Tocqueville International Correlations

TIVFX Fund

USD 15.50 0.09 0.58%

The current 90-days correlation between Tocqueville International and The Tocqueville Fund is 0.37 (i.e., Weak diversification). The correlation of Tocqueville International 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.

Tocqueville International Correlation With Market

Modest diversification

The correlation between The Tocqueville International and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Tocqueville International 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 The Tocqueville International. 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 census.

Moving together with Tocqueville Mutual Fund

0.66

BRLGX

American Beacon Bridgeway

Pair Corr

Moving against Tocqueville Mutual Fund

0.38	SSIJX	American Beacon Ssi	Pair Corr
0.35	GHQIX	Amer Beacon Garcia	Pair Corr
0.35	GHQRX	American Beacon Garcia	Pair Corr
0.35	GHQYX	Amer Beacon Garcia	Pair Corr
0.32	GHQPX	Amer Beacon Garcia	Pair Corr

Related Correlations Analysis

	TOCQX	LZSMX	DREGX	UMEMX	OAKEX
TOCQX		-0.26	0.02	0.03	-0.49	TOCQX
LZSMX	-0.26		0.71	0.82	0.95	LZSMX
DREGX	0.02	0.71		0.95	0.63	DREGX
UMEMX	0.03	0.82	0.95		0.73	UMEMX
OAKEX	-0.49	0.95	0.63	0.73		OAKEX
	TOCQX	LZSMX	DREGX	UMEMX	OAKEX

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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

OAKEX	+ 0.95	LZSMX
UMEMX	+ 0.95	DREGX
UMEMX	+ 0.82	LZSMX
OAKEX	+ 0.73	UMEMX
DREGX	+ 0.71	LZSMX
OAKEX	+ 0.63	DREGX

High negative correlations

OAKEX	- 0.49	TOCQX
LZSMX	- 0.26	TOCQX

Risk-Adjusted Indicators

There is a big difference between Tocqueville Mutual Fund performing well and Tocqueville International 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 Tocqueville International'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
TOCQX	0.91	(0.02)	0.00	(0.05)	0.00	0.00	1.71	(2.30)	4.84
LZSMX	0.65	0.12	0.16	0.18	0.67	(0.76)	1.54	(1.31)	4.41
DREGX	0.76	0.03	0.04	0.04	1.04	(0.73)	1.61	(1.66)	5.76
UMEMX	0.87	0.06	0.05	0.08	1.20	(0.85)	1.71	(1.72)	6.76
OAKEX	0.72	0.18	0.20	0.28	0.67	(0.79)	1.90	(1.49)	5.52

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