Fpa New Correlations

Mutual Funds . USA . 
Fund . Fpa New Income
FPNIX Fund  USD 9.98  0.02  0.20%   
The current 90-days correlation between Fpa New Income and Pimco Corporate Income is 0.1 (i.e., Average diversification). The correlation of Fpa New 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.

Fpa New Correlation With Market

Good diversification

The correlation between Fpa New Income and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fpa New Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fpa New Income. 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 gross domestic product.

Moving together with Fpa Mutual Fund

  0.63PTY Pimco Corporate IncomePairCorr
  0.99FFIAX Fpa Flexible FixedPairCorr
  0.69QRSAX Fpa Queens RoadPairCorr
  0.69QRSIX Fpa Queens RoadPairCorr
  0.69QRSVX Queens Road SmallPairCorr
  0.76QRVLX Queens Road ValuePairCorr
  0.75FPACX Fpa CrescentPairCorr
  0.75FPCSX Fpa CrescentPairCorr
  0.99FPFIX Fpa Flexible FixedPairCorr
  0.75FPFRX Fpa CrescentPairCorr
  1.0FPNRX Fpa New IncomePairCorr
  0.87VBIRX Vanguard Short TermPairCorr
  0.86VFSUX Vanguard Short TermPairCorr
  0.93VFSIX Vanguard Short TermPairCorr
  0.93VFSTX Vanguard Short TermPairCorr
  0.97VBITX Vanguard Short TermPairCorr
  0.97VBISX Vanguard Short TermPairCorr
  0.85LALDX Lord Abbett ShortPairCorr
  0.95VSCSX Vanguard Short TermPairCorr
  0.91LDLAX Lord Abbett ShortPairCorr
  0.87LDLRX Lord Abbett ShortPairCorr
  0.73VTSAX Vanguard Total StockPairCorr
  0.73VFIAX Vanguard 500 IndexPairCorr
  0.73VTSMX Vanguard Total StockPairCorr
  0.73VSMPX Vanguard Total StockPairCorr
  0.73VSTSX Vanguard Total StockPairCorr
  0.73VITSX Vanguard Total StockPairCorr
  0.73VFINX Vanguard 500 IndexPairCorr
  0.73VFFSX Vanguard 500 IndexPairCorr
  0.74VGTSX Vanguard Total InterPairCorr
  0.74VTIAX Vanguard Total InterPairCorr
  0.99OSTCX Jpmorgan Short DurationPairCorr
  0.75TEPSX Technology UltrasectorPairCorr
  0.74ARDRX One Choice 2040PairCorr
  0.94DCFFX Destinations Core FixedPairCorr
  0.86TGWIX Tcw Emerging MarketsPairCorr
  0.79CIRFX Capital Income BuilderPairCorr
  0.93STHAX Ab Sustainable ThematicPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fpa Mutual Fund performing well and Fpa New 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 Fpa New'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PTY  0.33  0.09 (0.02) 0.49  0.00 
(0.44)
 1.03 
(0.51)
 2.61 
FFIAX  0.15  0.02 (0.54)(3.78) 0.04 
(0.18)
 0.30 
(0.29)
 0.79 
QRSAX  0.77  0.13  0.14  0.28  0.56 
(0.95)
 2.02 
(1.39)
 5.38 
QRSIX  0.76  0.13  0.14  0.28  0.55 
(0.92)
 2.02 
(1.38)
 5.34 
QRSVX  0.76  0.13  0.14  0.28  0.56 
(0.90)
 2.02 
(1.40)
 5.36 
QRVLX  0.68  0.03  0.02  0.17  0.62 
(0.75)
 1.40 
(1.05)
 4.42 
FPACX  0.39  0.11  0.08  0.36  0.00 
(0.49)
 1.18 
(0.75)
 2.78 
FPCSX  0.38  0.11  0.08  0.36  0.00 
(0.44)
 1.15 
(0.73)
 2.80 
FPFIX  0.14  0.02 (0.56) 1.63  0.00 
(0.19)
 0.30 
(0.20)
 0.79 
FPFRX  0.38  0.11  0.08  0.36  0.00 
(0.47)
 1.18 
(0.75)
 2.78 

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