The Arbitrage Correlations

ARBCX Fund

USD 12.39 0.02 0.16%

The current 90-days correlation between The Arbitrage and The Arbitrage Event Driven is 0.84 (i.e., Very poor diversification). The correlation of The Arbitrage 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.

The Arbitrage Correlation With Market

Very weak diversification

The correlation between The Arbitrage Fund and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage Fund 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 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 private.

Moving together with The Mutual Fund

1.0	ARBNX	The Arbitrage	Pair Corr
1.0	ARBFX	The Arbitrage	Pair Corr
0.91	ARCFX	Arbitrage Credit	Pair Corr
1.0	ARGAX	The Arbitrage	Pair Corr
0.92	ACFIX	Arbitrage Credit	Pair Corr
1.0	AEDNX	Arbitrage Event	Pair Corr
1.0	AEDFX	Arbitrage Event	Pair Corr
0.94	AGCAX	Arbitrage Credit	Pair Corr
1.0	AGEAX	Arbitrage Event	Pair Corr
0.96	BCLPX	Blckrk Lc Cr	Pair Corr
0.97	BALPX	Blckrk Lc Cr	Pair Corr
0.97	BILPX	Blkrk Lc Cr	Pair Corr
0.98	MERIX	Merger Fund	Pair Corr
0.98	MERFX	Merger Fund	Pair Corr
0.74	VARAX	Vivaldi Merger Arbitrage	Pair Corr
0.78	VARBX	Vivaldi Merger Arbitrage	Pair Corr
0.65	VARCX	First Trust Merger	Pair Corr
0.94	ASG	Liberty All Star	Pair Corr
0.96	CII	Blackrock Enhanced	Pair Corr
0.94	ETV	Eaton Vance Tax	Pair Corr
0.89	CLM	Cornerstone Strategic	Pair Corr
0.92	CRF	Cornerstone Strategic	Pair Corr
0.96	ETY	Eaton Vance Tax	Pair Corr
0.94	NFJ	Virtus Dividend Interest	Pair Corr
0.96	RPEBX	New Perspective	Pair Corr
0.92	MDBZX	Massmutual Premier	Pair Corr
0.92	FFODX	Oklahoma College Savings	Pair Corr
0.93	RYHGX	High Yield Strategy	Pair Corr
0.96	MXIHX	Great-west Inflation-protec	Pair Corr
0.71	FCWBX	Capital World Bond	Pair Corr
0.97	ARLIX	One Choice 2035	Pair Corr
0.97	JOMMX	Johcm Emerging Markets	Pair Corr
0.98	SPEGX	Alger Responsible	Pair Corr
0.96	PSLDX	Pimco Stocksplus Long	Pair Corr

Moving against The Mutual Fund

0.76

IFN

India Closed

Pair Corr

Related Correlations Analysis

	AEDNX	AEDFX	AGCAX	AGEAX	ARBNX	ARBFX	ARCFX	ARGAX
AEDNX		1.0	0.94	1.0	1.0	1.0	0.91	1.0	AEDNX
AEDFX	1.0		0.94	1.0	1.0	1.0	0.91	1.0	AEDFX
AGCAX	0.94	0.94		0.94	0.94	0.94	0.98	0.94	AGCAX
AGEAX	1.0	1.0	0.94		1.0	1.0	0.91	1.0	AGEAX
ARBNX	1.0	1.0	0.94	1.0		1.0	0.91	1.0	ARBNX
ARBFX	1.0	1.0	0.94	1.0	1.0		0.92	1.0	ARBFX
ARCFX	0.91	0.91	0.98	0.91	0.91	0.92		0.91	ARCFX
ARGAX	1.0	1.0	0.94	1.0	1.0	1.0	0.91		ARGAX
	AEDNX	AEDFX	AGCAX	AGEAX	ARBNX	ARBFX	ARCFX	ARGAX

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Arbitrage 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 The Arbitrage'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AEDNX	0.07	0.03	(0.57)	0.56	(0.12)	0.16	(0.08)	0.48
AEDFX	0.08	0.03	(0.59)	0.47	(0.13)	0.24	(0.08)	0.49
AGCAX	0.05	0.00	(0.87)	0.05	(0.13)	0.10	(0.10)	0.41
AGEAX	0.09	0.03	(0.57)	0.48	(0.14)	0.24	(0.08)	0.49
ARBNX	0.09	0.02	(0.60)	0.38	(0.13)	0.22	(0.14)	0.64
ARBFX	0.09	0.02	(0.63)	0.35	(0.14)	0.30	(0.15)	0.52
ARCFX	0.05	0.00	(0.66)	0.05	(0.16)	0.20	(0.10)	0.51
ARGAX	0.09	0.02	(0.58)	0.37	(0.14)	0.30	(0.08)	0.67

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