Rivernorth Core Correlations

RNCOX Fund

USD 7.68 0.01 0.13%

The current 90-days correlation between Rivernorth E Opportunity and Ftufox is 0.1 (i.e., Average diversification). The correlation of Rivernorth Core 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.

Rivernorth Core Correlation With Market

Very weak diversification

The correlation between Rivernorth E Opportunity and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rivernorth E Opportunity 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 E Opportunity. 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 persons.

Moving together with Rivernorth Mutual Fund

1.0	RNCIX	Rivernorth E Opportunity	Pair Corr
0.86	RNOTX	Rivernorthoaktree High	Pair Corr
0.84	FBONX	American Funds American	Pair Corr
0.84	FBAFX	American Funds American	Pair Corr
0.83	ABALX	American Balanced	Pair Corr
0.81	BALCX	American Balanced	Pair Corr
0.83	BALFX	American Balanced	Pair Corr
0.82	RLBCX	American Balanced	Pair Corr
0.81	RLBBX	American Balanced	Pair Corr
0.83	CLBAX	American Balanced	Pair Corr
0.83	CLBEX	American Balanced	Pair Corr
0.84	RLBFX	American Balanced	Pair Corr
0.62	UTF	Cohen And Steers	Pair Corr
0.97	PGLSX	Global Multi Strategy	Pair Corr
0.62	SGDLX	Sprott Gold Equity	Pair Corr
0.72	EBSIX	Campbell Systematic Macro	Pair Corr
0.7	DLDFX	Destinations Low Duration	Pair Corr
0.64	GIOIX	Guggenheim Macro Opp	Pair Corr
0.78	DBIWX	Dws Global Macro	Pair Corr
0.95	HWACX	Hotchkis Wiley Value	Pair Corr
0.76	HTD	John Hancock Tax	Pair Corr

Related Correlations Analysis

	FTUFOX	ABVCX	IAADX	RPBAX	FMFTX	FZNOPX	FURYAX
FTUFOX		-0.12	0.66	0.29	0.24	-0.38	-0.32	FTUFOX
ABVCX	-0.12		0.27	0.59	0.41	0.78	0.91	ABVCX
IAADX	0.66	0.27		0.46	0.08	-0.26	-0.07	IAADX
RPBAX	0.29	0.59	0.46		0.66	0.35	0.46	RPBAX
FMFTX	0.24	0.41	0.08	0.66		0.45	0.42	FMFTX
FZNOPX	-0.38	0.78	-0.26	0.35	0.45		0.93	FZNOPX
FURYAX	-0.32	0.91	-0.07	0.46	0.42	0.93		FURYAX
	FTUFOX	ABVCX	IAADX	RPBAX	FMFTX	FZNOPX	FURYAX

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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

FURYAX	+ 0.93	FZNOPX
FURYAX	+ 0.91	ABVCX
FZNOPX	+ 0.78	ABVCX
IAADX	+ 0.66	FTUFOX
FMFTX	+ 0.66	RPBAX
RPBAX	+ 0.59	ABVCX

High negative correlations

FZNOPX	- 0.38	FTUFOX
FURYAX	- 0.32	FTUFOX
FZNOPX	- 0.26	IAADX
ABVCX	- 0.12	FTUFOX
FURYAX	- 0.07	IAADX

Risk-Adjusted Indicators

There is a big difference between Rivernorth Mutual Fund performing well and Rivernorth Core 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 Rivernorth Core'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
FTUFOX	0.10	0.00	0.00	0.13	0.01	(0.10)	0.20	(0.19)	0.60
ABVCX	0.68	(0.02)	0.00	(0.02)	0.00	0.00	1.38	(1.63)	3.68
IAADX	0.22	(0.01)	0.00	0.20	0.00	0.00	0.44	(0.33)	2.51
RPBAX	0.57	(0.08)	0.00	0.27	0.00	0.00	0.93	(1.07)	6.78
FMFTX	0.92	(0.14)	0.00	(5.00)	0.00	0.00	1.43	(2.17)	8.22
FZNOPX	0.76	0.01	0.01	0.02	0.84	(0.87)	1.55	(1.59)	3.75
FURYAX	0.69	0.00	(0.01)	0.00	0.80	(0.78)	1.21	(1.39)	2.96

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