Arbitrage Fund Correlations

ARGAX Fund

USD 13.45 0.03 0.22%

The current 90-days correlation between Arbitrage Fund and The Arbitrage Fund is 0.93 (i.e., Almost no diversification). The correlation of Arbitrage Fund 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.

Arbitrage Fund Correlation With Market

Very weak diversification

The correlation between The Arbitrage Fund and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Arbitrage Fund 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 The Arbitrage Fund. 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 Arbitrage Mutual Fund

1.0	ARBNX	Arbitrage Fund	Pair Corr
1.0	ARBFX	Arbitrage Fund	Pair Corr
1.0	ARBCX	Arbitrage Fund	Pair Corr
0.94	ARCFX	Arbitrage Credit	Pair Corr
0.93	ACFIX	Arbitrage Credit	Pair Corr
1.0	AEDNX	Arbitrage Event	Pair Corr
1.0	AEDFX	Arbitrage Event	Pair Corr
0.94	AGCAX	Arbitrage Credit	Pair Corr
1.0	AGEAX	Arbitrage Event	Pair Corr
0.86	BCLPX	Blckrk Lc Cr	Pair Corr
0.88	BALPX	Blckrk Lc Cr	Pair Corr
0.88	BILPX	Blkrk Lc Cr	Pair Corr
0.97	MERIX	Merger Fund	Pair Corr
0.97	MERFX	Merger Fund	Pair Corr
0.89	VARAX	Vivaldi Merger Arbitrage	Pair Corr
0.9	VARBX	Vivaldi Merger Arbitrage	Pair Corr
0.88	VARCX	First Trust Merger	Pair Corr
0.96	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.96	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.84	EMO	Clearbridge Energy Mlp	Pair Corr
0.64	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.64	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.96	RSNYX	Victory Global Natural	Pair Corr
0.62	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	RSNRX	Victory Global Natural	Pair Corr
0.62	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.97	MMNIX	Miller Market Neutral	Pair Corr
0.82	FRIFX	Fidelity Real Estate	Pair Corr
0.92	GLO	Clough Global Opport	Pair Corr
0.88	RSPYX	Victory Rs Partners	Pair Corr
0.96	APFOX	Artisan Emerging Markets	Pair Corr
0.96	RYRSX	Russell 2000 2x	Pair Corr
0.96	BDBKX	Blackrock Small Cap	Pair Corr
0.78	IFRCX	Voya Floating Rate	Pair Corr
0.95	JHBJX	John Hancock Funds	Pair Corr
0.94	SUTZX	Ab Sustainable Thematic	Pair Corr
0.96	CSBYX	Columbia Short Term	Pair Corr

Moving against Arbitrage Mutual Fund

0.78

ABPRX

Ab Large Cap

Pair Corr

Related Correlations Analysis

	ARBNX	ARBFX	ARBCX	ARCFX	ARGAX	ACFIX	AEDNX	AEDFX	AGCAX	AGEAX
ARBNX		1.0	1.0	0.94	1.0	0.93	1.0	1.0	0.94	1.0	ARBNX
ARBFX	1.0		1.0	0.94	1.0	0.93	1.0	1.0	0.94	1.0	ARBFX
ARBCX	1.0	1.0		0.94	1.0	0.93	1.0	1.0	0.94	1.0	ARBCX
ARCFX	0.94	0.94	0.94		0.94	0.99	0.93	0.93	0.99	0.93	ARCFX
ARGAX	1.0	1.0	1.0	0.94		0.93	1.0	1.0	0.94	1.0	ARGAX
ACFIX	0.93	0.93	0.93	0.99	0.93		0.92	0.92	0.99	0.92	ACFIX
AEDNX	1.0	1.0	1.0	0.93	1.0	0.92		1.0	0.93	1.0	AEDNX
AEDFX	1.0	1.0	1.0	0.93	1.0	0.92	1.0		0.93	1.0	AEDFX
AGCAX	0.94	0.94	0.94	0.99	0.94	0.99	0.93	0.93		0.93	AGCAX
AGEAX	1.0	1.0	1.0	0.93	1.0	0.92	1.0	1.0	0.93		AGEAX
	ARBNX	ARBFX	ARBCX	ARCFX	ARGAX	ACFIX	AEDNX	AEDFX	AGCAX	AGEAX

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Risk-Adjusted Indicators

There is a big difference between Arbitrage Mutual Fund performing well and Arbitrage Fund 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 Arbitrage Fund'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ARBNX	0.10	0.03	(0.87)	0.57	(0.14)	0.29	(0.14)	0.59
ARBFX	0.10	0.03	(0.83)	0.51	(0.16)	0.30	(0.15)	0.61
ARBCX	0.09	0.03	(0.81)	0.57	(0.14)	0.25	(0.16)	0.67
ARCFX	0.06	0.00	(1.12)	0.25	(0.13)	0.20	(0.10)	0.41
ARGAX	0.10	0.03	(0.84)	0.58	(0.16)	0.30	(0.08)	0.69
ACFIX	0.06	0.01	(1.10)	0.31	(0.13)	0.20	(0.10)	0.41
AEDNX	0.09	0.04	(0.59)	0.68	(0.15)	0.25	(0.08)	0.74
AEDFX	0.10	0.04	(0.66)	0.56	(0.15)	0.33	(0.17)	0.67
AGCAX	0.06	0.01	(1.12)	0.33	(0.12)	0.10	(0.10)	0.41
AGEAX	0.10	0.04	(0.64)	0.58	(0.14)	0.25	(0.16)	0.67

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