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., Good 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 good diversification

The correlation between Multifactor Equity Fund and DJI is -0.21 (i.e., Very good 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

  0.95RNTTX International DevelopedPairCorr
  0.86RREAX Global Real EstatePairCorr
  0.84RREYX Global Real EstatePairCorr
  0.83RRESX Global Real EstatePairCorr
  0.85RRSCX Global Real EstatePairCorr
  0.87RRSRX Global Real EstatePairCorr
  1.0RALAX Growth StrategyPairCorr
  0.98RALCX Growth StrategyPairCorr
  0.98RALSX Growth StrategyPairCorr
  1.0RALRX Growth StrategyPairCorr
  0.98RALVX Growth StrategyPairCorr
  0.66RSBRX Strategic BondPairCorr
  0.87RSBTX Short Duration BondPairCorr
  0.86RSBYX Short Duration BondPairCorr
  0.96RSCRX Us Small CapPairCorr
  0.83RSBCX Short Duration BondPairCorr
  1.0RSECX Us Strategic EquityPairCorr
  1.0RSEAX Us Strategic EquityPairCorr
  0.98RSESX Us Strategic EquityPairCorr
  0.87RSDTX Short Duration BondPairCorr
  0.99RAZAX Multi Asset GrowthPairCorr
  0.97RAZCX Multi Asset GrowthPairCorr
  0.99RSQAX Us E EquityPairCorr
  0.86RBCUX Tax Exempt BondPairCorr
  0.64RSYTX Strategic BondPairCorr
  0.99RBLCX Balanced StrategyPairCorr
  1.0RBLAX Balanced StrategyPairCorr
  0.98RBLSX Balanced StrategyPairCorr
  0.98RBLVX Balanced StrategyPairCorr
  0.99RBLRX Balanced StrategyPairCorr
  0.98RTDAX Multifactor EquityPairCorr
  1.0RTDYX Select EquityPairCorr
  0.98RTDSX Select EquityPairCorr
  1.0RTDRX Select EquityPairCorr
  1.0RTDTX Select EquityPairCorr
  0.85RTEAX Tax Exempt BondPairCorr
  0.78RTECX Tax Exempt BondPairCorr

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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