Advent Claymore Correlations

AVK Fund

USD 12.27 0.02 0.16%

The current 90-days correlation between Advent Claymore Conv and Nuveen Real Asset is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Advent Claymore moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advent Claymore Convertible moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Advent Claymore Correlation With Market

Very weak diversification

The correlation between Advent Claymore Convertible and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible 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 Advent Claymore Convertible. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Advent Fund

0.94	CPAYX	Columbia Pacific/asia	Pair Corr
0.97	CASAX	Columbia Pacificasia	Pair Corr
0.87	CCCZX	Center St Brookfield	Pair Corr
0.97	CASCX	Columbia Pacificasia	Pair Corr
0.95	MGHRX	Morgan Stanley Insti	Pair Corr
0.95	MSEQX	Growth Portfolio Class	Pair Corr
0.95	MSHLX	Growth Portfolio Class	Pair Corr
0.99	FUNFX	American Funds Funda	Pair Corr
0.98	VSCPX	Vanguard Small Cap	Pair Corr
0.98	JGSRX	John Hancock Global	Pair Corr
0.98	VSZFX	Voya Index Solution	Pair Corr
0.98	FNFPX	American Funds New	Pair Corr
0.98	FDMLX	Fidelity Series Intrinsic	Pair Corr
0.98	ITTRX	Hartford Balanced	Pair Corr
0.98	EILVX	Eaton Vance Large	Pair Corr
0.98	AMFFX	American Mutual	Pair Corr
0.98	SKTAX	Saat E Market	Pair Corr
0.94	FHJMX	Fidelity Europe	Pair Corr
0.99	BDBKX	Blackrock Small Cap	Pair Corr
0.94	CWSIX	Chartwell Small Cap	Pair Corr
0.97	BOSVX	Omni Small Cap	Pair Corr
0.97	HDGRX	Hartford Dividend	Pair Corr
0.97	PHYEX	Pgim High Yield	Pair Corr
0.96	OAYIX	Oakmark International	Pair Corr
0.92	CCGIX	Chautauqua Global Growth	Pair Corr
0.76	VMAVX	Vmavx	Pair Corr
0.9	CFICX	Calvert Income	Pair Corr
0.98	CWGIX	Capital World Growth	Pair Corr
0.97	PHYAX	High Yield Fund	Pair Corr
0.98	GDV	Gabelli Dividend Income	Pair Corr
0.98	FEFAX	First Eagle Fund	Pair Corr
0.97	JHUKX	Jpmorgan Emerging Markets	Pair Corr
0.98	SSHVX	Sound Shore Fund	Pair Corr
0.93	FIQEX	Fidelity Canada	Pair Corr
0.98	TRLNX	T Rowe Price	Pair Corr
0.98	FFPNX	American Funds New	Pair Corr
0.62	VMFXX	Vanguard Federal Money	Pair Corr
0.98	BMCIX	Blackrock High Equity	Pair Corr
0.98	FELTX	Fidelity Advisor Sem	Pair Corr

Related Correlations Analysis

	JRI	GUG	KTF	GBAB	BLW	CHY	CHI	EHI	NCZ
JRI		0.88	-0.47	0.42	0.88	0.91	0.85	0.93	0.89	JRI
GUG	0.88		-0.34	0.26	0.9	0.89	0.89	0.87	0.89	GUG
KTF	-0.47	-0.34		-0.03	-0.39	-0.56	-0.35	-0.63	-0.55	KTF
GBAB	0.42	0.26	-0.03		0.2	0.29	0.36	0.37	0.26	GBAB
BLW	0.88	0.9	-0.39	0.2		0.94	0.93	0.88	0.95	BLW
CHY	0.91	0.89	-0.56	0.29	0.94		0.95	0.94	0.99	CHY
CHI	0.85	0.89	-0.35	0.36	0.93	0.95		0.87	0.95	CHI
EHI	0.93	0.87	-0.63	0.37	0.88	0.94	0.87		0.93	EHI
NCZ	0.89	0.89	-0.55	0.26	0.95	0.99	0.95	0.93		NCZ
	JRI	GUG	KTF	GBAB	BLW	CHY	CHI	EHI	NCZ

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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

NCZ	+ 0.99	CHY
NCZ	+ 0.95	BLW
CHI	+ 0.95	CHY
NCZ	+ 0.95	CHI
CHY	+ 0.94	BLW
EHI	+ 0.94	CHY

High negative correlations

EHI	- 0.63	KTF
CHY	- 0.56	KTF
NCZ	- 0.55	KTF
KTF	- 0.47	JRI
BLW	- 0.39	KTF
CHI	- 0.35	KTF

Risk-Adjusted Indicators

There is a big difference between Advent Fund performing well and Advent Claymore 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 Advent Claymore'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
JRI	0.52	0.05	(0.12)	0.35	0.32	(0.63)	1.17	(0.88)	2.97
GUG	0.52	0.05	(0.14)	0.32	0.30	(0.64)	1.31	(0.91)	3.47
KTF	0.33	(0.05)	0.00	(0.74)	0.00	0.00	0.67	(0.90)	2.58
GBAB	0.53	(0.02)	(0.24)	0.13	0.65	(0.55)	0.88	(1.16)	4.69
BLW	0.32	0.10	(0.27)	1.23	0.00	(0.42)	0.81	(0.37)	2.29
CHY	0.46	0.13	0.01	0.57	0.00	(0.57)	1.29	(0.77)	3.09
CHI	0.47	0.04	(0.06)	0.27	0.40	(0.55)	1.22	(0.79)	4.17
EHI	0.34	0.07	(0.21)	0.63	0.15	(0.43)	0.93	(0.64)	2.08
NCZ	0.65	0.15	0.12	0.44	0.19	(0.81)	1.64	(1.02)	4.32

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