Cornerstone Equity Correlations

Mutual Funds . USA . 
Fund . Cornerstone Equity Fund
UCEQX Fund  USD 17.94  0.04  0.22%   
The current 90-days correlation between Cornerstone Equity and Gmo International Equity is 0.81 (i.e., Very poor diversification). The correlation of Cornerstone Equity 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.

Cornerstone Equity Correlation With Market

Poor diversification

The correlation between Cornerstone Equity Fund and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cornerstone Equity Fund 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 Cornerstone Equity Fund. 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 producer price index.

Moving together with Cornerstone Mutual Fund

  0.63UINQX Usaa Nasdaq 100PairCorr
  0.62SRVEX Victory Diversified StockPairCorr
  0.91SBALX Victory StrategicPairCorr
  0.61SSVSX Victory Special ValuePairCorr
  0.67SBFCX Victory Incore InvestmentPairCorr
  0.67SBFMX Victory PortfoliosPairCorr
  0.63MMECX Victory IntegrityPairCorr
  0.64MMEAX Victory IntegrityPairCorr
  0.68RPPRX Victory Rs PartnersPairCorr
  0.85MMIJX Victory Integrity MidPairCorr
  0.64MMMMX Victory IntegrityPairCorr
  0.64MMMSX Victory IntegrityPairCorr
  0.63MNNAX Victory Munder MultiPairCorr
  0.76RSGGX Victory Rs GlobalPairCorr
  0.87RSINX Victory Rs InvestorsPairCorr
  0.87RSIYX Victory Rs InvestorsPairCorr
  0.67RSPFX Victory Rs PartnersPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Cornerstone Mutual Fund performing well and Cornerstone Equity 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 Cornerstone Equity'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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