Advent Claymore Correlations

AVK Fund

USD 12.27 0.05 0.41%

The current 90-days correlation between Advent Claymore Conv and Nuveen Real Asset is 0.57 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Advent Claymore moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advent Claymore Convertible moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Advent Claymore Correlation With Market

Very weak diversification

The correlation between Advent Claymore Convertible and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible 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 Advent Claymore Convertible. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Advent Fund

0.65	RYMEX	Commodities Strategy	Pair Corr
0.65	RYMJX	Commodities Strategy	Pair Corr
0.65	RYMBX	Commodities Strategy	Pair Corr
0.86	BRUFX	Bruce Fund Bruce	Pair Corr
0.99	SPGSX	State Street Premier	Pair Corr
0.92	KF	Korea Closed	Pair Corr
0.98	MXEOX	Great West Emerging	Pair Corr
0.98	ANVHX	American Century Non	Pair Corr
0.74	WACSX	Western Asset E	Pair Corr
0.98	AACRX	Strategic Allocation	Pair Corr
0.93	GPPSX	Goldman Sachs Short	Pair Corr
0.99	CBLAX	Columbia Balanced	Pair Corr
0.95	BUBSX	Baird Ultra Short	Pair Corr
0.84	IORLX	Aim Taxexempt Funds	Pair Corr
0.98	CHY	Calamos Convertible And	Pair Corr
0.97	VEVFX	Vanguard Explorer Value	Pair Corr
0.98	BLARX	Lord Abbett Balanced	Pair Corr
0.68	FBIOX	Biotechnology Portfolio	Pair Corr
0.99	FAHYX	Fidelity Advisor High	Pair Corr
0.84	LSIIX	Loomis Sayles Investment	Pair Corr
0.97	OPTIX	Oppenheimer Capital	Pair Corr
0.95	KAMCX	Kensington Managed Income	Pair Corr
0.98	NBPIX	Neuberger Berman Large	Pair Corr
0.98	DHLTX	Diamond Hill All	Pair Corr
0.98	RYCVX	Dow 2x Strategy	Pair Corr
0.67	GRECX	Goldman Sachs Real	Pair Corr
0.92	DCARX	Dfa California Municipal	Pair Corr
0.99	QGRPX	Ubs Quality Growth	Pair Corr
0.98	TEMUX	Emerging Markets Equity	Pair Corr
0.98	TRROX	T Rowe Price	Pair Corr
0.96	FTZFX	Fuller Thaler Behavioral	Pair Corr
0.97	NPSFX	Nuveen Preferred Sec	Pair Corr
0.99	BEQAX	Equity Growth	Pair Corr
0.97	PGBEX	Blue Chip Fund	Pair Corr
0.94	WEGRX	Allspring Emerging Growth	Pair Corr
0.98	NWOBX	Nationwide Destination	Pair Corr
0.98	ETIMX	Eventide Multi Asset	Pair Corr
0.98	FLCNX	Fidelity Contrafund	Pair Corr

Related Correlations Analysis

	JRI	GUG	KTF	GBAB	BLW	CHY	CHI	EHI	NCZ
JRI		0.9	-0.32	0.43	0.92	0.93	0.89	0.79	0.92	JRI
GUG	0.9		-0.17	0.28	0.95	0.91	0.93	0.74	0.91	GUG
KTF	-0.32	-0.17		0.04	-0.25	-0.42	-0.18	-0.19	-0.4	KTF
GBAB	0.43	0.28	0.04		0.22	0.29	0.33	0.62	0.26	GBAB
BLW	0.92	0.95	-0.25	0.22		0.95	0.95	0.71	0.97	BLW
CHY	0.93	0.91	-0.42	0.29	0.95		0.95	0.76	0.99	CHY
CHI	0.89	0.93	-0.18	0.33	0.95	0.95		0.76	0.95	CHI
EHI	0.79	0.74	-0.19	0.62	0.71	0.76	0.76		0.75	EHI
NCZ	0.92	0.91	-0.4	0.26	0.97	0.99	0.95	0.75		NCZ
	JRI	GUG	KTF	GBAB	BLW	CHY	CHI	EHI	NCZ

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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

NCZ	+ 0.99	CHY
NCZ	+ 0.97	BLW
BLW	+ 0.95	GUG
CHY	+ 0.95	BLW
CHI	+ 0.95	BLW
CHI	+ 0.95	CHY

High negative correlations

CHY	- 0.42	KTF
NCZ	- 0.4	KTF
KTF	- 0.32	JRI
BLW	- 0.25	KTF
EHI	- 0.19	KTF
CHI	- 0.18	KTF

Risk-Adjusted Indicators

There is a big difference between Advent Fund performing well and Advent Claymore 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 Advent Claymore'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
JRI	0.57	0.08	(0.02)	0.36	0.47	(0.68)	1.28	(0.98)	3.43
GUG	0.54	0.07	(0.05)	0.35	0.32	(0.67)	1.31	(0.91)	3.47
KTF	0.33	(0.06)	0.00	(0.28)	0.00	0.00	0.67	(0.90)	2.58
GBAB	0.53	0.00	(0.18)	0.15	0.65	(0.55)	0.88	(1.16)	4.69
BLW	0.33	0.08	(0.16)	0.57	0.00	(0.43)	0.81	(0.43)	2.29
CHY	0.53	0.15	0.07	0.52	0.38	(0.63)	1.38	(0.86)	3.35
CHI	0.54	0.10	0.03	0.35	0.45	(0.62)	1.71	(0.80)	4.17
EHI	0.40	0.02	(0.18)	0.25	0.51	(0.44)	0.92	(0.78)	3.28
NCZ	0.67	0.21	0.18	0.57	0.22	(0.84)	1.64	(1.02)	4.32

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