Advent Claymore Correlations

AVK Fund

USD 12.35 0.01 0.08%

The current 90-days correlation between Advent Claymore Conv and Nuveen Real Asset is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Advent Claymore moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advent Claymore Convertible moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Advent Claymore Correlation With Market

Very poor diversification

The correlation between Advent Claymore Convertible and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible 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 Advent Claymore Convertible. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Advent Fund

0.9	CLM	Cornerstone Strategic	Pair Corr
0.91	CRF	Cornerstone Strategic	Pair Corr
0.96	ETV	Eaton Vance Tax	Pair Corr
0.93	DNP	Dnp Select Income	Pair Corr
0.93	ETJ	Eaton Vance Risk	Pair Corr
0.94	GAB	Gabelli Equity Trust	Pair Corr
0.99	ETY	Eaton Vance Tax	Pair Corr
0.99	ADX	Adams Diversified Equity	Pair Corr
0.89	GUT	Gabelli Utility Closed	Pair Corr
0.97	RIV	Rivernorth Opportunities	Pair Corr
0.94	PFCOX	Pfg American Funds	Pair Corr
0.99	ISNQX	Voya Solution 2050	Pair Corr
0.94	ACVIX	Small Cap Value	Pair Corr
0.99	JRSCX	Intech Managed Volatility	Pair Corr
0.98	VSIAX	Vanguard Small Cap	Pair Corr
0.99	VYGLX	Voya Global Multi	Pair Corr
0.99	FSSNX	Fidelity Small Cap	Pair Corr
0.99	VFINX	Vanguard 500 Index	Pair Corr
0.98	ASCQX	Small Pany Fund	Pair Corr
0.98	VILLX	Villere Balanced	Pair Corr
0.96	BMGKX	Blackrock Mid Cap	Pair Corr
0.99	RRTRX	T Rowe Price	Pair Corr
0.96	BHYAX	Blackrock High Yield	Pair Corr
0.97	LGLCX	Lord Abbett Growth	Pair Corr
0.97	HICSX	Harbor Vertible Secu	Pair Corr
0.98	FDEGX	Fidelity Growth Stra	Pair Corr
0.79	SCHAX	Qs Growth Fund	Pair Corr
0.82	PJEAX	Prudential Real Estate	Pair Corr
0.97	FGEMX	Fidelity Advisor Com	Pair Corr
0.93	ATCIX	Atac Inflation Rotation	Pair Corr
0.96	PHYQX	Prudential High Yield	Pair Corr
0.98	GMOZX	Gmo High Yield	Pair Corr
0.96	NADMX	Nationwide Investor	Pair Corr
0.96	BBGSX	Bridge Builder Smallmid	Pair Corr
0.99	VFIAX	Vanguard 500 Index	Pair Corr
0.98	IPIRX	Voya Global Perspectives	Pair Corr
0.99	TWQIX	Transamerica Large Cap	Pair Corr

Related Correlations Analysis

	JRI	GUG	KTF	GBAB	BLW	CHY	CHI	EHI	NCZ
JRI		0.89	-0.45	0.72	0.89	0.92	0.92	0.9	0.91	JRI
GUG	0.89		-0.31	0.49	0.97	0.91	0.87	0.78	0.93	GUG
KTF	-0.45	-0.31		-0.07	-0.34	-0.51	-0.35	-0.34	-0.51	KTF
GBAB	0.72	0.49	-0.07		0.48	0.52	0.62	0.73	0.46	GBAB
BLW	0.89	0.97	-0.34	0.48		0.89	0.87	0.74	0.93	BLW
CHY	0.92	0.91	-0.51	0.52	0.89		0.93	0.85	0.98	CHY
CHI	0.92	0.87	-0.35	0.62	0.87	0.93		0.85	0.91	CHI
EHI	0.9	0.78	-0.34	0.73	0.74	0.85	0.85		0.82	EHI
NCZ	0.91	0.93	-0.51	0.46	0.93	0.98	0.91	0.82		NCZ
	JRI	GUG	KTF	GBAB	BLW	CHY	CHI	EHI	NCZ

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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

NCZ	+ 0.98	CHY
BLW	+ 0.97	GUG
NCZ	+ 0.93	GUG
NCZ	+ 0.93	BLW
CHI	+ 0.93	CHY
CHY	+ 0.92	JRI

High negative correlations

NCZ	- 0.51	KTF
CHY	- 0.51	KTF
KTF	- 0.45	JRI
CHI	- 0.35	KTF
EHI	- 0.34	KTF
BLW	- 0.34	KTF

Risk-Adjusted Indicators

There is a big difference between Advent Fund performing well and Advent Claymore 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 Advent Claymore'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
JRI	0.77	0.05	(0.04)	0.33	1.17	(0.86)	1.73	(1.00)	6.71
GUG	0.72	0.10	(0.12)	(1.62)	1.05	(0.77)	1.52	(1.50)	5.85
KTF	0.47	(0.08)	0.00	0.71	0.00	0.00	0.78	(1.55)	2.91
GBAB	0.66	(0.02)	(0.17)	0.17	1.00	(0.68)	1.58	(1.29)	4.02
BLW	0.57	0.05	(0.13)	1.76	1.22	(0.59)	1.21	(0.93)	5.45
CHY	0.73	0.09	0.01	0.36	0.81	(0.83)	1.73	(1.41)	9.29
CHI	0.87	0.07	0.01	0.33	0.94	(0.92)	2.06	(2.02)	10.35
EHI	0.49	0.00	(0.20)	0.22	0.71	(0.52)	0.94	(0.94)	4.62
NCZ	0.82	0.15	0.08	0.43	0.84	(0.98)	1.65	(1.10)	11.35

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