One Rock Correlations

ONERX Fund

USD 55.15 1.21 2.24%

The current 90-days correlation between One Rock Fund and Fidelity Capital Income is 0.79 (i.e., Poor diversification). The correlation of One Rock 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.

One Rock Correlation With Market

Poor diversification

The correlation between One Rock Fund and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding One Rock Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in One Rock Fund. 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 One Mutual Fund

0.61	PRJIX	T Rowe Price	Pair Corr
0.83	PRNHX	T Rowe Price	Pair Corr
0.62	TRUZX	T Rowe Price	Pair Corr
0.62	PCBIX	Midcap Fund Institutional	Pair Corr
0.9	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.9	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.9	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.92	JFR	Nuveen Floating Rate	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.95	NLSAX	Neuberger Berman Long	Pair Corr
0.96	QCEQRX	College Retirement	Pair Corr
0.88	BPTIX	Baron Partners	Pair Corr
0.9	CSOAX	Credit Suisse Strategic	Pair Corr
0.92	HIAGX	Hartford Disciplined	Pair Corr
0.91	NCZ	Allianzgi Convertible	Pair Corr
0.89	JPHAX	Jpmorgan Floating Rate	Pair Corr
0.92	PBAKX	Blackrock Tactical	Pair Corr
0.95	AOFCX	Alger Small Cap	Pair Corr
0.92	LMOFX	Miller Opportunity Trust	Pair Corr
0.85	CHICX	Credit Suisse Floating	Pair Corr
0.75	PMYRX	Pioneer Flexible Opp	Pair Corr
0.92	LRRRX	Floating Rate	Pair Corr
0.88	FORFX	Forum Real Estate	Pair Corr
0.86	CSOIX	Credit Suisse Strategic	Pair Corr
0.9	JHQDX	Jpmorgan Hedged Equity	Pair Corr
0.98	BTEEX	Baron Select Funds	Pair Corr

Related Correlations Analysis

	FAGIX	FRFZX	ESFCX	QAISX	VFIAX	APDYX	SICWX	FELTX	VFINX
FAGIX		0.86	-0.27	0.7	0.95	0.92	0.95	0.41	0.95	FAGIX
FRFZX	0.86		-0.28	0.83	0.86	0.8	0.86	0.42	0.86	FRFZX
ESFCX	-0.27	-0.28		-0.35	-0.35	-0.11	-0.3	0.03	-0.35	ESFCX
QAISX	0.7	0.83	-0.35		0.85	0.68	0.82	0.67	0.85	QAISX
VFIAX	0.95	0.86	-0.35	0.85		0.87	0.99	0.54	1.0	VFIAX
APDYX	0.92	0.8	-0.11	0.68	0.87		0.87	0.48	0.86	APDYX
SICWX	0.95	0.86	-0.3	0.82	0.99	0.87		0.55	0.99	SICWX
FELTX	0.41	0.42	0.03	0.67	0.54	0.48	0.55		0.55	FELTX
VFINX	0.95	0.86	-0.35	0.85	1.0	0.86	0.99	0.55		VFINX
	FAGIX	FRFZX	ESFCX	QAISX	VFIAX	APDYX	SICWX	FELTX	VFINX

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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

VFINX	+ 1.0	VFIAX
SICWX	+ 0.99	VFIAX
VFINX	+ 0.99	SICWX
VFIAX	+ 0.95	FAGIX
SICWX	+ 0.95	FAGIX
VFINX	+ 0.95	FAGIX

High negative correlations

VFINX	- 0.35	ESFCX
VFIAX	- 0.35	ESFCX
QAISX	- 0.35	ESFCX
SICWX	- 0.3	ESFCX
ESFCX	- 0.28	FRFZX
ESFCX	- 0.27	FAGIX

Risk-Adjusted Indicators

There is a big difference between One Mutual Fund performing well and One Rock 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 One Rock'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
FAGIX	0.21	0.01	(0.05)	0.06	0.23	(0.25)	0.40	(0.30)	2.05
FRFZX	0.08	0.03	(0.06)	4.15	0.00	(0.24)	0.11	(0.11)	0.89
ESFCX	0.20	0.01	(0.06)	(0.99)	0.18	(0.38)	0.44	(0.43)	1.93
QAISX	0.34	0.07	0.04	0.22	0.41	(0.58)	1.11	(0.42)	3.09
VFIAX	0.52	0.05	0.05	0.10	0.72	(0.52)	1.09	(0.96)	5.48
APDYX	0.71	0.07	0.05	0.13	0.95	(0.71)	1.40	(1.48)	4.81
SICWX	0.49	0.04	0.04	0.09	0.71	(0.51)	1.07	(1.18)	4.66
FELTX	1.53	0.15	0.07	0.17	1.94	(1.56)	3.12	(3.09)	7.80
VFINX	0.53	0.05	0.05	0.10	0.72	(0.53)	1.09	(0.96)	5.48

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