1290 Unconstrained Correlations

TNURX Fund

USD 8.19 0.03 0.36%

The current 90-days correlation between 1290 Unconstrained Bond and Blackrock Developed Real is 0.4 (i.e., Very weak 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

Modest diversification

The correlation between 1290 Unconstrained Bond and DJI is 0.2 (i.e., Modest 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 housing.

Moving together with 1290 Mutual Fund

0.8	DOXIX	Dodge Cox Income	Pair Corr
0.81	MWTNX	Metropolitan West Total	Pair Corr
0.81	MWTSX	Metropolitan West Total	Pair Corr
0.8	PTTPX	Pimco Total Return	Pair Corr
0.81	PTRRX	Total Return	Pair Corr
0.81	PTRAX	Total Return	Pair Corr
0.76	PTTRX	Total Return	Pair Corr
0.81	FIWGX	Strategic Advisers	Pair Corr
0.75	DODIX	Dodge Income	Pair Corr
0.82	MWTIX	Metropolitan West Total	Pair Corr
0.64	PFN	Pimco Income Strategy	Pair Corr
0.66	CIF	Mfs Intermediate High	Pair Corr
0.63	NXJ	Nuveen New Jersey	Pair Corr
0.61	HD	Home Depot Earnings Call Today	Pair Corr

Related Correlations Analysis

	BIRDX	SRPIX	NMMGX	FIKMX	PAGEX
BIRDX		-0.62	0.96	0.74	0.69	BIRDX
SRPIX	-0.62		-0.74	-0.24	-0.44	SRPIX
NMMGX	0.96	-0.74		0.56	0.7	NMMGX
FIKMX	0.74	-0.24	0.56		0.56	FIKMX
PAGEX	0.69	-0.44	0.7	0.56		PAGEX
	BIRDX	SRPIX	NMMGX	FIKMX	PAGEX

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

NMMGX	+ 0.96	BIRDX
FIKMX	+ 0.74	BIRDX
PAGEX	+ 0.7	NMMGX
PAGEX	+ 0.69	BIRDX
FIKMX	+ 0.56	NMMGX
PAGEX	+ 0.56	FIKMX

High negative correlations

NMMGX	- 0.74	SRPIX
SRPIX	- 0.62	BIRDX
PAGEX	- 0.44	SRPIX
FIKMX	- 0.24	SRPIX

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
BIRDX	0.56	(0.01)	(0.05)	0.08	0.76	(0.56)	1.33	(1.31)	3.34
SRPIX	0.65	0.06	(0.12)	0.01	0.77	(0.79)	1.67	(1.61)	4.35
NMMGX	0.55	(0.03)	(0.07)	0.05	0.75	(0.56)	1.16	(1.23)	3.43
FIKMX	0.19	0.02	(0.21)	0.86	0.15	(0.23)	0.42	(0.42)	1.35
PAGEX	0.56	0.02	(0.07)	0.35	0.78	(0.57)	1.24	(1.23)	3.41

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