Fpa New Correlations

FPNRX Fund

9.95 0.02 0.20%

The current 90-days correlation between Fpa New Income and Dunham Large Cap is 0.11 (i.e., Average diversification). The correlation of Fpa New 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 New Correlation With Market

Significant diversification

The correlation between Fpa New Income and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fpa New Income 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 New Income. 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 metropolitan statistical area.

Moving together with Fpa Mutual Fund

0.61	PTY	Pimco Corporate Income	Pair Corr
0.97	VBIRX	Vanguard Short Term	Pair Corr
0.85	VFSUX	Vanguard Short Term	Pair Corr
0.98	VFSIX	Vanguard Short Term	Pair Corr
0.98	VFSTX	Vanguard Short Term	Pair Corr
0.98	VBITX	Vanguard Short Term	Pair Corr
0.98	VBISX	Vanguard Short Term	Pair Corr
0.94	LALDX	Lord Abbett Short	Pair Corr
0.9	VSCSX	Vanguard Short Term	Pair Corr
0.84	LDLAX	Lord Abbett Short	Pair Corr
0.95	LDLRX	Lord Abbett Short	Pair Corr
0.85	NHS	Neuberger Berman High	Pair Corr
0.66	BLSIX	Blackrock Emerging	Pair Corr
0.9	FPPAX	Mfs Prudent Investor	Pair Corr
0.8	PRAPX	Pimco Total Return	Pair Corr
0.73	FPNTX	Nuveen Pennsylvania	Pair Corr
0.81	LAIIX	Lord Abbett Intermediate	Pair Corr
0.97	ETSIX	Eaton Vance Short	Pair Corr
0.85	NWHMX	Nationwide Bailard	Pair Corr
0.77	VIITX	Vanguard Institutional	Pair Corr
0.8	FHBRX	Federated High Income	Pair Corr
0.88	FITFX	Fidelity Flex Intern	Pair Corr
0.68	ACCOX	International Value	Pair Corr
0.84	LSVFX	Lsv Global Managed	Pair Corr
0.75	TEMHX	Tiaa Cref Emerging	Pair Corr
0.63	FPTKX	Fidelity Freedom 2015	Pair Corr
0.7	BKMIX	Blackrock Multi Asset	Pair Corr
0.88	VEMBX	Vanguard Emerging Markets	Pair Corr

Moving against Fpa Mutual Fund

0.58	QRVLX	Queens Road Value	Pair Corr
0.42	QRSAX	Fpa Queens Road	Pair Corr
0.42	QRSIX	Fpa Queens Road	Pair Corr
0.42	QRSVX	Queens Road Small	Pair Corr

Related Correlations Analysis

	DNLVX	TACLX	AMFFX	TRCPX	GVALX	LTFOX
DNLVX		0.69	0.73	0.78	0.71	0.86	DNLVX
TACLX	0.69		0.97	0.94	0.94	0.84	TACLX
AMFFX	0.73	0.97		0.98	0.95	0.91	AMFFX
TRCPX	0.78	0.94	0.98		0.96	0.95	TRCPX
GVALX	0.71	0.94	0.95	0.96		0.88	GVALX
LTFOX	0.86	0.84	0.91	0.95	0.88		LTFOX
	DNLVX	TACLX	AMFFX	TRCPX	GVALX	LTFOX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Fpa Mutual Fund performing well and Fpa New 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 New'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
DNLVX	0.68	(0.02)	0.00	(0.09)	0.00	0.00	1.31	(1.35)	5.70
TACLX	0.64	0.06	0.10	0.02	0.78	(0.65)	1.28	(1.48)	3.10
AMFFX	0.56	0.05	0.11	0.01	0.69	(0.58)	1.09	(1.20)	2.78
TRCPX	0.65	0.08	0.11	0.03	0.79	(0.70)	1.27	(1.53)	3.55
GVALX	0.64	0.07	0.11	0.03	0.76	(0.69)	1.06	(1.22)	2.91
LTFOX	0.68	0.04	0.00	(0.02)	0.00	0.00	1.49	(1.60)	3.58

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