Arbitrage Event Correlations

Mutual Funds . USA . 
Fund . The Arbitrage Event Driven
AEDFX Fund  USD 12.36  0.02  0.16%   
The current 90-days correlation between Arbitrage Event and The Arbitrage Fund is 0.93 (i.e., Almost no diversification). The correlation of Arbitrage Event 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.

Arbitrage Event Correlation With Market

Very weak diversification

The correlation between The Arbitrage Event Driven and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage Event Driven 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 The Arbitrage Event Driven. 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 census.

Moving together with Arbitrage Mutual Fund

  0.99ARBNX Arbitrage FundPairCorr
  0.99AGEAX Arbitrage EventPairCorr
  0.95BCLPX Blckrk Lc CrPairCorr
  0.97BALPX Blckrk Lc CrPairCorr
  0.97BILPX Blkrk Lc CrPairCorr
  0.97MERIX Merger FundPairCorr
  0.97MERFX Merger FundPairCorr
  0.86VARAX Vivaldi Merger ArbitragePairCorr
  0.87VARBX Vivaldi Merger ArbitragePairCorr
  0.85VARCX First Trust MergerPairCorr
  1.0ARBCX Arbitrage FundPairCorr
  0.95FSMMX Fs Multi StrategyPairCorr
  0.86BTMPX Ishares Msci EafePairCorr
  0.86BTMKX Blackrock InternationalPairCorr
  0.87MDIIX Blackrock Intern IndexPairCorr
  0.83WCMRX Wcm Focused InternationalPairCorr
  0.94BERBX Carillon Chartwell MidPairCorr
  0.95LUBYX Lord Abbett UltraPairCorr
  0.88MPNIX Bny Mellon NationalPairCorr
  0.88ADVKX Vaughan Nelson EmergingPairCorr
  0.93VSTCX Vanguard StrategicPairCorr
  0.95VFINX Vanguard 500 IndexPairCorr
  0.79MSEFX Litman Gregory MastersPairCorr
  0.91HDGYX Hartford DividendPairCorr
  0.95VTHRX Vanguard Target RetiPairCorr
  0.9ODICX Oppenheimer DiscoveryPairCorr
  0.85GLOIX Gamco Global OpportunityPairCorr
  0.93ACRIX Horizon Active RiskPairCorr
  0.83EISMX Eaton Vance AtlantaPairCorr
  0.9RRMVX T Rowe PricePairCorr
  0.94CGJIX Calvert Large CapPairCorr
  0.95BDBPX Ishares Russell 2000PairCorr
  0.94FSTRX Federated Mdt LargePairCorr
  0.92GSSUX Goldman Sachs SmallPairCorr
  0.96JDHYX Janus High YieldPairCorr
  0.88BMNSX Baird E IntermediatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Arbitrage Mutual Fund performing well and Arbitrage Event 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 Arbitrage Event'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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