Rivernorth Opportunistic Correlations

RMI Fund

USD 15.05 0.04 0.27%

The current 90-days correlation between Rivernorth Opportunistic and MFS Investment Grade is 0.52 (i.e., Very weak diversification). The correlation of Rivernorth Opportunistic 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.

Rivernorth Opportunistic Correlation With Market

Modest diversification

The correlation between Rivernorth Opportunistic Munic and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rivernorth Opportunistic Munic 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 Rivernorth Opportunistic Municipalome. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Rivernorth Fund

0.69	VWITX	Vanguard Intermediate-ter	Pair Corr
0.7	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.7	AFTEX	Tax Exempt Bond	Pair Corr
0.67	AFTFX	Tax Exempt Bond	Pair Corr
0.72	TEBCX	Tax Exempt Bond	Pair Corr
0.7	TEAFX	Tax Exempt Bond	Pair Corr
0.7	TFEBX	Tax Exempt Bond	Pair Corr
0.73	FLTMX	Fidelity Intermediate	Pair Corr
0.7	MDNLX	Blackrock National	Pair Corr
0.72	MFNLX	Blackrock Natl Muni	Pair Corr
0.81	RRTLX	T Rowe Price	Pair Corr
0.84	RA	Brookfield Real Assets	Pair Corr
0.61	PDI	Pimco Dynamic Income	Pair Corr
0.76	AMTAX	Ab All Market	Pair Corr

Moving against Rivernorth Fund

0.42

EGF

Blackrock Enhanced

Pair Corr

Related Correlations Analysis

	CXH	JPT	RMM	MHN	CBH	IHTA	EOT	FMN	NXC
CXH		0.0	0.72	0.81	0.0	0.0	0.84	0.84	0.56	CXH
JPT	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	JPT
RMM	0.72	0.0		0.87	0.0	0.0	0.78	0.89	0.48	RMM
MHN	0.81	0.0	0.87		0.0	0.0	0.77	0.83	0.46	MHN
CBH	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CBH
IHTA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	IHTA
EOT	0.84	0.0	0.78	0.77	0.0	0.0		0.89	0.64	EOT
FMN	0.84	0.0	0.89	0.83	0.0	0.0	0.89		0.62	FMN
NXC	0.56	0.0	0.48	0.46	0.0	0.0	0.64	0.62		NXC
	CXH	JPT	RMM	MHN	CBH	IHTA	EOT	FMN	NXC

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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

FMN	+ 0.89	RMM
FMN	+ 0.89	EOT
MHN	+ 0.87	RMM
EOT	+ 0.84	CXH
FMN	+ 0.84	CXH
FMN	+ 0.83	MHN

High negative correlations

NXC	- 0.0	IHTA
FMN	- 0.0	IHTA
EOT	- 0.0	IHTA
NXC	- 0.0	CBH
FMN	- 0.0	CBH
EOT	- 0.0	CBH

Risk-Adjusted Indicators

There is a big difference between Rivernorth Fund performing well and Rivernorth Opportunistic 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 Rivernorth Opportunistic'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
CXH	0.37	0.01	0.09	0.02	0.52	(0.37)	0.76	(0.75)	2.37
JPT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RMM	0.41	0.00	0.08	(0.03)	0.54	(0.42)	0.69	(0.93)	2.75
MHN	0.45	0.00	0.08	(0.04)	0.56	(0.52)	0.87	(1.08)	2.81
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IHTA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.43	0.03	0.12	0.08	0.56	(0.44)	1.01	(1.01)	2.87
FMN	0.43	0.00	0.09	(0.03)	0.49	(0.50)	0.81	(0.72)	3.01
NXC	0.35	0.01	0.12	(0.01)	0.41	(0.38)	0.78	(0.62)	1.98

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