inflation	Pair Corr
0.97	HRBDX	Harbor Bond Fund	Pair Corr
0.95	BISMX	Brandes International	Pair Corr

Moving against Fpa Mutual Fund

0.51	QRVLX	Queens Road Value	Pair Corr
0.39	QRSAX	Fpa Queens Road	Pair Corr
0.39	QRSIX	Fpa Queens Road	Pair Corr
0.39	QRSVX	Queens Road Small	Pair Corr
0.84	SMPIX	Semiconductor Ultrasector	Pair Corr
0.82	SMPSX	Semiconductor Ultrasector	Pair Corr
0.43	CISGX	Touchstone Sands Capital	Pair Corr

Related Correlations Analysis

	SMVTX	RRMVX	VSFSX	ARSVX	PRDMX	SHPSX	AOPAX
SMVTX		0.93	0.95	0.92	0.91	-0.89	-0.11	SMVTX
RRMVX	0.93		0.95	0.87	0.93	-0.86	-0.09	RRMVX
VSFSX	0.95	0.95		0.91	0.95	-0.96	-0.22	VSFSX
ARSVX	0.92	0.87	0.91		0.89	-0.87	-0.22	ARSVX
PRDMX	0.91	0.93	0.95	0.89		-0.9	-0.1	PRDMX
SHPSX	-0.89	-0.86	-0.96	-0.87	-0.9		0.35	SHPSX
AOPAX	-0.11	-0.09	-0.22	-0.22	-0.1	0.35		AOPAX
	SMVTX	RRMVX	VSFSX	ARSVX	PRDMX	SHPSX	AOPAX

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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

VSFSX	+ 0.95	SMVTX
VSFSX	+ 0.95	RRMVX
PRDMX	+ 0.95	VSFSX
RRMVX	+ 0.93	SMVTX
PRDMX	+ 0.93	RRMVX
ARSVX	+ 0.92	SMVTX

High negative correlations

SHPSX	- 0.96	VSFSX
SHPSX	- 0.9	PRDMX
SHPSX	- 0.89	SMVTX
SHPSX	- 0.87	ARSVX
SHPSX	- 0.86	RRMVX
AOPAX	- 0.22	ARSVX

Risk-Adjusted Indicators

There is a big difference between Fpa Mutual Fund performing well and Fpa Flexible 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 Fpa Flexible'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
SMVTX	1.01	(0.15)	0.00	(0.22)	0.00	0.00	1.39	(2.22)	9.55
RRMVX	0.71	(0.04)	0.00	(0.12)	0.00	0.00	1.21	(1.60)	3.46
VSFSX	0.87	(0.10)	0.00	(0.17)	0.00	0.00	1.48	(2.07)	5.18
ARSVX	0.81	(0.16)	0.00	(0.27)	0.00	0.00	1.19	(1.54)	7.70
PRDMX	1.34	(0.18)	0.00	(0.22)	0.00	0.00	1.84	(3.77)	7.15
SHPSX	1.00	0.14	0.25	(0.21)	0.93	(1.21)	2.75	(1.56)	7.00
AOPAX	0.48	0.05	0.12	0.04	0.67	(0.51)	1.15	(1.14)	3.90

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