1290 Smartbeta Correlations

Mutual Funds . USA . 
Fund . 1290 Smartbeta Equity
TNBAX Fund  USD 19.16  0.03  0.16%   
The current 90-days correlation between 1290 Smartbeta Equity and Aqr Diversified Arbitrage is -0.02 (i.e., Good diversification). The correlation of 1290 Smartbeta 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.

1290 Smartbeta Correlation With Market

Very weak diversification

The correlation between 1290 Smartbeta Equity and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Smartbeta Equity 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 1290 Smartbeta Equity. 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 nation.

Moving together with 1290 Mutual Fund

  1.0TNBIX 1290 Smartbeta EquityPairCorr
  1.0TNBRX 1290 Smartbeta EquityPairCorr
  0.97TNIIX 1290 Retirement 2020PairCorr
  0.95TNKIX 1290 Retirement 2030PairCorr
  0.98TNJIX 1290 Retirement 2025PairCorr
  0.88TNLIX 1290 Retirement 2035PairCorr
  0.87TNOIX 1290 Retirement 2045PairCorr
  0.97TNNIX 1290 Retirement 2040PairCorr
  0.89TNQIX 1290 Retirement 2055PairCorr
  0.92TNURX 1290 Unconstrained BondPairCorr
  0.94TNVDX 1290 Doubleline DynamicPairCorr
  0.92TNVAX 1290 Gamco SmallmidPairCorr
  0.92TNVIX 1290 Gamco SmallmidPairCorr
  0.92TNUAX 1290 Unconstrained BondPairCorr
  0.89TNUIX 1290 Unconstrained BondPairCorr
  0.94TNXAX 1290 Doubleline DynamicPairCorr
  0.92TNVRX 1290 Gamco SmallmidPairCorr
  0.94TNWIX 1290 Retirement 2050PairCorr
  0.94TNYRX 1290 Doubleline DynamicPairCorr
  0.93FCWGX American Funds CapitalPairCorr
  0.93FWCGX American Funds CapitalPairCorr
  0.94CWGIX Capital World GrowthPairCorr
  0.94CWGFX Capital World GrowthPairCorr
  0.94CWGCX Capital World GrowthPairCorr
  0.93RWIFX Capital World GrowthPairCorr
  0.94CWICX Capital World GrowthPairCorr
  0.94RWIAX Capital World GrowthPairCorr
  0.94CWIAX Capital World GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Smartbeta 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 1290 Smartbeta'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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