RiverNorth Managed Correlations

RMM Etf

USD 14.47 0.01 0.07%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as RiverNorth Managed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RiverNorth Managed Duration moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

RiverNorth Managed Correlation With Market

Modest diversification

The correlation between RiverNorth Managed Duration and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RiverNorth Managed Duration 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 Managed Duration. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with RiverNorth Etf

0.73	V	Visa Class A	Pair Corr
0.77	AC	Associated Capital	Pair Corr
0.72	GS	Goldman Sachs Group	Pair Corr
0.76	MA	Mastercard	Pair Corr
0.66	DOMH	Dominari Holdings Earnings Call This Week	Pair Corr
0.83	GCMGW	GCM Grosvenor	Pair Corr

Moving against RiverNorth Etf

0.46	TW	Tradeweb Markets	Pair Corr
0.43	DHIL	Diamond Hill Investment	Pair Corr
0.39	WD	Walker Dunlop	Pair Corr
0.38	VRTS	Virtus Investment	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	0.57	-0.52	0.29	0.43	0.3	0.91	-0.73	-0.04	META
MSFT	-0.01		-0.6	-0.02	-0.8	0.72	0.88	0.12	0.42	-0.56	MSFT
UBER	0.57	-0.6		-0.23	0.81	-0.28	-0.52	0.54	-0.84	0.57	UBER
F	-0.52	-0.02	-0.23		0.06	-0.14	-0.2	-0.41	0.44	0.42	F
T	0.29	-0.8	0.81	0.06		-0.6	-0.72	0.19	-0.65	0.61	T
A	0.43	0.72	-0.28	-0.14	-0.6		0.82	0.57	0.13	-0.38	A
CRM	0.3	0.88	-0.52	-0.2	-0.72	0.82		0.35	0.22	-0.62	CRM
JPM	0.91	0.12	0.54	-0.41	0.19	0.57	0.35		-0.63	0.0	JPM
MRK	-0.73	0.42	-0.84	0.44	-0.65	0.13	0.22	-0.63		-0.35	MRK
XOM	-0.04	-0.56	0.57	0.42	0.61	-0.38	-0.62	0.0	-0.35		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.91	META
CRM	+ 0.88	MSFT
CRM	+ 0.82	A
T	+ 0.81	UBER
A	+ 0.72	MSFT
XOM	+ 0.61	T

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.73	META
CRM	- 0.72	T
MRK	- 0.65	T
MRK	- 0.63	JPM

RiverNorth Managed Competition Risk-Adjusted Indicators

There is a big difference between RiverNorth Etf performing well and RiverNorth Managed ETF 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 Managed'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
META	1.63	0.03	0.01	0.02	2.30	(1.45)	2.96	(3.73)	8.90
MSFT	1.11	(0.21)	0.00	(0.24)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.89	0.35	0.15	0.55	2.08	(2.07)	4.72	(3.13)	12.75
F	1.44	0.10	0.05	0.09	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	0.54	1.45	(1.12)	1.90	(1.55)	11.66
A	1.16	(0.19)	0.00	(0.18)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.24)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.06	0.03	0.24	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.24	(0.18)	0.00	1.61	0.00	0.00	2.07	(2.25)	11.58
XOM	1.03	0.13	0.09	0.29	1.29	(1.05)	2.55	(2.36)	5.89

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