1290 Smartbeta Correlations

TNBAX Fund

USD 20.12 0.03 0.15%

The current 90-days correlation between 1290 Smartbeta Equity and Alpine Ultra Short is 0.01 (i.e., Significant diversification). The correlation of 1290 Smartbeta 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.

1290 Smartbeta Correlation With Market

Average diversification

The correlation between 1290 Smartbeta Equity and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Smartbeta Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in 1290 Smartbeta Equity. 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 nation.

Moving together with 1290 Mutual Fund

0.68	ESCFX	1290 Funds	Pair Corr
0.75	TNHAX	1290 High Yield	Pair Corr
0.64	TNHIX	1290 High Yield	Pair Corr
0.63	TNHRX	1290 High Yield	Pair Corr
0.64	TNMAX	1290 Multi Alternative	Pair Corr
0.74	TNRAX	1290 Funds	Pair Corr
0.62	TNXIX	1290 Retirement 2060	Pair Corr
0.82	CWGIX	Capital World Growth	Pair Corr
0.74	CWGFX	Capital World Growth	Pair Corr
0.74	CWGCX	Capital World Growth	Pair Corr
0.73	FCWGX	American Funds Capital	Pair Corr
0.73	FWCGX	American Funds Capital	Pair Corr
0.73	RWIFX	Capital World Growth	Pair Corr
0.74	CWICX	Capital World Growth	Pair Corr
0.74	RWIAX	Capital World Growth	Pair Corr
0.82	CWIAX	Capital World Growth	Pair Corr
0.73	WGIFX	Capital World Growth	Pair Corr
0.67	WRHIX	Ivy High Income	Pair Corr
0.76	WHIAX	Ivy High Income	Pair Corr
0.66	IHIFX	Ivy High Income	Pair Corr
0.73	IVHIX	Ivy High Income	Pair Corr

Related Correlations Analysis

	ATOAX	JIBDX	USDIX	BSBIX	QNZIX	TSDCX	LCCMX
ATOAX		0.77	0.9	0.84	0.8	0.92	0.55	ATOAX
JIBDX	0.77		0.87	0.97	0.66	0.85	0.63	JIBDX
USDIX	0.9	0.87		0.91	0.82	0.93	0.71	USDIX
BSBIX	0.84	0.97	0.91		0.77	0.91	0.6	BSBIX
QNZIX	0.8	0.66	0.82	0.77		0.83	0.52	QNZIX
TSDCX	0.92	0.85	0.93	0.91	0.83		0.58	TSDCX
LCCMX	0.55	0.63	0.71	0.6	0.52	0.58		LCCMX
	ATOAX	JIBDX	USDIX	BSBIX	QNZIX	TSDCX	LCCMX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Smartbeta 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 1290 Smartbeta'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
ATOAX	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.30
JIBDX	0.05	0.00	(0.66)	0.48	0.00	(0.08)	0.13	(0.07)	0.40
USDIX	0.04	0.00	0.00	0.44	0.00	0.00	0.10	(0.10)	0.51
BSBIX	0.04	0.00	0.00	0.34	0.00	0.00	0.11	(0.10)	0.32
QNZIX	0.61	0.05	0.03	0.14	0.76	(0.64)	1.23	(1.11)	4.01
TSDCX	0.03	0.00	0.00	(0.02)	0.00	0.00	0.11	(0.11)	0.43
LCCMX	0.15	0.03	(0.18)	3.54	0.00	(0.49)	0.74	(0.25)	2.46

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1290 Smartbeta Correlations

1290 Smartbeta Correlation With Market

Average diversification

Moving together with 1290 Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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