1290 Unconstrained Correlations

TNUAX Fund

USD 8.23 0.02 0.24%

The current 90-days correlation between 1290 Unconstrained Bond and Morningstar Defensive Bond is 0.63 (i.e., Poor diversification). The correlation of 1290 Unconstrained 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 Unconstrained Correlation With Market

Significant diversification

The correlation between 1290 Unconstrained Bond and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Unconstrained Bond 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 Unconstrained Bond. 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 nation.

Moving together with 1290 Mutual Fund

0.65	ESCKX	1290 Funds	Pair Corr
0.65	ESCFX	1290 Funds	Pair Corr
0.66	TNBIX	1290 Smartbeta Equity	Pair Corr
0.66	TNBAX	1290 Smartbeta Equity	Pair Corr
0.76	TNHIX	1290 High Yield	Pair Corr
0.7	TNMRX	1290 Multi Alternative	Pair Corr
0.66	TNRAX	1290 Funds	Pair Corr
1.0	TNURX	1290 Unconstrained Bond	Pair Corr
0.77	TNVDX	1290 Doubleline Dynamic	Pair Corr
0.62	TNVAX	1290 Gamco Smallmid	Pair Corr
0.62	TNVIX	1290 Gamco Smallmid	Pair Corr
1.0	TNUIX	1290 Unconstrained Bond	Pair Corr
0.77	TNXAX	1290 Doubleline Dynamic	Pair Corr
0.66	TNXIX	1290 Retirement 2060	Pair Corr
0.62	TNVRX	1290 Gamco Smallmid	Pair Corr
0.77	TNYRX	1290 Doubleline Dynamic	Pair Corr

Moving against 1290 Mutual Fund

0.7	TNIIX	1290 Retirement 2020	Pair Corr
0.7	TNKIX	1290 Retirement 2030	Pair Corr
0.7	TNOIX	1290 Retirement 2045	Pair Corr
0.7	TNNIX	1290 Retirement 2040	Pair Corr
0.7	TNQIX	1290 Retirement 2055	Pair Corr
0.69	TNJIX	1290 Retirement 2025	Pair Corr
0.7	TNWIX	1290 Retirement 2050	Pair Corr

Related Correlations Analysis

	MSTBX	ABNTX	MBSAX	PRVBX	CFNLX	AXBIX	BXHCX	ANBIX
MSTBX		0.94	0.92	0.95	0.85	0.73	0.87	0.94	MSTBX
ABNTX	0.94		0.82	0.94	0.69	0.58	0.78	1.0	ABNTX
MBSAX	0.92	0.82		0.86	0.91	0.82	0.98	0.82	MBSAX
PRVBX	0.95	0.94	0.86		0.74	0.61	0.83	0.95	PRVBX
CFNLX	0.85	0.69	0.91	0.74		0.94	0.9	0.69	CFNLX
AXBIX	0.73	0.58	0.82	0.61	0.94		0.83	0.57	AXBIX
BXHCX	0.87	0.78	0.98	0.83	0.9	0.83		0.77	BXHCX
ANBIX	0.94	1.0	0.82	0.95	0.69	0.57	0.77		ANBIX
	MSTBX	ABNTX	MBSAX	PRVBX	CFNLX	AXBIX	BXHCX	ANBIX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSTBX	0.10	0.01	(1.20)	1.24	0.00	(0.14)	0.21	(0.21)	0.41
ABNTX	0.13	0.01	(0.64)	0.37	0.04	(0.17)	0.29	(0.29)	1.08
MBSAX	0.24	0.07	(0.34)	(6.63)	0.00	(0.29)	0.52	(0.43)	1.62
PRVBX	0.09	0.02	(1.06)	10.86	0.00	(0.10)	0.20	(0.17)	0.63
CFNLX	0.10	0.02	(1.09)	0.99	0.00	(0.14)	0.22	(0.22)	0.82
AXBIX	0.11	0.01	(1.07)	0.40	0.00	(0.18)	0.29	(0.19)	0.86
BXHCX	0.14	0.07	(0.71)	7.94	0.00	(0.24)	0.50	(0.13)	1.02
ANBIX	0.13	0.01	(0.62)	0.67	0.06	(0.15)	0.29	(0.29)	0.97

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