1290 Smartbeta Correlations

Mutual Funds . USA . 
Fund . 1290 Smartbeta Equity
TNBAX Fund  USD 20.55  0.02  0.1%   
The current 90-days correlation between 1290 Smartbeta Equity and First Eagle Gold is 0.04 (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

Very good diversification

The correlation between 1290 Smartbeta Equity and DJI is -0.26 (i.e., Very good 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

  0.78ESCKX 1290 FundsPairCorr
  0.78ESCJX 1290 Essex SmallPairCorr
  0.78ESCFX 1290 FundsPairCorr
  0.83TNBIX 1290 Smartbeta EquityPairCorr
  0.72TNHAX 1290 High YieldPairCorr
  0.71TNHIX 1290 High YieldPairCorr
  0.69TNHRX 1290 High YieldPairCorr
  0.69TNMAX 1290 Multi AlternativePairCorr
  0.69TNMIX 1290 Multi AlternativePairCorr
  0.68TNMRX 1290 Multi AlternativePairCorr
  0.72TNRAX 1290 FundsPairCorr
  0.76TNVDX 1290 Doubleline DynamicPairCorr
  0.74TNVAX 1290 Gamco SmallmidPairCorr
  0.76TNVIX 1290 Gamco SmallmidPairCorr
  0.76TNXAX 1290 Doubleline DynamicPairCorr
  0.76TNXIX 1290 Retirement 2060PairCorr
  0.76TNVRX 1290 Gamco SmallmidPairCorr
  0.76TNYRX 1290 Doubleline DynamicPairCorr
  0.93FCWGX American Funds CapitalPairCorr
  0.71FWCGX American Funds CapitalPairCorr
  0.93CWGIX Capital World GrowthPairCorr
  0.93CWGFX Capital World GrowthPairCorr
  0.93CWGCX Capital World GrowthPairCorr
  0.93CWICX Capital World GrowthPairCorr
  0.93RWIAX Capital World GrowthPairCorr
  0.93CWIAX Capital World GrowthPairCorr
  0.71WGIFX Capital World GrowthPairCorr
  0.87MGHRX Morgan Stanley InstiPairCorr

Related Correlations Analysis


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.

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