1290 Unconstrained Correlations

TNUAX Fund  USD 8.15  0.05  0.61%   
The current 90-days correlation between 1290 Unconstrained Bond and 1290 Funds is 0.08 (i.e., Significant 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 0.08 (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

  0.75ESCFX 1290 FundsPairCorr
  0.76TNBIX 1290 Smartbeta EquityPairCorr
  0.84TNHAX 1290 High YieldPairCorr
  0.83TNHIX 1290 High YieldPairCorr
  0.84TNHRX 1290 High YieldPairCorr
  0.81TNMAX 1290 Multi AlternativePairCorr
  0.81TNMRX 1290 Multi AlternativePairCorr
  0.93TNURX 1290 Unconstrained BondPairCorr
  0.84TNVDX 1290 Doubleline DynamicPairCorr
  0.73TNVAX 1290 Gamco SmallmidPairCorr
  0.73TNVRX 1290 Gamco SmallmidPairCorr
  0.83TNYRX 1290 Doubleline DynamicPairCorr
  0.68MWTNX Metropolitan West TotalPairCorr
  0.69MWTSX Metropolitan West TotalPairCorr
  0.74PTTPX Pimco Total ReturnPairCorr
  0.71PTRRX Total ReturnPairCorr
  0.71PTRAX Total ReturnPairCorr
  0.8PTTRX Total ReturnPairCorr
  0.76FIWGX Strategic AdvisersPairCorr
  0.81DODIX Dodge IncomePairCorr
  0.7MWTIX Metropolitan West TotalPairCorr
  0.76MWTRX Metropolitan West TotalPairCorr

Moving against 1290 Mutual Fund

  0.69TNIIX 1290 Retirement 2020PairCorr
  0.69TNNIX 1290 Retirement 2040PairCorr
  0.66TNJIX 1290 Retirement 2025PairCorr
  0.39TNKIX 1290 Retirement 2030PairCorr
  0.39TNOIX 1290 Retirement 2045PairCorr
  0.39TNQIX 1290 Retirement 2055PairCorr
  0.39TNWIX 1290 Retirement 2050PairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
TNBAXTNBRX
TNHRXTNHAX
TNHIXTNHAX
TNHRXTNHIX
TNHAXESCFX
TNHIXESCFX
  
High negative correlations   
TNHIXTNIIX
TNHAXTNIIX
TNHRXTNIIX
TNIIXESCFX
TNIIXTNBIX
TNIIXESCJX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ESCKX  0.79  0.26  0.23  0.54  0.13 
 2.27 
 5.38 
ESCJX  0.79  0.38  0.23 (4.83) 0.11 
 2.50 
 5.39 
ESCFX  0.91  0.41  0.22  4.99  0.51 
 2.69 
 5.34 
TNBIX  0.45  0.14 (0.06)(2.09) 0.37 
 1.17 
 3.12 
TNBRX  0.39  0.06 (0.09) 0.32  0.14 
 1.05 
 2.47 
TNBAX  0.39  0.06 (0.10) 0.33  0.13 
 1.04 
 2.41 
TNIIX  0.65 (0.28) 0.00 (12.49) 0.00 
 0.48 
 22.13 
TNHAX  0.15  0.07 (0.47)(9.43) 0.00 
 0.37 
 0.97 
TNHIX  0.14  0.08 (0.46)(3.24) 0.00 
 0.37 
 0.97 
TNHRX  0.14  0.07 (0.55) 13.27  0.00 
 0.37 
 0.95