Aqr Long-short Correlations

QLEIX Fund

USD 18.54 0.09 0.49%

The current 90-days correlation between Aqr Long Short and Dunham High Yield is 0.2 (i.e., Modest diversification). The correlation of Aqr Long-short 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.

Aqr Long-short Correlation With Market

Very weak diversification

The correlation between Aqr Long Short Equity 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 Aqr Long Short Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Aqr Long Short Equity. 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 Aqr Mutual Fund

0.7	NLSCX	Neuberger Berman Long	Pair Corr
0.72	NLSIX	Neuberger Berman Long	Pair Corr
1.0	QLERX	Aqr Long Short	Pair Corr
0.8	DHLSX	Diamond Hill Long	Pair Corr
0.8	DIAYX	Diamond Hill Long	Pair Corr
0.8	DIAMX	Diamond Hill Long	Pair Corr
0.77	ASLAX	Ab Select Longshort	Pair Corr
0.87	CVLOX	Calamos Global Growth	Pair Corr
0.76	UIVMX	Mfs Intrinsic Value	Pair Corr
0.78	MAUKX	Pioneer Multi Asset	Pair Corr
0.61	PHK	Pimco High Income	Pair Corr
0.62	GE	GE Aerospace	Pair Corr
0.68	IBM	International Business	Pair Corr

Moving against Aqr Mutual Fund

0.53	PWLMX	Pimco Rae Worldwide	Pair Corr
0.52	PWLIX	Pimco Rae Worldwide	Pair Corr
0.38	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	DNHYX	NHIEX	FAGIX	THYAX	FPIOX	SCFFX
DNHYX		0.99	0.89	0.99	0.9	0.99	DNHYX
NHIEX	0.99		0.9	0.98	0.9	0.98	NHIEX
FAGIX	0.89	0.9		0.89	0.99	0.89	FAGIX
THYAX	0.99	0.98	0.89		0.89	0.99	THYAX
FPIOX	0.9	0.9	0.99	0.89		0.88	FPIOX
SCFFX	0.99	0.98	0.89	0.99	0.88		SCFFX
	DNHYX	NHIEX	FAGIX	THYAX	FPIOX	SCFFX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Aqr Mutual Fund performing well and Aqr Long-short 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 Aqr Long-short'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DNHYX	0.14	0.03	(1.13)	0.45	(0.20)	0.24	(0.12)	1.19
NHIEX	0.14	0.03	(1.18)	0.56	(0.22)	0.40	(0.13)	0.91
FAGIX	0.23	0.11	(0.49)	(3.47)	(0.35)	0.68	(0.20)	1.90
THYAX	0.12	0.03	(1.06)	0.45	(0.22)	0.28	(0.14)	0.96
FPIOX	0.14	0.06	(1.04)	3.79	(0.21)	0.46	(0.12)	1.16
SCFFX	0.07	0.02	0.00	0.58	0.00	0.20	(0.10)	0.41

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC