1290 Gamco Correlations

TNVIX Fund

USD 16.45 0.14 0.84%

The current 90-days correlation between 1290 Gamco Smallmid and Smallcap Fund Fka is 0.9 (i.e., Almost no diversification). The correlation of 1290 Gamco 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 Gamco Correlation With Market

Poor diversification

The correlation between 1290 Gamco Smallmid and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Gamco Smallmid 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 Gamco Smallmid. 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 1290 Mutual Fund

0.91	ESCKX	1290 Funds	Pair Corr
0.91	ESCJX	1290 Essex Small	Pair Corr
0.91	ESCFX	1290 Funds	Pair Corr
0.62	TNBIX	1290 Smartbeta Equity	Pair Corr
0.63	TNBRX	1290 Smartbeta Equity	Pair Corr
0.63	TNBAX	1290 Smartbeta Equity	Pair Corr
0.91	TNRAX	1290 Funds	Pair Corr
1.0	TNVAX	1290 Gamco Smallmid	Pair Corr
0.91	TNXIX	1290 Retirement 2060	Pair Corr
1.0	TNVRX	1290 Gamco Smallmid	Pair Corr
0.97	VSIIX	Vanguard Small Cap	Pair Corr
0.97	VISVX	Vanguard Small Cap	Pair Corr
0.96	DFSVX	Us Small Cap	Pair Corr
0.97	DFFVX	Us Targeted Value	Pair Corr
0.97	UBVCX	Undiscovered Managers	Pair Corr
0.97	UBVAX	Undiscovered Managers	Pair Corr
0.97	UBVSX	Undiscovered Managers	Pair Corr
0.9	AVFIX	American Beacon Small	Pair Corr
0.93	VSTSX	Vanguard Total Stock	Pair Corr

Moving against 1290 Mutual Fund

0.41	TNUAX	1290 Unconstrained Bond	Pair Corr
0.39	TNURX	1290 Unconstrained Bond	Pair Corr
0.4	TNUIX	1290 Unconstrained Bond	Pair Corr
0.39	VSIEX	Jpmorgan International	Pair Corr
0.32	VTISX	Vanguard Total Inter	Pair Corr
0.32	VTSNX	Vanguard Total Inter	Pair Corr
0.32	VTPSX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	PSBMX	QSERX	TVOYX	CCMSX	ESCIX	GMAPX	HSCVX
PSBMX		0.88	0.98	0.0	0.56	0.99	0.98	PSBMX
QSERX	0.88		0.88	0.0	0.47	0.88	0.89	QSERX
TVOYX	0.98	0.88		0.0	0.54	0.96	0.99	TVOYX
CCMSX	0.0	0.0	0.0		0.0	0.0	0.0	CCMSX
ESCIX	0.56	0.47	0.54	0.0		0.54	0.53	ESCIX
GMAPX	0.99	0.88	0.96	0.0	0.54		0.98	GMAPX
HSCVX	0.98	0.89	0.99	0.0	0.53	0.98		HSCVX
	PSBMX	QSERX	TVOYX	CCMSX	ESCIX	GMAPX	HSCVX

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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

GMAPX	+ 0.99	PSBMX
HSCVX	+ 0.99	TVOYX
TVOYX	+ 0.98	PSBMX
HSCVX	+ 0.98	PSBMX
HSCVX	+ 0.98	GMAPX
GMAPX	+ 0.96	TVOYX

High negative correlations

HSCVX	- 0.0	CCMSX
GMAPX	- 0.0	CCMSX
ESCIX	- 0.0	CCMSX
CCMSX	- 0.0	TVOYX
CCMSX	- 0.0	QSERX
CCMSX	- 0.0	PSBMX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Gamco 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 Gamco'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PSBMX	1.01	(0.14)	(0.21)	1.64	(2.32)	5.36
QSERX	1.15	(0.23)	(0.21)	1.83	(2.52)	12.07
TVOYX	0.84	(0.10)	(0.17)	1.43	(1.95)	4.01
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00
ESCIX	0.75	0.00	(0.07)	1.87	(2.03)	4.56
GMAPX	0.99	(0.12)	(0.18)	1.80	(2.81)	5.33
HSCVX	0.79	(0.09)	(0.18)	1.42	(1.78)	3.38

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