Stone Ridge Correlations

SHRIX Fund  USD 8.99  0.01  0.11%   
The current 90-days correlation between Stone Ridge High and Vanguard Short Term Government is 0.36 (i.e., Weak diversification). The correlation of Stone Ridge 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.

Stone Ridge Correlation With Market

Average diversification

The correlation between Stone Ridge High and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stone Ridge High and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stone Ridge High. 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 gross domestic product.

Moving together with Stone Mutual Fund

  0.99SHRMX Stone Ridge HighPairCorr

Moving against Stone Mutual Fund

  0.46CIF Mfs Intermediate HighPairCorr
  0.42NXJ Nuveen New JerseyPairCorr
  0.39XDSMX Dreyfus StrategicPairCorr
  0.39XNXJX Nuveen New JerseyPairCorr
  0.5JULMX Multimanager LifestylePairCorr
  0.42VWIGX Vanguard InternationalPairCorr
  0.35XNBHX Neuberger Berman IntPairCorr
  0.52ACMTX Ab All MarketPairCorr
  0.33HFHCX Hartford FloatingPairCorr
  0.32WMRIX Wilmington Multi-managerPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Stone Mutual Fund performing well and Stone Ridge 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 Stone Ridge'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.