Aqr Long-short Correlations

Mutual Funds . USA . 
Fund . Aqr Long Short Equity
QLENX Fund  USD 17.93  0.03  0.17%   
The current 90-days correlation between Aqr Long Short and Tiaa Cref Lifestyle Conservative is 0.43 (i.e., Very weak 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

Weak diversification

The correlation between Aqr Long Short Equity and DJI is 0.32 (i.e., 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 board of governors.

Moving together with Aqr Mutual Fund

  0.76NLSCX Neuberger Berman LongPairCorr
  0.64NLSAX Neuberger Berman LongPairCorr
  0.78NLSIX Neuberger Berman LongPairCorr
  1.0QLERX Aqr Long ShortPairCorr
  0.89DHLSX Diamond Hill LongPairCorr
  0.88DIAYX Diamond Hill LongPairCorr
  0.89DIAMX Diamond Hill LongPairCorr
  0.8ASLAX Ab Select LongshortPairCorr
  0.85VTSAX Vanguard Total StockPairCorr
  0.85VFIAX Vanguard 500 IndexPairCorr
  0.85VTSMX Vanguard Total StockPairCorr
  0.85VSMPX Vanguard Total StockPairCorr
  0.85VSTSX Vanguard Total StockPairCorr
  0.85VITSX Vanguard Total StockPairCorr
  0.85VFINX Vanguard 500 IndexPairCorr
  0.66VFFSX Vanguard 500 IndexPairCorr
  0.9VGTSX Vanguard Total InterPairCorr
  0.9VTIAX Vanguard Total InterPairCorr
  0.8LEVIX Lazard Equity CentratedPairCorr
  0.87DQIYX Dreyfus Equity IncomePairCorr
  0.86CSRYX Columbia Select LargePairCorr
  0.86FNILX Fidelity Zero LargePairCorr
  0.91FDEGX Fidelity Growth StraPairCorr
  0.77SPSDX Sterling Capital BehPairCorr
  0.81HBLYX Hartford BalancedPairCorr
  0.77ISIAX Voya Strategic IncomePairCorr
  0.83PSHAX Short Term FundPairCorr
  0.64RRTAX T Rowe PricePairCorr
  0.86FASCX Franklin K2 AlternativePairCorr
  0.86FFEGX Fidelity Freedom IndexPairCorr
  0.79EMAYX Enterprise Mergers AndPairCorr
  0.84FFFCX Fidelity Freedom 2010PairCorr
  0.94RIVKX American Funds InterPairCorr
  0.82DCEMX Dunham Emerging MarketsPairCorr
  0.71FISVX Fidelity Small CapPairCorr

Moving against Aqr Mutual Fund

  0.54PWLMX Pimco Rae WorldwidePairCorr
  0.52PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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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.

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