Ares Dynamic Correlations

Funds . USA . 
Fund . Ares Dynamic Credit
ARDC Fund  USD 14.26  0.01  0.07%   
The current 90-days correlation between Ares Dynamic Credit and Eaton Vance Floating is 0.59 (i.e., Very weak diversification). The correlation of Ares Dynamic 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.

Ares Dynamic Correlation With Market

Very weak diversification

The correlation between Ares Dynamic Credit and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ares Dynamic Credit and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ares Dynamic Credit. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Ares Fund

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  0.85PBXIX Rationalpier 88 ConvPairCorr
  0.96MDIKX Mfs InternationalPairCorr
  0.93QLMYIX Legg Mason PartnersPairCorr
  0.78GPAAX Grant Park MultiPairCorr
  0.97CCIFX Columbia SeligmanPairCorr
  0.8VCRCX Mainstay Cbre GlobalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Ares Fund performing well and Ares Dynamic 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 Ares Dynamic'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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