Riverpark/next Century Correlations

RPNCX Fund

9.90 0.21 2.08%

The current 90-days correlation between Riverpark/next Century and Allianzgi International Small Cap is 0.1 (i.e., Average diversification). The correlation of Riverpark/next Century 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.

Riverpark/next Century Correlation With Market

Good diversification

The correlation between Riverparknext Century Growth and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Riverparknext Century Growth 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 Riverparknext Century Growth. 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 main economic indicators.

Moving together with Riverpark/next Mutual Fund

0.86	RPNRX	Riverpark/next Century	Pair Corr
0.92	RPNIX	Riverpark/next Century	Pair Corr
0.96	RPNLX	Riverpark/next Century	Pair Corr
0.89	RPXIX	Riverpark Large Growth	Pair Corr
0.89	RPXFX	Riverpark Large Growth	Pair Corr
0.96	RWGFX	Riverpark/wedgewood	Pair Corr
0.96	RWGIX	Riverpark/wedgewood	Pair Corr
0.82	RLSIX	Riverpark Long/short	Pair Corr
0.9	RLSFX	Riverpark Long/short	Pair Corr
0.95	VSGAX	Vanguard Small Cap	Pair Corr
0.95	VSGIX	Vanguard Small Cap	Pair Corr
0.95	VISGX	Vanguard Small Cap	Pair Corr
0.91	VEXPX	Vanguard Explorer	Pair Corr
0.91	VEXRX	Vanguard Explorer	Pair Corr
0.95	JGMIX	Janus Triton	Pair Corr
0.92	JGMRX	Janus Triton	Pair Corr
0.92	JGMAX	Janus Triton	Pair Corr
0.95	JGMCX	Janus Triton	Pair Corr
0.92	JGMNX	Janus Triton	Pair Corr
0.91	VTSAX	Vanguard Total Stock	Pair Corr
0.83	VFIAX	Vanguard 500 Index	Pair Corr
0.91	VTSMX	Vanguard Total Stock	Pair Corr
0.9	VSMPX	Vanguard Total Stock	Pair Corr
0.9	VSTSX	Vanguard Total Stock	Pair Corr
0.9	VITSX	Vanguard Total Stock	Pair Corr
0.89	VFINX	Vanguard 500 Index	Pair Corr
0.89	VFFSX	Vanguard 500 Index	Pair Corr

Moving against Riverpark/next Mutual Fund

0.68	RCRIX	Riverpark Floating Rate	Pair Corr
0.63	RSIVX	Riverpark Strategic	Pair Corr
0.59	RPHIX	Riverpark Short Term	Pair Corr
0.54	RPHYX	Riverpark Short Term	Pair Corr
0.53	RSIIX	Riverpark Strategic	Pair Corr
0.37	RCRFX	Riverpark Floating Rate	Pair Corr
0.75	NSIVX	North Square Investments	Pair Corr
0.75	LIDRX	Lord Abbett International	Pair Corr
0.63	VGTSX	Vanguard Total Inter	Pair Corr
0.46	VTIAX	Vanguard Total Inter	Pair Corr
0.38	COICX	Calvert International	Pair Corr

Related Correlations Analysis

	AOPAX	CSCVX	BPSCX	SMVTX	TIMVX	DRSVX	ARSVX
AOPAX		0.57	-0.2	-0.28	-0.29	-0.38	-0.31	AOPAX
CSCVX	0.57		0.08	0.07	0.04	0.08	-0.02	CSCVX
BPSCX	-0.2	0.08		0.94	0.87	0.13	0.93	BPSCX
SMVTX	-0.28	0.07	0.94		0.93	0.32	0.94	SMVTX
TIMVX	-0.29	0.04	0.87	0.93		0.37	0.91	TIMVX
DRSVX	-0.38	0.08	0.13	0.32	0.37		0.19	DRSVX
ARSVX	-0.31	-0.02	0.93	0.94	0.91	0.19		ARSVX
	AOPAX	CSCVX	BPSCX	SMVTX	TIMVX	DRSVX	ARSVX

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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

SMVTX	+ 0.94	BPSCX
ARSVX	+ 0.94	SMVTX
ARSVX	+ 0.93	BPSCX
TIMVX	+ 0.93	SMVTX
ARSVX	+ 0.91	TIMVX
TIMVX	+ 0.87	BPSCX

High negative correlations

DRSVX	- 0.38	AOPAX
ARSVX	- 0.31	AOPAX
TIMVX	- 0.29	AOPAX
SMVTX	- 0.28	AOPAX
BPSCX	- 0.2	AOPAX
ARSVX	- 0.02	CSCVX

Risk-Adjusted Indicators

There is a big difference between Riverpark/next Mutual Fund performing well and Riverpark/next Century 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 Riverpark/next Century'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
AOPAX	0.44	0.09	0.16	0.18	0.48	(0.50)	1.15	(1.13)	3.90
CSCVX	0.29	(0.02)	0.00	(1.56)	0.00	0.00	0.97	(0.61)	3.87
BPSCX	0.81	(0.07)	0.00	0.70	0.00	0.00	1.61	(1.91)	4.06
SMVTX	0.87	(0.02)	0.00	0.22	0.00	0.00	1.55	(2.20)	4.10
TIMVX	0.74	0.00	0.00	(0.02)	0.00	0.00	1.41	(1.65)	3.55
DRSVX	1.16	(0.29)	0.00	(0.23)	0.00	0.00	1.50	(2.28)	21.20
ARSVX	0.68	(0.04)	0.00	0.65	0.00	0.00	1.47	(1.50)	3.39

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