Multifactor Equity Correlations

Mutual Funds . USA . 
Fund . Multifactor Equity Fund
RTDCX Fund  USD 16.55  0.12  0.73%   
The current 90-days correlation between Multifactor Equity and Doubleline Emerging Markets is 0.04 (i.e., Significant diversification). The correlation of Multifactor Equity 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.

Multifactor Equity Correlation With Market

Very poor diversification

The correlation between Multifactor Equity Fund and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multifactor Equity Fund 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 Multifactor Equity Fund. 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 main economic indicators.

Moving together with Multifactor Mutual Fund

  0.94RNTTX International DevelopedPairCorr
  0.78RREAX Global Real EstatePairCorr
  0.78RREYX Global Real EstatePairCorr
  0.64RRESX Global Real EstatePairCorr
  0.65RRSRX Global Real EstatePairCorr
  1.0RALCX Growth StrategyPairCorr
  1.0RALSX Growth StrategyPairCorr
  0.88RALRX Growth StrategyPairCorr
  0.88RALVX Growth StrategyPairCorr
  0.75RSBTX Short Duration BondPairCorr
  0.85RSBYX Short Duration BondPairCorr
  1.0RSEAX Us Strategic EquityPairCorr
  1.0RSESX Us Strategic EquityPairCorr
  0.75RSDTX Short Duration BondPairCorr
  0.86RAZAX Multi Asset GrowthPairCorr
  0.86RSQAX Us E EquityPairCorr
  0.74RBCUX Tax Exempt BondPairCorr
  0.99RBLAX Balanced StrategyPairCorr
  0.99RBLSX Balanced StrategyPairCorr
  0.88RBLVX Balanced StrategyPairCorr
  0.99RBLRX Balanced StrategyPairCorr
  0.89RTDYX Select EquityPairCorr
  0.88RTDSX Select EquityPairCorr
  0.89RTDRX Select EquityPairCorr
  0.89RTDTX Select EquityPairCorr
  0.72RTEAX Tax Exempt BondPairCorr
  0.66RTECX Tax Exempt BondPairCorr
  0.79RTISX Select InternationalPairCorr

Moving against Multifactor Mutual Fund

  0.41RTHCX Tax Exempt HighPairCorr
  0.33RTHSX Tax Exempt HighPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Multifactor Mutual Fund performing well and Multifactor Equity 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 Multifactor Equity'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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