Riverpark/next Century Correlations

RPNIX Fund

10.42 0.05 0.48%

The current 90-days correlation between Riverpark/next Century and Angel Oak Ultrashort is -0.22 (i.e., Very good diversification). The correlation of Riverpark/next Century 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.

Riverpark/next Century Correlation With Market

Good diversification

The correlation between Riverparknext Century Gr and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Riverparknext Century Gr and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Riverparknext Century Gr. 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 gross domestic product.

Moving together with Riverpark/next Mutual Fund

0.82	RPHIX	Riverpark Short Term	Pair Corr
0.83	RPHYX	Riverpark Short Term	Pair Corr
0.98	RPNRX	Riverpark/next Century	Pair Corr
1.0	RPNCX	Riverpark/next Century	Pair Corr
0.98	RPNLX	Riverpark/next Century	Pair Corr
0.98	RPXIX	Riverpark Large Growth	Pair Corr
0.98	RPXFX	Riverpark Large Growth	Pair Corr
0.89	RSIIX	Riverpark Strategic	Pair Corr
0.89	RSIVX	Riverpark Strategic	Pair Corr
0.86	RCRFX	Riverpark Floating Rate	Pair Corr
0.86	RCRIX	Riverpark Floating Rate	Pair Corr
0.96	RWGFX	Riverparkwedgewood	Pair Corr
0.96	RWGIX	Riverparkwedgewood	Pair Corr
0.98	RLSIX	Riverpark Long/short	Pair Corr
0.98	RLSFX	Riverpark Long/short	Pair Corr
0.97	VSGAX	Vanguard Small Cap	Pair Corr
0.97	VSGIX	Vanguard Small Cap	Pair Corr
0.97	VISGX	Vanguard Small Cap	Pair Corr
0.95	VEXPX	Vanguard Explorer	Pair Corr
0.95	VEXRX	Vanguard Explorer	Pair Corr
0.94	JGMIX	Janus Triton	Pair Corr
0.94	JGMRX	Janus Triton	Pair Corr
0.94	JGMAX	Janus Triton	Pair Corr
0.94	JGMCX	Janus Triton	Pair Corr
0.94	JGMNX	Janus Triton	Pair Corr
0.61	PDI	Pimco Dynamic Income	Pair Corr
0.87	FTCAX	Templeton Strained Bond	Pair Corr
0.98	HRCCX	Eagle Capital Apprec	Pair Corr
0.97	TAGDX	Transamerica Large Growth	Pair Corr
0.94	CEMKX	Cemkx	Pair Corr
0.97	CHCCX	Ab Discovery Growth	Pair Corr
0.86	PLSTX	Pacific Funds Strategic	Pair Corr

Moving against Riverpark/next Mutual Fund

0.96	USPSX	Profunds Ultrashort Steady Growth	Pair Corr
0.96	USPIX	Profunds Ultrashort Steady Growth	Pair Corr
0.96	UIPIX	Ultrashort Mid Cap	Pair Corr
0.69	TCSUX	Cleartrack 2020 Class	Pair Corr
0.61	TCTGX	Transamerica Cleartrack	Pair Corr
0.61	TCTJX	Transamerica Cleartrack	Pair Corr
0.6	TDKTX	Cleartrack 2015 Class	Pair Corr

Related Correlations Analysis

	AOUNX	BXDCX	HYSZX	SBHPX	CMGUX	RSDIX	FUEMX	TBSIX
AOUNX		0.62	0.81	0.64	0.99	0.97	0.96	0.88	AOUNX
BXDCX	0.62		0.82	0.94	0.62	0.62	0.71	0.54	BXDCX
HYSZX	0.81	0.82		0.81	0.81	0.76	0.88	0.64	HYSZX
SBHPX	0.64	0.94	0.81		0.64	0.6	0.68	0.51	SBHPX
CMGUX	0.99	0.62	0.81	0.64		0.96	0.95	0.86	CMGUX
RSDIX	0.97	0.62	0.76	0.6	0.96		0.92	0.94	RSDIX
FUEMX	0.96	0.71	0.88	0.68	0.95	0.92		0.81	FUEMX
TBSIX	0.88	0.54	0.64	0.51	0.86	0.94	0.81		TBSIX
	AOUNX	BXDCX	HYSZX	SBHPX	CMGUX	RSDIX	FUEMX	TBSIX

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Risk-Adjusted Indicators

There is a big difference between Riverpark/next Mutual Fund performing well and Riverpark/next Century 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 Riverpark/next Century'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
AOUNX	0.06	0.00	(0.15)	0.00	0.00	(0.17)	0.10	(0.10)	0.62
BXDCX	0.10	0.01	(0.08)	(0.71)	0.00	(0.16)	0.22	(0.22)	0.76
HYSZX	0.16	0.02	(0.01)	1.12	0.17	(0.24)	0.37	(0.37)	1.34
SBHPX	0.07	0.01	(0.10)	(1.27)	0.00	(0.11)	0.10	(0.10)	0.40
CMGUX	0.05	0.00	(0.16)	0.00	0.00	(0.22)	0.11	(0.11)	0.55
RSDIX	0.10	0.01	(0.10)	(3.63)	0.00	(0.17)	0.21	(0.21)	0.72
FUEMX	0.05	0.00	(0.15)	0.00	0.00	(0.18)	0.20	(0.10)	0.50
TBSIX	0.11	0.01	(0.08)	(6.04)	0.00	(0.28)	0.22	(0.22)	1.09

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