Gotham Absolute Correlations

GARIX Fund

USD 22.25 0.30 0.40%

The current 90-days correlation between Gotham Absolute Return and Ivy Natural Resources is -0.1 (i.e., Good diversification). The correlation of Gotham Absolute 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.

Gotham Absolute Correlation With Market

Poor diversification

The correlation between Gotham Absolute Return and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Absolute Return and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. 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 gross domestic product.

Moving together with Gotham Mutual Fund

0.69	GVALX	Gotham Large Value	Pair Corr
0.76	GENIX	Gotham Enhanced Return	Pair Corr
0.96	GINDX	Gotham Index Plus	Pair Corr
0.96	GNNDX	Gotham Index Plus	Pair Corr
0.7	GSPFX	Gotham Enhanced Sp	Pair Corr
0.88	GTRFX	Gotham Total Return	Pair Corr
0.76	NLSCX	Neuberger Berman Long	Pair Corr
0.79	NLSAX	Neuberger Berman Long	Pair Corr
0.67	NLSIX	Neuberger Berman Long	Pair Corr
0.93	QLERX	Aqr Long Short	Pair Corr
0.87	DHLSX	Diamond Hill Long	Pair Corr
0.93	DIAYX	Diamond Hill Long	Pair Corr
0.88	DIAMX	Diamond Hill Long	Pair Corr
0.94	ASLAX	Ab Select Longshort	Pair Corr
0.82	SMPSX	Semiconductor Ultrasector	Pair Corr
0.68	SMPIX	Semiconductor Ultrasector	Pair Corr
0.9	FELIX	Fidelity Advisor Sem	Pair Corr
0.93	ONERX	One Rock Fund	Pair Corr
0.92	RYVYX	Nasdaq 100 2x	Pair Corr
0.92	RYVLX	Nasdaq 100 2x	Pair Corr
0.79	FSELX	Fidelity Select Semi	Pair Corr
0.88	FNYAX	Franklin New York	Pair Corr
0.87	JGQIX	Jensen Global Quality	Pair Corr
0.92	PYGIX	Payden Global Fixed	Pair Corr
0.75	FOKPX	Oklahoma College Savings	Pair Corr
0.72	ADKSX	Adirondack Small Cap	Pair Corr
0.87	TILPX	Tiaa Cref Large	Pair Corr
0.68	JAFLX	Flexible Bond Portfolio	Pair Corr
0.86	MACFX	Mfs Servative Allocation	Pair Corr
0.92	VALIX	Value Line Income	Pair Corr

Moving against Gotham Mutual Fund

0.66	GEFPX	Gotham Enhanced 500	Pair Corr
0.58	GDLFX	Gotham Defensive Long	Pair Corr
0.39	PWLIX	Pimco Rae Worldwide	Pair Corr
0.32	PWLMX	Pimco Rae Worldwide	Pair Corr
0.46	CEE	Central Europe Russia	Pair Corr
0.34	TREMX	T Rowe Price	Pair Corr
0.33	TTEEX	T Rowe Price	Pair Corr

Related Correlations Analysis

	IGNAX	PSPFX	XTYGX	DNLAX	PNRCX	GMOWX	ENPSX	VENAX
IGNAX		0.99	0.49	0.92	0.98	0.94	0.44	0.61	IGNAX
PSPFX	0.99		0.48	0.88	0.99	0.91	0.4	0.58	PSPFX
XTYGX	0.49	0.48		0.47	0.55	0.34	0.05	0.15	XTYGX
DNLAX	0.92	0.88	0.47		0.9	0.93	0.64	0.76	DNLAX
PNRCX	0.98	0.99	0.55	0.9		0.9	0.45	0.62	PNRCX
GMOWX	0.94	0.91	0.34	0.93	0.9		0.59	0.73	GMOWX
ENPSX	0.44	0.4	0.05	0.64	0.45	0.59		0.98	ENPSX
VENAX	0.61	0.58	0.15	0.76	0.62	0.73	0.98		VENAX
	IGNAX	PSPFX	XTYGX	DNLAX	PNRCX	GMOWX	ENPSX	VENAX

Risk-Adjusted Indicators

There is a big difference between Gotham Mutual Fund performing well and Gotham Absolute 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 Gotham Absolute'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
IGNAX	0.72	0.19	0.12	30.40	0.83	(0.75)	1.56	(1.43)	5.10
PSPFX	0.94	0.32	0.20	0.87	0.96	(1.16)	2.35	(1.54)	7.71
XTYGX	0.73	0.03	(0.05)	(0.11)	0.91	(0.73)	1.62	(1.53)	4.51
DNLAX	0.79	0.05	(0.02)	(0.65)	1.05	(0.77)	1.50	(1.57)	6.33
PNRCX	0.74	0.11	0.08	0.22	0.96	(0.80)	1.58	(1.73)	6.80
GMOWX	0.94	0.12	0.05	(2.24)	0.97	(1.09)	2.11	(1.71)	7.29
ENPSX	1.22	0.00	0.00	0.06	1.57	(1.25)	2.57	(2.75)	7.46
VENAX	0.83	0.01	(0.01)	0.08	1.05	(0.87)	1.74	(1.87)	5.16

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