Gotham Enhanced Correlations

Mutual Funds . USA . 
Fund . Gotham Enhanced Sp
GSPFX Fund  USD 18.87  0.02  0.11%   
The current 90-days correlation between Gotham Enhanced Sp and Gotham Hedged E is -0.02 (i.e., Good diversification). The correlation of Gotham Enhanced 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.

Gotham Enhanced Correlation With Market

Almost no diversification

The correlation between Gotham Enhanced Sp and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Enhanced Sp and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gotham Enhanced Sp. 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 census.

Moving together with Gotham Mutual Fund

  0.73GCHDX Gotham Hedged EPairCorr
  0.73GDLFX Gotham Defensive LongPairCorr
  0.7GVALX Gotham Large ValuePairCorr
  0.7GEFPX Gotham Enhanced 500PairCorr
  0.72GENIX Gotham Enhanced ReturnPairCorr
  0.69GINDX Gotham Index PlusPairCorr
  0.69GNNDX Gotham Index PlusPairCorr
  0.88GONIX Gotham NeutralPairCorr
  0.98GARIX Gotham Absolute ReturnPairCorr
  0.99GTRFX Gotham Total ReturnPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  1.0VIIIX Vanguard InstitutionalPairCorr
  0.98SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.98SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.71OSPPX Oppenheimer Steelpath MlpPairCorr
  0.71MLPNX Oppenheimer Steelpath MlpPairCorr
  0.69MLPLX Oppenheimer Steelpath MlpPairCorr
  0.85EMO Clearbridge Energy MlpPairCorr
  0.97RSNYX Victory Global NaturalPairCorr
  0.97RSNRX Victory Global NaturalPairCorr
  0.7SPMPX Invesco Steelpath MlpPairCorr
  0.68MLPMX Oppenheimer Steelpath MlpPairCorr
  0.69RIDBX Income FundPairCorr
  0.95MPSTX Bny Mellon NationalPairCorr
  0.69NSDMX Nationwide InvestorPairCorr
  0.95GIUIX Guggenheim StyleplusPairCorr
  0.69NTDIX Nationwide DestinationPairCorr
  0.68BXIAX Barings Global CreditPairCorr
  0.96SMVLX Smead Value Fund Potential GrowthPairCorr
  0.66JUECX Jpmorgan EquityPairCorr

Moving against Gotham Mutual Fund

  0.88VSPIX Victory Special ValuePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Gotham Mutual Fund performing well and Gotham Enhanced 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 Gotham Enhanced'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
GCHDX  0.47  0.18  0.10 (59.36) 0.00 
(0.60)
 1.15 
(0.79)
 3.74 
GDLFX  0.50  0.16  0.04 (3.15) 0.10 
(0.63)
 1.25 
(0.82)
 3.71 
GVALX  0.61  0.16  0.03 (6.83) 0.49 
(0.73)
 1.36 
(0.97)
 4.82 
GEFPX  0.58  0.24  0.17  11.90  0.00 
(0.71)
 1.38 
(0.88)
 5.22 
GENIX  0.58  0.29  0.28  31.90  0.00 
(0.73)
 1.67 
(0.59)
 5.08 
GINDX  0.58  0.27  0.23  9.56  0.00 
(0.73)
 1.58 
(0.86)
 5.46 
GNNDX  0.58  0.27  0.24  8.97  0.00 
(0.73)
 1.59 
(0.86)
 5.42 
GONIX  0.23  0.03 (0.26) 0.32  0.00 
(0.28)
 0.56 
(0.34)
 1.79 
GARIX  0.42  0.10  0.08  0.32  0.00 
(0.51)
 1.21 
(0.71)
 3.07 
GSPFX  0.64  0.08  0.08  0.22  0.59 
(0.74)
 1.83 
(1.15)
 5.23 

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