1290 Smartbeta Correlations

Mutual Funds . USA . 
Fund . 1290 Smartbeta Equity
TNBIX Fund  USD 20.39  0.10  0.49%   
The current 90-days correlation between 1290 Smartbeta Equity and 1290 Unconstrained Bond is 0.25 (i.e., Modest diversification). The correlation of 1290 Smartbeta 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.

1290 Smartbeta Correlation With Market

Very poor diversification

The correlation between 1290 Smartbeta Equity 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 1290 Smartbeta Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in 1290 Smartbeta 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 1290 Mutual Fund

  0.96ESCJX 1290 Essex SmallPairCorr
  0.96ESCFX 1290 FundsPairCorr
  1.0TNBRX 1290 Smartbeta EquityPairCorr
  1.0TNBAX 1290 Smartbeta EquityPairCorr
  0.94TNHAX 1290 High YieldPairCorr
  0.93TNHIX 1290 High YieldPairCorr
  0.93TNHRX 1290 High YieldPairCorr
  0.91TNMAX 1290 Multi AlternativePairCorr
  0.91TNMIX 1290 Multi AlternativePairCorr
  0.91TNMRX 1290 Multi AlternativePairCorr
  0.64TNURX 1290 Unconstrained BondPairCorr
  0.95TNVDX 1290 Doubleline DynamicPairCorr
  0.92TNVAX 1290 Gamco SmallmidPairCorr
  0.92TNVIX 1290 Gamco SmallmidPairCorr
  0.67TNUAX 1290 Unconstrained BondPairCorr
  0.67TNUIX 1290 Unconstrained BondPairCorr
  0.96TNXAX 1290 Doubleline DynamicPairCorr
  0.96TNXIX 1290 Retirement 2060PairCorr
  0.92TNVRX 1290 Gamco SmallmidPairCorr
  0.95TNYRX 1290 Doubleline DynamicPairCorr
  0.96FCWGX American Funds CapitalPairCorr
  0.96FWCGX American Funds CapitalPairCorr
  0.96CWGIX Capital World GrowthPairCorr
  0.96CWGFX Capital World GrowthPairCorr
  0.96CWGCX Capital World GrowthPairCorr
  0.96RWIFX Capital World GrowthPairCorr
  0.96CWICX Capital World GrowthPairCorr
  0.96RWIAX Capital World GrowthPairCorr
  0.96CWIAX Capital World GrowthPairCorr

Moving against 1290 Mutual Fund

  0.71TNIIX 1290 Retirement 2020PairCorr
  0.71TNKIX 1290 Retirement 2030PairCorr
  0.71TNOIX 1290 Retirement 2045PairCorr
  0.71TNNIX 1290 Retirement 2040PairCorr
  0.71TNQIX 1290 Retirement 2055PairCorr
  0.7TNJIX 1290 Retirement 2025PairCorr
  0.82XNBHX Neuberger Berman IntPairCorr
  0.79XDSMX Dreyfus StrategicPairCorr
  0.71TNWIX 1290 Retirement 2050PairCorr
  0.61XNXJX Nuveen New JerseyPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Smartbeta 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 1290 Smartbeta'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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