1290 Smartbeta Correlations

Mutual Funds . USA . 
Fund . 1290 Smartbeta Equity
TNBRX Fund  USD 20.43  0.09  0.44%   
The current 90-days correlation between 1290 Smartbeta Equity and Short Duration Inflation is -0.2 (i.e., Good 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

Good diversification

The correlation between 1290 Smartbeta Equity and DJI is -0.14 (i.e., Good 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 housing.

Moving together with 1290 Mutual Fund

  0.92ESCKX 1290 FundsPairCorr
  0.92ESCJX 1290 Essex SmallPairCorr
  0.95ESCFX 1290 FundsPairCorr
  1.0TNBIX 1290 Smartbeta EquityPairCorr
  1.0TNBAX 1290 Smartbeta EquityPairCorr
  0.92TNHAX 1290 High YieldPairCorr
  0.92TNHIX 1290 High YieldPairCorr
  0.91TNHRX 1290 High YieldPairCorr
  0.91TNMAX 1290 Multi AlternativePairCorr
  0.91TNMIX 1290 Multi AlternativePairCorr
  0.91TNMRX 1290 Multi AlternativePairCorr
  0.96TNRAX 1290 FundsPairCorr
  0.68TNURX 1290 Unconstrained BondPairCorr
  0.95TNVDX 1290 Doubleline DynamicPairCorr
  0.87TNVAX 1290 Gamco SmallmidPairCorr
  0.87TNVIX 1290 Gamco SmallmidPairCorr
  0.67TNUAX 1290 Unconstrained BondPairCorr
  0.67TNUIX 1290 Unconstrained BondPairCorr
  0.96TNXAX 1290 Doubleline DynamicPairCorr
  0.96TNXIX 1290 Retirement 2060PairCorr
  0.91TNVRX 1290 Gamco SmallmidPairCorr
  0.93TNYRX 1290 Doubleline DynamicPairCorr
  0.95FCWGX American Funds CapitalPairCorr
  0.95FWCGX American Funds CapitalPairCorr
  0.95CWGIX Capital World GrowthPairCorr
  0.92CWGFX Capital World GrowthPairCorr
  0.95CWGCX Capital World GrowthPairCorr
  0.95RWIFX Capital World GrowthPairCorr
  0.92CWICX Capital World GrowthPairCorr
  0.92RWIAX Capital World GrowthPairCorr
  0.95CWIAX Capital World GrowthPairCorr

Moving against 1290 Mutual Fund

  0.63TNIIX 1290 Retirement 2020PairCorr
  0.63TNKIX 1290 Retirement 2030PairCorr
  0.63TNJIX 1290 Retirement 2025PairCorr
  0.63TNOIX 1290 Retirement 2045PairCorr
  0.63TNNIX 1290 Retirement 2040PairCorr
  0.63TNQIX 1290 Retirement 2055PairCorr
  0.96USPIX Profunds UltrashortPairCorr
  0.93USPSX Profunds UltrashortPairCorr
  0.79UIPIX Ultrashort Mid CapPairCorr
  0.72TCSUX Cleartrack 2020 ClassPairCorr
  0.7TCTGX Transamerica CleartrackPairCorr
  0.69TDKTX Cleartrack 2015 ClassPairCorr
  0.69TCTJX Transamerica CleartrackPairCorr
  0.63TNWIX 1290 Retirement 2050PairCorr

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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