Alps/kotak India Correlations

INDAX Fund

USD 16.33 0.21 1.27%

The current 90-days correlation between Alpskotak India Growth and Wasatch Emerging India is 0.82 (i.e., Very poor diversification). The correlation of Alps/kotak India 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.

Alps/kotak India Correlation With Market

Weak diversification

The correlation between Alpskotak India Growth and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpskotak India Growth 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, which includes a position in Alpskotak India Growth. 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 Alps/kotak Mutual Fund

1.0	INAAX	Alpskotak India Growth	Pair Corr
0.94	INFCX	Alpskotak India Growth	Pair Corr
1.0	INDIX	Alpskotak India Growth	Pair Corr
0.94	INDSX	Financial Investors Trust	Pair Corr
0.81	MIDNX	Matthews India	Pair Corr
0.74	MINDX	Matthews India	Pair Corr
0.93	WAINX	Wasatch Emerging India	Pair Corr
0.93	WIINX	Wasatch Emerging India	Pair Corr

Moving against Alps/kotak Mutual Fund

0.65	BHIIX	Brigade High Income	Pair Corr
0.64	SMCMX	Alpssmith Short Duration	Pair Corr
0.63	BHIMX	ALPS Series Trust	Pair Corr
0.62	SMASX	Alpssmith Short Duration	Pair Corr
0.6	RAGIX	Riverfront Asset All	Pair Corr
0.59	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.57	SMAMX	Alpssmith Total Return	Pair Corr
0.57	SMCHX	Alpssmith Total Return	Pair Corr
0.55	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.54	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.33	JCCSX	Alpscorecommodity	Pair Corr
0.33	JCRIX	Alps/corecommodity	Pair Corr
0.32	JCRAX	Alps/corecommodity	Pair Corr
0.32	JCRCX	Alps/corecommodity	Pair Corr
0.67	SMRSX	Alpssmith Short Duration	Pair Corr
0.67	WHIAX	Ivy High Income	Pair Corr
0.67	IHIFX	Ivy High Income	Pair Corr
0.66	IVHIX	Ivy High Income	Pair Corr
0.65	WRHIX	Ivy High Income	Pair Corr
0.62	ALIBX	ALPSSmith Balanced	Pair Corr
0.61	SMDSX	Alpssmith Short Duration	Pair Corr
0.61	ALCBX	ALPSSmith Balanced	Pair Corr
0.61	SRINX	Columbia Porate Income	Pair Corr
0.6	LIIAX	Columbia Porate Income	Pair Corr
0.59	RLGCX	Riverfront Dynamic Equity	Pair Corr
0.59	RLGAX	Riverfront Dynamic Equity	Pair Corr
0.59	RLIIX	Riverfront Dynamic Equity	Pair Corr
0.59	ALPBX	ALPSSmith Balanced	Pair Corr
0.58	SMTRX	Alpssmith Total Return	Pair Corr

Related Correlations Analysis

	WAINX	INDIX	INFCX	ETGIX	INCO
WAINX		0.92	0.89	0.95	-0.38	WAINX
INDIX	0.92		0.94	0.98	-0.09	INDIX
INFCX	0.89	0.94		0.93	-0.04	INFCX
ETGIX	0.95	0.98	0.93		-0.11	ETGIX
INCO	-0.38	-0.09	-0.04	-0.11		INCO
	WAINX	INDIX	INFCX	ETGIX	INCO

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

ETGIX	+ 0.98	INDIX
ETGIX	+ 0.95	WAINX
INFCX	+ 0.94	INDIX
ETGIX	+ 0.93	INFCX
INDIX	+ 0.92	WAINX
INFCX	+ 0.89	WAINX

High negative correlations

INCO	- 0.38	WAINX
INCO	- 0.11	ETGIX
INCO	- 0.09	INDIX
INCO	- 0.04	INFCX

Risk-Adjusted Indicators

There is a big difference between Alps/kotak Mutual Fund performing well and Alps/kotak India 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 Alps/kotak India'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	Potential Upside	Value @Risk	Maximum Drawdown
WAINX	0.67	(0.19)	(0.55)	0.93	(1.47)	3.96
INDIX	0.49	(0.11)	(0.26)	0.91	(1.16)	3.25
INFCX	0.47	(0.11)	(1.09)	0.83	(1.15)	3.21
ETGIX	0.51	(0.12)	(0.39)	0.86	(1.16)	2.77
INCO	0.60	(0.01)	(0.68)	1.21	(1.23)	4.61

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