Forty Portfolio Correlations

The correlation of Forty Portfolio 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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Forty Mutual Fund

0.77	RYVLX	Nasdaq 100 2x	Pair Corr
0.77	RYVYX	Nasdaq 100 2x	Pair Corr
0.77	UOPIX	Ultra Nasdaq 100	Pair Corr
0.77	RYCCX	Nasdaq 100 2x	Pair Corr
0.76	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.63	GPICX	Guidepath Conservative	Pair Corr
0.67	IBM	International Business	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.8	GE	GE Aerospace	Pair Corr
0.73	INTC	Intel Aggressive Push	Pair Corr

Related Correlations Analysis

	VAADX	NCV	PBXIX	ARBOX	GCV	NCIDX
VAADX		0.94	0.2	0.9	0.94	0.98	VAADX
NCV	0.94		0.23	0.83	0.89	0.92	NCV
PBXIX	0.2	0.23		-0.09	0.18	0.27	PBXIX
ARBOX	0.9	0.83	-0.09		0.81	0.81	ARBOX
GCV	0.94	0.89	0.18	0.81		0.96	GCV
NCIDX	0.98	0.92	0.27	0.81	0.96		NCIDX
	VAADX	NCV	PBXIX	ARBOX	GCV	NCIDX

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

NCIDX	+ 0.98	VAADX
NCIDX	+ 0.96	GCV
NCV	+ 0.94	VAADX
GCV	+ 0.94	VAADX
NCIDX	+ 0.92	NCV
ARBOX	+ 0.9	VAADX

High negative correlations

ARBOX

- 0.09

PBXIX

Risk-Adjusted Indicators

There is a big difference between Forty Mutual Fund performing well and Forty Portfolio 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 Forty Portfolio'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
VAADX	0.65	0.05	0.05	0.08	0.86	(0.67)	1.16	(1.71)	4.60
NCV	0.65	0.06	0.06	0.10	0.81	(0.63)	1.16	(1.46)	3.39
PBXIX	0.35	(0.04)	0.00	(0.06)	0.00	0.00	0.64	(0.73)	2.25
ARBOX	0.06	0.02	0.03	0.50	0.00	(0.10)	0.17	(0.08)	0.34
GCV	0.79	0.07	0.05	0.24	0.94	(0.85)	1.49	(1.71)	4.54
NCIDX	0.65	0.02	0.02	0.04	0.94	(0.61)	1.13	(1.79)	4.80

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