Aqr Equity Correlations

QMNRX Fund

USD 12.65 0.06 0.48%

The current 90-days correlation between Aqr Equity Market and Prudential Financial Services is -0.1 (i.e., Good diversification). The correlation of Aqr 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.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Aqr Equity Market. 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 real.

Moving together with Aqr Mutual Fund

0.94	QLENX	Aqr Long Short	Pair Corr
0.94	QLEIX	Aqr Long Short	Pair Corr
0.94	QLERX	Aqr Long Short	Pair Corr
0.72	QMHIX	Aqr Managed Futures	Pair Corr
0.72	QMHRX	Aqr Managed Futures	Pair Corr
0.71	QMHNX	Aqr Managed Futures	Pair Corr
1.0	QMNNX	Aqr Equity Market	Pair Corr
1.0	QMNIX	Aqr Equity Market	Pair Corr
0.81	AQMRX	Aqr Managed Futures	Pair Corr
0.81	AQMNX	Aqr Managed Futures	Pair Corr
0.81	AQMIX	Aqr Managed Futures	Pair Corr
0.83	QNZIX	Aqr Sustainable Long	Pair Corr
0.83	ARCNX	Aqr Risk Balanced	Pair Corr
0.84	ARCIX	Aqr Risk Balanced	Pair Corr
0.84	QNZRX	Aqr Sustainable Long	Pair Corr
0.84	QNZNX	Aqr Sustainable Long	Pair Corr
0.84	QRCRX	Aqr Risk Balanced	Pair Corr
0.83	ADANX	Aqr Diversified Arbitrage	Pair Corr
0.84	ADAIX	Aqr Diversified Arbitrage	Pair Corr
0.81	QRPRX	Aqr Alternative Risk	Pair Corr
0.77	QRPNX	Aqr Alternative Risk	Pair Corr
0.77	QRPIX	Aqr Alternative Risk	Pair Corr

Moving against Aqr Mutual Fund

0.65	AUENX	Aqr Large Cap	Pair Corr
0.63	AUEIX	Aqr Large Cap	Pair Corr

Related Correlations Analysis

	PSSRX	FIKBX	MCBXX	SBFAX	MSVIX	GCFSX	TFIFX
PSSRX		0.97	0.0	0.67	0.73	0.63	0.97	PSSRX
FIKBX	0.97		0.0	0.57	0.82	0.71	0.99	FIKBX
MCBXX	0.0	0.0		0.0	0.0	0.0	0.0	MCBXX
SBFAX	0.67	0.57	0.0		0.46	0.06	0.55	SBFAX
MSVIX	0.73	0.82	0.0	0.46		0.53	0.81	MSVIX
GCFSX	0.63	0.71	0.0	0.06	0.53		0.72	GCFSX
TFIFX	0.97	0.99	0.0	0.55	0.81	0.72		TFIFX
	PSSRX	FIKBX	MCBXX	SBFAX	MSVIX	GCFSX	TFIFX

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

TFIFX	+ 0.99	FIKBX
FIKBX	+ 0.97	PSSRX
TFIFX	+ 0.97	PSSRX
MSVIX	+ 0.82	FIKBX
TFIFX	+ 0.81	MSVIX
MSVIX	+ 0.73	PSSRX

High negative correlations

TFIFX	- 0.0	MCBXX
GCFSX	- 0.0	MCBXX
MSVIX	- 0.0	MCBXX
SBFAX	- 0.0	MCBXX
MCBXX	- 0.0	FIKBX
MCBXX	- 0.0	PSSRX

Risk-Adjusted Indicators

There is a big difference between Aqr Mutual Fund performing well and Aqr 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 Aqr 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PSSRX	0.72	(0.05)	(0.04)	0.02	1.01	(0.75)	1.70	(1.74)	4.86
FIKBX	0.69	(0.03)	(0.03)	0.04	1.01	(0.74)	1.55	(1.65)	5.55
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBFAX	0.86	(0.28)	0.00	(0.18)	0.00	0.00	1.56	(2.26)	4.82
MSVIX	0.87	(0.07)	(0.05)	0.01	1.05	(0.97)	1.72	(1.56)	4.74
GCFSX	0.57	0.09	0.05	0.78	0.56	(0.68)	1.39	(1.04)	3.52
TFIFX	0.71	(0.02)	(0.02)	0.05	1.02	(0.75)	1.54	(1.64)	5.03

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