1290 Unconstrained Correlations

TNURX Fund

USD 8.12 0.03 0.37%

The current 90-days correlation between 1290 Unconstrained Bond and Gamco Global Gold is 0.08 (i.e., Significant diversification). The correlation of 1290 Unconstrained 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 Unconstrained Correlation With Market

Significant diversification

The correlation between 1290 Unconstrained Bond and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Unconstrained Bond 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 Unconstrained Bond. 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 metropolitan statistical area.

Moving together with 1290 Mutual Fund

0.79	TNIIX	1290 Retirement 2020	Pair Corr
0.73	TNHAX	1290 High Yield	Pair Corr
0.63	TNHIX	1290 High Yield	Pair Corr
0.61	TNHRX	1290 High Yield	Pair Corr
0.64	TNKIX	1290 Retirement 2030	Pair Corr
0.78	TNJIX	1290 Retirement 2025	Pair Corr
0.72	TNLIX	1290 Retirement 2035	Pair Corr
0.66	TNOIX	1290 Retirement 2045	Pair Corr
0.61	TNQIX	1290 Retirement 2055	Pair Corr
1.0	TNUAX	1290 Unconstrained Bond	Pair Corr
0.86	TNUIX	1290 Unconstrained Bond	Pair Corr
0.63	TNWIX	1290 Retirement 2050	Pair Corr
0.8	MWTNX	Metropolitan West Total	Pair Corr
0.79	MWTSX	Metropolitan West Total	Pair Corr
0.8	PTTPX	Pimco Total Return	Pair Corr
0.8	PTRRX	Total Return	Pair Corr
0.8	PTRAX	Total Return	Pair Corr
0.8	PTTRX	Total Return	Pair Corr
0.8	FIWGX	Strategic Advisers	Pair Corr
0.82	DODIX	Dodge Income	Pair Corr
0.79	MWTIX	Metropolitan West Total	Pair Corr

Moving against 1290 Mutual Fund

0.67	ESCKX	1290 Funds	Pair Corr
0.67	ESCJX	1290 Essex Small	Pair Corr
0.67	ESCFX	1290 Funds	Pair Corr
0.57	TNRAX	1290 Funds	Pair Corr
0.47	TNVAX	1290 Gamco Smallmid	Pair Corr
0.42	TNVIX	1290 Gamco Smallmid	Pair Corr
0.57	TNXIX	1290 Retirement 2060	Pair Corr
0.54	GCAVX	Gmo Small Cap	Pair Corr
0.45	GMCQX	Gmo Equity Allocation	Pair Corr
0.43	TNVRX	1290 Gamco Smallmid	Pair Corr

Related Correlations Analysis

	XGGNX	FRGOX	MXKJX	FGDIX	VGSBX	IIGCX	GCEBX
XGGNX		0.94	-0.53	0.94	0.63	0.94	0.33	XGGNX
FRGOX	0.94		-0.55	1.0	0.75	1.0	0.49	FRGOX
MXKJX	-0.53	-0.55		-0.55	-0.5	-0.55	-0.34	MXKJX
FGDIX	0.94	1.0	-0.55		0.76	1.0	0.47	FGDIX
VGSBX	0.63	0.75	-0.5	0.76		0.74	0.64	VGSBX
IIGCX	0.94	1.0	-0.55	1.0	0.74		0.45	IIGCX
GCEBX	0.33	0.49	-0.34	0.47	0.64	0.45		GCEBX
	XGGNX	FRGOX	MXKJX	FGDIX	VGSBX	IIGCX	GCEBX

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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

FGDIX	+ 1.0	FRGOX
IIGCX	+ 1.0	FRGOX
IIGCX	+ 1.0	FGDIX
FRGOX	+ 0.94	XGGNX
FGDIX	+ 0.94	XGGNX
IIGCX	+ 0.94	XGGNX

High negative correlations

IIGCX	- 0.55	MXKJX
FGDIX	- 0.55	MXKJX
MXKJX	- 0.55	FRGOX
MXKJX	- 0.53	XGGNX
VGSBX	- 0.5	MXKJX
GCEBX	- 0.34	MXKJX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Unconstrained 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 Unconstrained'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
XGGNX	0.60	0.12	0.13	(2.81)	0.68	(0.69)	1.44	(1.04)	3.21
FRGOX	1.21	0.43	0.26	0.79	1.13	(1.37)	3.38	(2.63)	6.89
MXKJX	1.09	(0.07)	0.00	(0.09)	0.00	0.00	1.50	(1.97)	26.05
FGDIX	1.24	0.36	0.22	0.81	1.29	(1.41)	3.15	(2.74)	6.82
VGSBX	0.18	0.00	(0.01)	0.00	0.20	(0.24)	0.43	(0.32)	0.98
IIGCX	1.25	0.35	0.20	0.84	1.29	(1.36)	3.26	(2.87)	7.27
GCEBX	0.73	0.02	0.02	0.09	1.12	(0.72)	1.49	(2.40)	4.21

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