Counterpoint Tactical Correlations

TMNCX Fund

USD 10.78 0.05 0.46%

The current 90-days correlation between Counterpoint Tactical and Counterpoint Tactical Municipal is 0.98 (i.e., Almost no diversification). The correlation of Counterpoint Tactical 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.

Counterpoint Tactical Correlation With Market

Very good diversification

The correlation between Counterpoint Tactical Municipa and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Counterpoint Tactical Municipa 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 Counterpoint Tactical Municipal. 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 Counterpoint Mutual Fund

0.99	TMNIX	Counterpoint Tactical	Pair Corr
0.99	TMNAX	Counterpoint Tactical	Pair Corr
0.84	NHMAX	Nuveen High Yield	Pair Corr
0.86	NHCCX	Nuveen High Yield	Pair Corr
0.84	NHMRX	Nuveen High Yield	Pair Corr
0.85	NHMFX	Nuveen High Yield	Pair Corr
0.93	ABHFX	American High Income	Pair Corr
0.98	AHICX	American High Income	Pair Corr
0.96	AMHIX	American High Income	Pair Corr
0.98	GHYCX	Goldman Sachs High	Pair Corr
0.97	GHYAX	Goldman Sachs High	Pair Corr
0.95	ACTDX	Invesco High Yield	Pair Corr
0.75	GPBFX	Gmo E Plus	Pair Corr
0.66	WARCX	Wells Fargo Advantage	Pair Corr
0.64	RA	Brookfield Real Assets	Pair Corr
0.61	AHYDX	High Yield Fund	Pair Corr

Moving against Counterpoint Mutual Fund

0.32

GRFXX

Money Market Obligations

Pair Corr

Related Correlations Analysis

	TMNIX	TMNCX	TMNAX	CPATX	CPAEX	CPCTX	CPCEX	CPIEX	CPITX
TMNIX		0.99	1.0	0.06	-0.02	0.08	-0.02	-0.02	0.14	TMNIX
TMNCX	0.99		0.99	-0.05	-0.12	-0.03	-0.12	-0.12	0.04	TMNCX
TMNAX	1.0	0.99		0.02	-0.05	0.04	-0.05	-0.05	0.1	TMNAX
CPATX	0.06	-0.05	0.02		0.94	0.99	0.94	0.94	0.96	CPATX
CPAEX	-0.02	-0.12	-0.05	0.94		0.94	1.0	1.0	0.94	CPAEX
CPCTX	0.08	-0.03	0.04	0.99	0.94		0.94	0.94	0.97	CPCTX
CPCEX	-0.02	-0.12	-0.05	0.94	1.0	0.94		1.0	0.94	CPCEX
CPIEX	-0.02	-0.12	-0.05	0.94	1.0	0.94	1.0		0.94	CPIEX
CPITX	0.14	0.04	0.1	0.96	0.94	0.97	0.94	0.94		CPITX
	TMNIX	TMNCX	TMNAX	CPATX	CPAEX	CPCTX	CPCEX	CPIEX	CPITX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

TMNAX	+ 1.0	TMNIX
CPCEX	+ 1.0	CPAEX
CPIEX	+ 1.0	CPAEX
CPIEX	+ 1.0	CPCEX
TMNCX	+ 0.99	TMNIX
TMNAX	+ 0.99	TMNCX

High negative correlations

CPIEX	- 0.12	TMNCX
CPCEX	- 0.12	TMNCX
CPAEX	- 0.12	TMNCX
CPIEX	- 0.05	TMNAX
CPCEX	- 0.05	TMNAX
CPAEX	- 0.05	TMNAX

Risk-Adjusted Indicators

There is a big difference between Counterpoint Mutual Fund performing well and Counterpoint Tactical 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 Counterpoint Tactical'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
TMNIX	0.15	0.00	0.00	0.11	0.00	0.00	0.37	(0.36)	1.65
TMNCX	0.15	(0.01)	0.00	0.18	0.00	0.00	0.37	(0.37)	1.58
TMNAX	0.15	(0.01)	0.00	0.14	0.00	0.00	0.37	(0.36)	1.65
CPATX	0.07	0.01	(0.51)	0.18	0.00	(0.13)	0.18	(0.09)	0.61
CPAEX	0.59	0.10	0.10	0.25	0.47	(0.71)	1.28	(0.94)	4.98
CPCTX	0.08	0.01	(0.53)	0.17	0.00	(0.12)	0.18	(0.18)	0.53
CPCEX	0.59	0.10	0.10	0.25	0.48	(0.69)	1.32	(0.91)	4.97
CPIEX	0.59	0.10	0.10	0.25	0.47	(0.71)	1.34	(0.92)	4.96
CPITX	0.08	0.01	(0.51)	0.20	0.00	(0.11)	0.18	(0.18)	0.53

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC