Arbitrage Fund Correlations

ARGAX Fund

USD 13.10 0.02 0.15%

The current 90-days correlation between Arbitrage Fund and General Money Market is -0.12 (i.e., Good diversification). The correlation of Arbitrage Fund 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 Fund Correlation With Market

Poor diversification

The correlation between The Arbitrage Fund and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage Fund 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 Fund. 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 Arbitrage Mutual Fund

1.0	ARBNX	Arbitrage Fund	Pair Corr
1.0	ARBFX	Arbitrage Fund	Pair Corr
1.0	ARBCX	Arbitrage Fund	Pair Corr
0.95	AEDNX	Arbitrage Event	Pair Corr
0.93	AEDFX	Arbitrage Event	Pair Corr
0.93	AGEAX	Arbitrage Event	Pair Corr
0.86	MERIX	Merger Fund	Pair Corr
0.84	MERFX	Merger Fund	Pair Corr
0.74	VARAX	Vivaldi Merger Arbitrage	Pair Corr
0.74	VARBX	Vivaldi Merger Arbitrage	Pair Corr
0.74	VARCX	First Trust Merger	Pair Corr
0.66	AVGAX	Dynamic Total Return	Pair Corr
0.75	TRHDX	T Rowe Price	Pair Corr
0.78	HIMVX	Harbor Mid Cap	Pair Corr
0.64	LTSEX	Principal Lifetime 2035	Pair Corr
0.86	VFINX	Vanguard 500 Index	Pair Corr
0.9	IMORX	Voya Midcap Opportunities	Pair Corr
0.87	JGSVX	Jpmorgan Small Cap	Pair Corr
0.63	AVGCX	Dynamic Total Return	Pair Corr
0.85	CPCCX	Comstock Capital Value	Pair Corr

Moving against Arbitrage Mutual Fund

0.37	LIIAX	Columbia Porate Income	Pair Corr
0.34	SRINX	Columbia Porate Income	Pair Corr
0.34	CIFRX	Columbia Porate Income	Pair Corr

Related Correlations Analysis

	GMBXX	GABXX	PRXXX	STPXX	AEYXX	POIXX
GMBXX		0.94	0.5	0.52	0.0	1.0	GMBXX
GABXX	0.94		0.53	0.55	0.0	0.94	GABXX
PRXXX	0.5	0.53		0.96	0.0	0.5	PRXXX
STPXX	0.52	0.55	0.96		0.0	0.52	STPXX
AEYXX	0.0	0.0	0.0	0.0		0.0	AEYXX
POIXX	1.0	0.94	0.5	0.52	0.0		POIXX
	GMBXX	GABXX	PRXXX	STPXX	AEYXX	POIXX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

POIXX	+ 1.0	GMBXX
STPXX	+ 0.96	PRXXX
GABXX	+ 0.94	GMBXX
POIXX	+ 0.94	GABXX
STPXX	+ 0.55	GABXX
PRXXX	+ 0.53	GABXX

High negative correlations

POIXX	- 0.0	AEYXX
AEYXX	- 0.0	STPXX
AEYXX	- 0.0	PRXXX
AEYXX	- 0.0	GABXX
AEYXX	- 0.0	GMBXX

Risk-Adjusted Indicators

There is a big difference between Arbitrage Mutual Fund performing well and Arbitrage Fund 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 Fund'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	Treynor Ratio	Maximum Drawdown
GMBXX	0.03	0.01	(1.56)	1.01
GABXX	0.03	0.00	0.43	1.01
PRXXX	0.03	0.00	0.46	1.01
STPXX	0.03	0.00	0.51	1.01
AEYXX	0.00	0.00	0.00	0.00
POIXX	0.03	0.01	(1.56)	1.01

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