Qs Moderate Correlations

LLAIX Fund

USD 16.17 0.06 0.37%

The current 90-days correlation between Qs Moderate Growth and American Century Diversified is -0.06 (i.e., Good diversification). The correlation of Qs Moderate 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.

Qs Moderate Correlation With Market

Poor diversification

The correlation between Qs Moderate Growth and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qs Moderate Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Qs Moderate Growth. 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 LLAIX Mutual Fund

0.64	TEGRX	Templeton Growth	Pair Corr
0.92	TEMGX	Templeton Global Smaller	Pair Corr
0.71	TEMMX	Templeton Emerging	Pair Corr
0.88	TEMWX	Templeton World	Pair Corr
0.81	TEMTX	Franklin Mutual Shares	Pair Corr
0.85	SAIFX	Clearbridge Large Cap	Pair Corr
0.84	SAGYX	Clearbridge Aggressive	Pair Corr
0.71	TEMZX	Templeton Emerging	Pair Corr
0.64	TEPLX	Templeton Growth	Pair Corr
0.88	TWDAX	Templeton World	Pair Corr
0.81	TESIX	Franklin Mutual Shares	Pair Corr
0.92	TESGX	Templeton Global Smaller	Pair Corr
0.81	TESRX	Franklin Mutual Shares	Pair Corr
0.88	TEWTX	Templeton World	Pair Corr
0.83	SAPYX	Clearbridge Appreciation	Pair Corr
0.81	SASMX	Clearbridge Small Cap	Pair Corr

Moving against LLAIX Mutual Fund

0.74	WAADX	Western Asset Smash	Pair Corr
0.43	SBAYX	Western Asset Adjustable	Pair Corr

Related Correlations Analysis

	ACDOX	BDVFX	PGBAX	WDIAX	MBLAX	EKBDX	FZABX	PHTMX
ACDOX		0.9	0.88	0.5	0.7	-0.23	0.81	0.74	ACDOX
BDVFX	0.9		0.74	0.44	0.74	0.0	0.79	0.75	BDVFX
PGBAX	0.88	0.74		0.71	0.77	-0.33	0.81	0.8	PGBAX
WDIAX	0.5	0.44	0.71		0.87	0.22	0.77	0.85	WDIAX
MBLAX	0.7	0.74	0.77	0.87		0.28	0.88	0.95	MBLAX
EKBDX	-0.23	0.0	-0.33	0.22	0.28		0.14	0.25	EKBDX
FZABX	0.81	0.79	0.81	0.77	0.88	0.14		0.91	FZABX
PHTMX	0.74	0.75	0.8	0.85	0.95	0.25	0.91		PHTMX
	ACDOX	BDVFX	PGBAX	WDIAX	MBLAX	EKBDX	FZABX	PHTMX

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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

PHTMX	+ 0.95	MBLAX
PHTMX	+ 0.91	FZABX
BDVFX	+ 0.9	ACDOX
PGBAX	+ 0.88	ACDOX
FZABX	+ 0.88	MBLAX
MBLAX	+ 0.87	WDIAX

High negative correlations

EKBDX	- 0.33	PGBAX
EKBDX	- 0.23	ACDOX
EKBDX	- 0.0	BDVFX

Risk-Adjusted Indicators

There is a big difference between LLAIX Mutual Fund performing well and Qs Moderate 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 Qs Moderate'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
ACDOX	0.24	(0.01)	0.41	0.01	0.25	(0.30)	0.45	(0.44)	1.45
BDVFX	0.27	0.00	0.00	(0.14)	0.00	0.00	0.54	(0.54)	1.59
PGBAX	0.14	0.01	0.69	0.03	0.12	(0.18)	0.34	(0.25)	0.85
WDIAX	0.63	0.02	0.00	(0.10)	0.00	0.00	1.10	(1.48)	3.64
MBLAX	0.25	0.00	0.00	(0.14)	0.00	0.00	0.47	(0.54)	1.51
EKBDX	1.11	(0.14)	0.00	(0.32)	0.00	0.00	1.43	(2.82)	7.19
FZABX	0.78	0.02	0.00	(0.10)	0.00	0.00	1.22	(1.50)	6.16
PHTMX	0.30	0.00	0.00	(0.13)	0.00	0.00	0.61	(0.69)	1.67

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