Cornerstone Strategic Correlations

CLM Fund

USD 8.12 0.01 0.12%

The current 90-days correlation between Cornerstone Strategic and ARMOUR Residential REIT is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cornerstone Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cornerstone Strategic Value moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cornerstone Strategic Correlation With Market

Very weak diversification

The correlation between Cornerstone Strategic Value 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 Cornerstone Strategic Value 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 Cornerstone Strategic Value. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Cornerstone Fund

0.9	SRINX	Columbia Porate Income	Pair Corr
0.91	CDEYX	Columbia Diversified	Pair Corr
0.91	CVERX	Columbia Mid Cap	Pair Corr
0.89	CEBYX	Columbia Emerging Markets	Pair Corr
0.93	RPCCX	Columbia Capital All	Pair Corr
0.94	CFCYX	Columbia Flexible Capital	Pair Corr
0.9	CFRZX	Columbia Floating Rate	Pair Corr
0.71	CGCYX	Columbia Greater China	Pair Corr

Related Correlations Analysis

	ARR	CRF	ECC	GOF	ORC	OXLC	RA
ARR		0.0	0.23	-0.06	0.05	0.25	-0.18	ARR
CRF	0.0		-0.44	0.96	0.91	-0.73	0.42	CRF
ECC	0.23	-0.44		-0.54	-0.51	0.87	-0.3	ECC
GOF	-0.06	0.96	-0.54		0.91	-0.79	0.51	GOF
ORC	0.05	0.91	-0.51	0.91		-0.76	0.51	ORC
OXLC	0.25	-0.73	0.87	-0.79	-0.76		-0.44	OXLC
RA	-0.18	0.42	-0.3	0.51	0.51	-0.44		RA
	ARR	CRF	ECC	GOF	ORC	OXLC	RA

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

GOF	+ 0.96	CRF
ORC	+ 0.91	CRF
ORC	+ 0.91	GOF
OXLC	+ 0.87	ECC
RA	+ 0.51	GOF
RA	+ 0.51	ORC

High negative correlations

OXLC	- 0.79	GOF
OXLC	- 0.76	ORC
OXLC	- 0.73	CRF
GOF	- 0.54	ECC
ORC	- 0.51	ECC
RA	- 0.44	OXLC

Risk-Adjusted Indicators

There is a big difference between Cornerstone Fund performing well and Cornerstone Strategic 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 Strategic'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
ARR	0.97	(0.01)	0.00	(1.19)	0.00	0.00	2.29	(1.58)	7.99
CRF	0.58	0.13	0.14	0.30	0.17	(0.76)	1.60	(0.83)	4.39
ECC	1.42	(0.09)	(0.04)	0.04	2.08	(1.43)	2.63	(2.87)	12.09
GOF	0.30	0.06	(0.08)	0.35	0.22	(0.33)	0.71	(0.71)	1.85
ORC	0.90	0.01	(0.03)	0.14	0.79	(1.14)	1.98	(1.35)	3.97
OXLC	1.33	(0.25)	0.00	(0.35)	0.00	0.00	2.92	(2.59)	11.94
RA	0.34	0.07	(0.09)	0.43	0.00	(0.43)	0.84	(0.45)	3.09

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