1290 Gamco Correlations

Mutual Funds . USA . 
Fund . 1290 Gamco Smallmid
TNVIX Fund  USD 18.19  0.05  0.28%   
The current 90-days correlation between 1290 Gamco Smallmid and Prudential High Yield is 0.36 (i.e., Weak diversification). The correlation of 1290 Gamco 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 Gamco Correlation With Market

Good diversification

The correlation between 1290 Gamco Smallmid and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Gamco Smallmid 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 Gamco Smallmid. 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

  0.95TNBIX 1290 Smartbeta EquityPairCorr
  0.95TNHIX 1290 High YieldPairCorr
  0.94TNMRX 1290 Multi AlternativePairCorr
  0.97TNRAX 1290 FundsPairCorr
  0.62TNURX 1290 Unconstrained BondPairCorr
  0.95TNVDX 1290 Doubleline DynamicPairCorr
  0.62TNUAX 1290 Unconstrained BondPairCorr
  0.64TNUIX 1290 Unconstrained BondPairCorr
  0.95TNXAX 1290 Doubleline DynamicPairCorr
  0.97TNXIX 1290 Retirement 2060PairCorr
  1.0TNVRX 1290 Gamco SmallmidPairCorr
  0.95TNYRX 1290 Doubleline DynamicPairCorr
  0.97VISVX Vanguard Small CapPairCorr
  0.63DFSVX Us Small CapPairCorr
  0.63UBVCX Undiscovered ManagersPairCorr

Moving against 1290 Mutual Fund

  0.7TNKIX 1290 Retirement 2030PairCorr
  0.7TNOIX 1290 Retirement 2045PairCorr
  0.7TNQIX 1290 Retirement 2055PairCorr
  0.69TNNIX 1290 Retirement 2040PairCorr
  0.45TNIIX 1290 Retirement 2020PairCorr
  0.45TNJIX 1290 Retirement 2025PairCorr
  0.7TNWIX 1290 Retirement 2050PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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