New York Correlations

ANIYX Fund

USD 13.43 0.01 0.07%

The current 90-days correlation between New York Municipal and Harbor Diversified International is -0.04 (i.e., Good diversification). The correlation of New York 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.

New York Correlation With Market

Good diversification

The correlation between New York Municipal and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New York Municipal 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 New York Municipal. 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 manufacturing.

Moving together with New Mutual Fund

0.91	AMNCX	Ab Minnesota Portfolio	Pair Corr
0.95	AMNAX	Ab Minnesota Portfolio	Pair Corr
0.77	ANAZX	Ab Global Bond	Pair Corr
0.77	ANAYX	Ab Global Bond	Pair Corr
0.79	ANAGX	Ab Global Bond	Pair Corr
0.77	ANAIX	Ab Global Bond	Pair Corr
0.82	ANACX	Ab Global Bond	Pair Corr
0.99	ANIAX	New York Municipal	Pair Corr
0.95	ANJAX	Ab New Jersey	Pair Corr
0.95	ANJCX	Ab New Jersey	Pair Corr
0.98	ANMCX	New York Municipal	Pair Corr
0.94	ANYCX	Ab New York	Pair Corr
0.75	STHAX	Ab Sustainable Thematic	Pair Corr
0.73	STHYX	Ab Sustainable Thematic	Pair Corr
0.94	AOHCX	Ab Ohio Portfolio	Pair Corr
0.94	APAAX	Ab Pennsylvania Portfolio	Pair Corr

Related Correlations Analysis

	HIIDX	ACBPX	VYRPX	TFCAX	GPICX	FHCOX	WCCFX
HIIDX		0.8	0.66	0.76	0.9	0.74	0.8	HIIDX
ACBPX	0.8		0.49	0.92	0.87	0.92	0.89	ACBPX
VYRPX	0.66	0.49		0.39	0.57	0.32	0.75	VYRPX
TFCAX	0.76	0.92	0.39		0.88	0.98	0.73	TFCAX
GPICX	0.9	0.87	0.57	0.88		0.88	0.78	GPICX
FHCOX	0.74	0.92	0.32	0.98	0.88		0.7	FHCOX
WCCFX	0.8	0.89	0.75	0.73	0.78	0.7		WCCFX
	HIIDX	ACBPX	VYRPX	TFCAX	GPICX	FHCOX	WCCFX

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Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New York 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 New York'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
HIIDX	0.65	0.11	0.19	0.09	0.97	(0.62)	1.27	(1.40)	5.23
ACBPX	0.25	0.04	0.74	5.03	0.08	(0.31)	0.56	(0.44)	1.23
VYRPX	0.20	0.02	0.49	(0.02)	0.25	(0.25)	0.48	(0.39)	1.65
TFCAX	0.03	0.00	0.00	0.83	0.00	0.00	0.20	0.00	0.40
GPICX	0.04	0.00	0.00	(0.08)	0.00	0.00	0.10	(0.10)	0.21
FHCOX	0.06	0.02	0.00	1.28	0.00	0.00	0.40	(0.10)	0.51
WCCFX	0.24	0.02	0.47	0.02	0.27	(0.28)	0.46	(0.46)	1.50

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New York Correlations

New York Correlation With Market

Good diversification

Moving together with New Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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