Cornerstone Strategic Correlations
| CRF Fund | USD 7.57 0.05 0.66% |
The correlation of Cornerstone Strategic 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cornerstone Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cornerstone Strategic Return moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Cornerstone Strategic Return and NYA is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cornerstone Strategic Return and NYA in the same portfolio, assuming nothing else is changed.
Cornerstone |
The ability to find closely correlated positions to Cornerstone Strategic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cornerstone Strategic when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Cornerstone Strategic - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Cornerstone Strategic Return to buy it.
Moving together with Cornerstone Fund
| 0.64 | DNP | Dnp Select Income | PairCorr |
| 0.69 | TDF | Templeton Dragon Closed | PairCorr |
| 0.71 | HTY | John Hancock Tax | PairCorr |
| 0.9 | PEO | Adams Natural Resources | PairCorr |
| 0.86 | VVR | Invesco Senior Income | PairCorr |
| 0.64 | STFGX | State Farm Growth | PairCorr |
| 0.64 | VFINX | Vanguard 500 Index | PairCorr |
| 0.68 | STFBX | State Farm Balanced | PairCorr |
| 0.82 | PDI | Pimco Dynamic Income | PairCorr |
| 0.65 | VFIAX | Vanguard 500 Index | PairCorr |
| 0.86 | MMM | 3M Company Financial Report 23rd of July 2024 | PairCorr |
| 0.8 | CAT | Caterpillar Financial Report 6th of August 2024 | PairCorr |
| 0.83 | JPM | JPMorgan Chase Financial Report 12th of July 2024 | PairCorr |
| 0.86 | DD | Dupont De Nemours Report 7th of May 2024 | PairCorr |
Moving against Cornerstone Fund
| 0.77 | MCD | McDonalds Financial Report 25th of July 2024 | PairCorr |
| 0.74 | BA | Boeing Financial Report 24th of July 2024 | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Cornerstone Fund performing well and Cornerstone Strategic 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 Cornerstone Strategic'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| JHS | 0.41 | (0.02) | (0.09) | 0.03 | 0.54 | 0.93 | 3.08 | |||
| CXE | 0.46 | (0.01) | (0.07) | 0.03 | 0.58 | 0.86 | 3.07 | |||
| CXH | 0.36 | (0.02) | (0.12) | 0.00 | 0.46 | 0.67 | 2.28 | |||
| CBH | 0.26 | 0.02 | (0.10) | 0.15 | 0.27 | 0.58 | 1.49 | |||
| EOT | 0.35 | (0.05) | 0.00 | (0.08) | 0.00 | 0.78 | 1.94 | |||
| IHTA | 0.34 | 0.04 | (0.02) | 0.20 | 0.48 | 0.80 | 3.46 | |||
| MFM | 0.49 | (0.04) | 0.00 | (0.06) | 0.00 | 0.96 | 2.90 | |||
| DTF | 0.32 | 0.00 | (0.14) | 0.07 | 0.32 | 0.85 | 1.93 | |||
| MQY | 0.39 | (0.04) | 0.00 | (0.04) | 0.00 | 0.67 | 2.65 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Cornerstone Strategic without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Alpha FinderUse alpha and beta coefficients to find investment opportunities after accounting for the risk |
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Already Invested in Cornerstone Strategic Return?
The danger of trading Cornerstone Strategic Return is mainly related to its market volatility and Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Cornerstone Strategic is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Cornerstone Strategic. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Cornerstone Strategic is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cornerstone Strategic Return. Also, note that the market value of any fund could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.