Navigator Equity Correlations
| NAVAX Fund | USD 1,500 0.00 0.00% |
The current 90-days correlation between Navigator Equity Hedged and Navigator Equity Hedged is -0.02 (i.e., Good diversification). The correlation of Navigator Equity 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.
Navigator |
Moving together with Navigator Mutual Fund
| 0.69 | SMPSX | Semiconductor Ultrasector Steady Growth | PairCorr |
| 0.62 | URNQX | Nasdaq 100 Index | PairCorr |
| 0.81 | XCAPX | Acap Strategic | PairCorr |
| 0.62 | FAFGX | American Funds | PairCorr |
| 0.67 | WSTAX | Ivy Science And | PairCorr |
| 0.65 | RNGHX | New Economy Fund | PairCorr |
| 0.62 | PATVX | T Rowe Price | PairCorr |
Moving against Navigator Mutual Fund
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Navigator Mutual Fund performing well and Navigator Equity 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 Navigator Equity'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NAVIX | 18.91 | 7.88 | 0.00 | 13.83 | 0.00 | 2.78 | 282.49 | |||
| NTAIX | 0.53 | 0.11 | 0.01 | (4.54) | 0.65 | 1.10 | 3.92 | |||
| NTBAX | 0.12 | 0.02 | (0.51) | 0.80 | 0.00 | 0.20 | 0.60 | |||
| NTBCX | 0.13 | 0.01 | (0.49) | 0.16 | 0.00 | 0.30 | 0.60 | |||
| NTBIX | 0.13 | 0.02 | (0.46) | 0.82 | 0.00 | 0.30 | 0.60 | |||
| NTIIX | 0.14 | (0.02) | 0.00 | (0.79) | 0.00 | 0.32 | 1.49 | |||
| NUSIX | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.10 | 0.10 |
Navigator Equity Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Navigator Equity mutual fund to make a market-neutral strategy. Peer analysis of Navigator Equity could also be used in its relative valuation, which is a method of valuing Navigator Equity by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |