Pinnacle Sherman Correlations

Mutual Funds . USA . 
Fund . Pinnacle Sherman Multi Strategy
CPSHX Fund  USD 11.90  0.09  0.76%   
The current 90-days correlation between Pinnacle Sherman Multi and Pinnacle Sherman Multi Strategy is 1.0 (i.e., No risk reduction). The correlation of Pinnacle Sherman 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.

Pinnacle Sherman Correlation With Market

Very poor diversification

The correlation between Pinnacle Sherman Multi Strateg and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pinnacle Sherman Multi Strateg 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 Pinnacle Sherman Multi Strategy. 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 rate.

Moving together with Pinnacle Mutual Fund

  1.0APSHX Pinnacle Sherman MultiPairCorr
  1.0IPSHX Pinnacle Sherman MultiPairCorr
  0.96PAALX All Asset FundPairCorr
  0.96PATRX Pimco All AssetPairCorr
  0.96PAAIX All Asset FundPairCorr
  0.96PALPX Pimco All AssetPairCorr
  0.95PASAX All Asset FundPairCorr
  0.96PASCX All Asset FundPairCorr
  0.96PAANX Pimco All AssetPairCorr
  0.93PAUPX Pimco All AssetPairCorr
  0.93PAUIX Pimco All AssetPairCorr
  0.9FSMMX Fs Multi StrategyPairCorr
  0.96BTMPX Ishares Msci EafePairCorr
  0.96BTMKX Blackrock InternationalPairCorr
  0.96MDIIX Blackrock Intern IndexPairCorr
  0.69SPMPX Invesco Steelpath MlpPairCorr
  0.7MLPNX Oppenheimer Steelpath MlpPairCorr
  0.68MLPMX Oppenheimer Steelpath MlpPairCorr
  0.68SPMJX Invesco Steelpath MlpPairCorr
  0.99ANZAX Allianzgi ConvertiblePairCorr
  0.97MPACX Matthews Asia GrowthPairCorr
  0.98FTESX Templeton EmergingPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.87RTEAX Tax Exempt BondPairCorr
  0.87FMFIX Free Market FixedPairCorr
  0.97PZVEX Pzena Emerging MarketsPairCorr
  0.99LINKX Blackrock Lifepath IdxPairCorr
  0.98HRSRX Hood River SmallPairCorr
  0.87FCITX Franklin Federal IntPairCorr
  0.99CLSPX Columbia Mid CapPairCorr
  0.96AMVYX Mid Cap ValuePairCorr
  0.99NSFHX Natixis SustainablePairCorr
  0.96THMGX Thornburg InvestmentPairCorr
  0.96TRIEX Tiaa Cref InternationalPairCorr
  0.97CCYIX Columbia Acorn InterPairCorr
  0.97SGIIX First Eagle GlobalPairCorr
  0.94AQRNX Aqr Risk ParityPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Pinnacle Mutual Fund performing well and Pinnacle Sherman 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 Pinnacle Sherman'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APSHX  0.47  0.11  0.09  0.33  0.14 
(0.56)
 1.32 
(0.55)
 3.14 
IPSHX  0.46  0.11  0.09  0.33  0.18 
(0.55)
 1.30 
(0.54)
 3.08 
CPSHX  0.48  0.11  0.08  0.32  0.22 
(0.60)
 1.38 
(0.59)
 3.18 
PVFIX  0.53  0.11 (0.01) 1.35  0.43 
(0.62)
 1.18 
(0.71)
 3.31 
MMMSX  0.88  0.11  0.11  0.24  0.81 
(1.09)
 2.28 
(1.69)
 6.58 
IOFCX  0.29  0.05 (0.19) 0.61  0.12 
(0.37)
 0.68 
(0.43)
 2.22 
QMNIX  0.27  0.02 (0.22) 2.04  0.36 
(0.30)
 0.53 
(0.53)
 2.22 
RLBCX  0.39  0.09  0.05  0.29  0.19 
(0.46)
 1.31 
(0.87)
 2.72 
FHRRX  0.21  0.05  0.00  0.51  0.00 
 0.00 
 0.60 
(0.57)
 1.20 
CENAX  0.14  0.02 (0.51) 0.33  0.00 
(0.21)
 0.32 
(0.21)
 0.74 

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