Arbitrage Event Correlations

Mutual Funds . USA . 
Fund . The Arbitrage Event Driven
AEDNX Fund  USD 12.46  0.01  0.08%   
The current 90-days correlation between Arbitrage Event and Goldman Sachs Clean is 0.01 (i.e., Significant diversification). The correlation of Arbitrage Event 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.

Arbitrage Event Correlation With Market

Poor diversification

The correlation between The Arbitrage Event Driven and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage Event Driven and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The Arbitrage Event Driven. 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 board of governors.

Moving together with Arbitrage Mutual Fund

  1.0ARBNX Arbitrage FundPairCorr
  0.97ARBFX Arbitrage FundPairCorr
  1.0ARBCX Arbitrage FundPairCorr
  0.96ARCFX Arbitrage CreditPairCorr
  1.0ARGAX Arbitrage FundPairCorr
  0.95ACFIX Arbitrage CreditPairCorr
  1.0AEDFX Arbitrage EventPairCorr
  0.96AGCAX Arbitrage CreditPairCorr
  0.98AGEAX Arbitrage EventPairCorr
  0.95BCLPX Blckrk Lc CrPairCorr
  0.95BALPX Blckrk Lc CrPairCorr
  0.97BILPX Blkrk Lc CrPairCorr
  0.97MERIX Merger FundPairCorr
  0.97MERFX Merger FundPairCorr
  0.93VARAX Vivaldi Merger ArbitragePairCorr
  0.94VARBX Vivaldi Merger ArbitragePairCorr
  0.93VARCX First Trust MergerPairCorr
  0.96CPAYX Columbia Pacific/asiaPairCorr
  0.98CASAX Columbia Pacific/asiaPairCorr
  0.98CASCX Columbia Pacific/asiaPairCorr
  0.73MIDSX Midas Fund MidasPairCorr
  0.96MMCGX Mid Cap GrowthPairCorr
  0.96MSKLX Mid Cap GrowthPairCorr
  0.96TCVIX Touchstone Mid CapPairCorr
  0.64TORTX Tortoise Mlp PipelinePairCorr
  0.95GSSSX Goldman Sachs SmallPairCorr
  0.97CGQGX American Funds GrowthPairCorr
  0.72TORCX Tortoise Mlp PipelinePairCorr
  0.68GIBIX Guggenheim Total ReturnPairCorr
  0.85HMJCX Hartford Municipal ShortPairCorr
  0.74WATFX Western Asset EPairCorr
  0.92FHKAX Fidelity China RegionPairCorr
  0.96WSCRX Wells Fargo AdvantagePairCorr
  0.93OHSHX Oakhurst Short DurationPairCorr
  0.94FCLIX Fidelity Advisor IndPairCorr
  0.97EVGRX Evaluator Growth RmsPairCorr
  0.97OIEPX Jpmorgan Equity IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Arbitrage Mutual Fund performing well and Arbitrage Event 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 Arbitrage Event'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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