Aqr Small Correlations

QSMRX Fund

USD 17.71 0.13 0.73%

The current 90-days correlation between Aqr Small Cap and William Blair Small is -0.07 (i.e., Good diversification). The correlation of Aqr Small 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.

Aqr Small Correlation With Market

Good diversification

The correlation between Aqr Small Cap and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aqr Small Cap 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 Aqr Small Cap. 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 Aqr Mutual Fund

0.83	AMONX	Aqr Large Cap	Pair Corr
0.84	AMOMX	Aqr Large Cap	Pair Corr
0.84	QMORX	Aqr Large Cap	Pair Corr
1.0	ASMOX	Aqr Small Cap	Pair Corr
1.0	ASMNX	Aqr Small Cap	Pair Corr

Moving against Aqr Mutual Fund

0.65	QMNIX	Aqr Equity Market	Pair Corr
0.64	QMHIX	Aqr Managed Futures	Pair Corr
0.64	QMHRX	Aqr Managed Futures	Pair Corr
0.64	QMHNX	Aqr Managed Futures	Pair Corr
0.63	ANDRX	Aqr International	Pair Corr
0.63	ANDIX	Aqr International	Pair Corr
0.63	QMNNX	Aqr Equity Market	Pair Corr
0.63	QMNRX	Aqr Equity Market	Pair Corr
0.61	ANDNX	Aqr International	Pair Corr
0.47	QLEIX	Aqr Long Short	Pair Corr
0.47	QLERX	Aqr Long Short	Pair Corr
0.46	QLENX	Aqr Long Short	Pair Corr
0.57	AQMRX	Aqr Managed Futures	Pair Corr
0.57	AQMNX	Aqr Managed Futures	Pair Corr
0.57	AQMIX	Aqr Managed Futures	Pair Corr
0.78	ADAIX	Aqr Diversified Arbitrage	Pair Corr
0.77	ADANX	Aqr Diversified Arbitrage	Pair Corr
0.67	QSPIX	Aqr Style Premia	Pair Corr
0.65	QSPNX	Aqr Style Premia	Pair Corr
0.65	QSPRX	Aqr Style Premia	Pair Corr
0.56	QRPRX	Aqr Alternative Risk	Pair Corr

Related Correlations Analysis

	WBVNX	BPSCX	AFDVX	ARSMX	NOSGX	ABYSX
WBVNX		0.54	0.98	0.95	0.99	0.98	WBVNX
BPSCX	0.54		0.52	0.53	0.56	0.56	BPSCX
AFDVX	0.98	0.52		0.98	0.99	0.99	AFDVX
ARSMX	0.95	0.53	0.98		0.97	0.97	ARSMX
NOSGX	0.99	0.56	0.99	0.97		0.98	NOSGX
ABYSX	0.98	0.56	0.99	0.97	0.98		ABYSX
	WBVNX	BPSCX	AFDVX	ARSMX	NOSGX	ABYSX

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Risk-Adjusted Indicators

There is a big difference between Aqr Mutual Fund performing well and Aqr Small 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 Aqr Small'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
WBVNX	0.84	(0.04)	(0.12)	1.48	(2.07)	4.42
BPSCX	1.04	(0.25)	(0.34)	1.51	(2.12)	12.69
AFDVX	0.82	(0.02)	(0.10)	1.86	(1.93)	4.58
ARSMX	0.69	0.01	(0.05)	1.17	(1.37)	3.08
NOSGX	0.77	(0.03)	(0.11)	1.60	(1.93)	4.03
ABYSX	0.82	(0.02)	(0.10)	1.43	(2.08)	4.03

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