Riverpark/next Century Correlations

Mutual Funds . USA . 
Fund . Riverparknext Century Lg
RPNLX Fund   11.93  0.09  0.76%   
The current 90-days correlation between Riverpark/next Century and Gold And Precious is -0.05 (i.e., Good 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

Poor diversification

The correlation between Riverparknext Century Lg and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Riverparknext Century Lg 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 Lg. 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 bureau of economic analysis.

Moving together with Riverpark/next Mutual Fund

  0.96RPNRX Riverpark/next CenturyPairCorr
  0.98RPNIX Riverpark/next CenturyPairCorr
  0.98RPNCX Riverpark/next CenturyPairCorr
  0.86RPXIX Riverpark Large GrowthPairCorr
  0.94RPXFX Riverpark Large GrowthPairCorr
  0.98RWGFX Riverpark/wedgewoodPairCorr
  0.98RWGIX Riverpark/wedgewoodPairCorr
  0.96RLSIX Riverpark Long/shortPairCorr
  0.96RLSFX Riverpark Long/shortPairCorr
  0.92FAFGX American FundsPairCorr
  0.92FFAFX American FundsPairCorr
  0.91GFACX Growth FundPairCorr
  0.92GFAFX Growth FundPairCorr
  0.94AGTHX Growth FundPairCorr
  0.92CGFFX Growth FundPairCorr
  0.91CGFCX Growth FundPairCorr
  0.92CGFAX Growth FundPairCorr
  0.92CGFEX Growth FundPairCorr
  0.92RGAEX Growth FundPairCorr
  0.76WHIYX Ivy High IncomePairCorr
  0.72IVHIX Ivy High IncomePairCorr
  0.72IHIFX Ivy High IncomePairCorr
  0.8WRHIX Ivy High IncomePairCorr
  0.76WHIAX Ivy High IncomePairCorr

Moving against Riverpark/next Mutual Fund

  0.6RCRFX Riverpark Floating RatePairCorr
  0.58RCRIX Riverpark Floating RatePairCorr
  0.57RSIVX Riverpark StrategicPairCorr
  0.55RSIIX Riverpark StrategicPairCorr
  0.54RPHIX Riverpark Short TermPairCorr
  0.54RPHYX Riverpark Short TermPairCorr
  0.77CRANX Community ReinvestmentPairCorr
  0.77PRICX Prudential GovernmentPairCorr
  0.71JEEIX John Hancock EnduringPairCorr
  0.68PLEDX Pacific Funds EsgPairCorr
  0.68FTBBYX FtbbyxPairCorr
  0.64CBNAX American Funds EmergingPairCorr
  0.32CSJZX Cohen Steers RealtyPairCorr

Related Correlations Analysis

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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.

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