Stone Ridge Correlations

SHRIX Fund

USD 8.93 0.01 0.11%

The current 90-days correlation between Stone Ridge High and Alpine Ultra Short is -0.01 (i.e., Good 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 0.16 (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

1.0	SHRMX	Stone Ridge High	Pair Corr
0.82	SRDAX	Stone Ridge Diversified	Pair Corr
0.83	SRDBX	Stone Ridge Diversified	Pair Corr

Moving against Stone Mutual Fund

0.7	LMLCX	Western Asset Smash	Pair Corr
0.62	MISHX	Ab Municipal Income	Pair Corr
0.58	NMTRX	Municipal Total Return	Pair Corr
0.52	BRAMX	Bats Series M	Pair Corr
0.44	LMSMX	Western Asset Smash	Pair Corr
0.4	FXICX	Fixed Income Shares	Pair Corr
0.38	FXIMX	Fixed Income Shares	Pair Corr
0.42	RYHIX	Health Care Fund	Pair Corr
0.33	VPISX	Voya Index Solution	Pair Corr
0.31	ELBCX	Ashmore Emerging Markets	Pair Corr
0.55	POVSX	Putnam International	Pair Corr
0.52	MQGIX	Mfs International Growth	Pair Corr
0.39	SMOYX	Simt Multi Asset	Pair Corr
0.38	FCNTX	Fidelity Contrafund	Pair Corr

Related Correlations Analysis

	ATOAX	CGTCX	LOISX	BBINX	USGFX	ACASX
ATOAX		0.15	0.17	0.15	0.22	0.01	ATOAX
CGTCX	0.15		0.85	0.84	0.92	0.98	CGTCX
LOISX	0.17	0.85		1.0	0.94	0.85	LOISX
BBINX	0.15	0.84	1.0		0.94	0.85	BBINX
USGFX	0.22	0.92	0.94	0.94		0.9	USGFX
ACASX	0.01	0.98	0.85	0.85	0.9		ACASX
	ATOAX	CGTCX	LOISX	BBINX	USGFX	ACASX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ATOAX	0.02	0.00	0.00	(0.44)	0.00	0.00	0.00	0.00	0.30
CGTCX	0.26	0.04	0.29	0.32	0.20	(0.31)	0.60	(0.43)	1.64
LOISX	0.14	0.01	0.25	(0.79)	0.13	(0.17)	0.29	(0.30)	1.27
BBINX	0.14	0.01	0.26	(0.36)	0.11	(0.18)	0.29	(0.29)	1.17
USGFX	0.25	0.03	0.29	(0.37)	0.17	(0.33)	0.59	(0.42)	1.62
ACASX	0.29	0.03	0.22	0.34	0.26	(0.37)	0.66	(0.53)	1.87

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