Counterpoint Tactical Correlations

CPAEX Fund

USD 22.25 0.02 0.09%

The current 90-days correlation between Counterpoint Tactical and Counterpoint Tactical Municipal is 0.19 (i.e., Average diversification). The correlation of Counterpoint Tactical 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.

Counterpoint Tactical Correlation With Market

Significant diversification

The correlation between Counterpoint Tactical Equity and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Counterpoint Tactical Equity 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 Counterpoint Tactical Equity. 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 income.

Moving together with Counterpoint Mutual Fund

1.0	CPCEX	Counterpoint Tactical	Pair Corr
1.0	CPIEX	Counterpoint Tactical	Pair Corr
0.77	PWLIX	Pimco Rae Worldwide	Pair Corr
0.76	PWLMX	Pimco Rae Worldwide	Pair Corr

Moving against Counterpoint Mutual Fund

0.64	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.6	DHLSX	Diamond Hill Long	Pair Corr
0.6	DIAYX	Diamond Hill Long	Pair Corr
0.6	DIAMX	Diamond Hill Long	Pair Corr
0.59	CPATX	Counterpoint Tactical	Pair Corr
0.59	CPITX	Counterpoint Tactical	Pair Corr
0.58	CPCTX	Counterpoint Tactical	Pair Corr
0.56	ASLAX	Ab Select Longshort	Pair Corr
0.52	QLERX	Aqr Long Short	Pair Corr
0.49	NLSAX	Neuberger Berman Long	Pair Corr
0.49	NLSIX	Neuberger Berman Long	Pair Corr
0.48	NLSCX	Neuberger Berman Long	Pair Corr
0.66	RSNRX	Victory Global Natural	Pair Corr
0.66	GRHAX	Goehring Rozencwajg	Pair Corr
0.65	RSNYX	Victory Global Natural	Pair Corr
0.64	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.64	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	NEAIX	Needham Aggressive Growth	Pair Corr
0.62	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.62	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.62	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.61	POGCX	Putnam Growth Opport	Pair Corr
0.59	PSPFX	Global Resources	Pair Corr
0.57	TWMIX	Emerging Markets	Pair Corr
0.54	GSHTX	Goldman Sachs High	Pair Corr
0.52	PEMGX	Midcap Fund Class	Pair Corr
0.51	EMO	Clearbridge Energy Mlp	Pair Corr
0.47	BTFRX	Bts Tactical Fixed	Pair Corr

Related Correlations Analysis

	TMNIX	TMNCX	TMNAX	CPATX	CPAEX	CPCTX	CPCEX	CPIEX	CPITX
TMNIX		0.83	0.77	-0.32	0.2	-0.32	0.22	0.2	-0.31	TMNIX
TMNCX	0.83		0.79	-0.69	0.38	-0.68	0.42	0.38	-0.68	TMNCX
TMNAX	0.77	0.79		-0.35	0.29	-0.33	0.3	0.29	-0.34	TMNAX
CPATX	-0.32	-0.69	-0.35		-0.59	1.0	-0.64	-0.59	1.0	CPATX
CPAEX	0.2	0.38	0.29	-0.59		-0.58	1.0	1.0	-0.59	CPAEX
CPCTX	-0.32	-0.68	-0.33	1.0	-0.58		-0.62	-0.57	1.0	CPCTX
CPCEX	0.22	0.42	0.3	-0.64	1.0	-0.62		1.0	-0.63	CPCEX
CPIEX	0.2	0.38	0.29	-0.59	1.0	-0.57	1.0		-0.58	CPIEX
CPITX	-0.31	-0.68	-0.34	1.0	-0.59	1.0	-0.63	-0.58		CPITX
	TMNIX	TMNCX	TMNAX	CPATX	CPAEX	CPCTX	CPCEX	CPIEX	CPITX

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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

CPCTX	+ 1.0	CPATX
CPITX	+ 1.0	CPATX
CPCEX	+ 1.0	CPAEX
CPIEX	+ 1.0	CPAEX
CPITX	+ 1.0	CPCTX
CPIEX	+ 1.0	CPCEX

High negative correlations

CPATX	- 0.69	TMNCX
CPITX	- 0.68	TMNCX
CPCTX	- 0.68	TMNCX
CPCEX	- 0.64	CPATX
CPITX	- 0.63	CPCEX
CPCEX	- 0.62	CPCTX

Risk-Adjusted Indicators

There is a big difference between Counterpoint Mutual Fund performing well and Counterpoint Tactical 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 Counterpoint Tactical'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
TMNIX	0.04	(0.01)	0.00	0.72	0.00	0.10	(0.10)	0.19
TMNCX	0.04	(0.02)	0.00	1.11	0.00	0.10	(0.10)	0.20
TMNAX	0.03	(0.01)	0.00	(7.63)	0.00	0.10	(0.10)	0.19
CPATX	0.14	0.03	(0.36)	0.41	(0.19)	0.27	(0.27)	1.37
CPAEX	0.43	(0.03)	0.00	(0.53)	0.00	0.90	(0.76)	2.70
CPCTX	0.14	0.02	(0.42)	0.34	(0.18)	0.28	(0.27)	1.28
CPCEX	0.42	(0.03)	0.00	(0.69)	0.00	0.92	(0.77)	2.71
CPIEX	0.43	(0.03)	0.00	(0.52)	0.00	0.88	(0.78)	2.64
CPITX	0.15	0.03	(0.41)	0.39	(0.20)	0.28	(0.27)	1.28

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