Aqr Small Correlations

Mutual Funds . USA . 
Fund . Aqr Small Cap
QSERX Fund  USD 16.71  0.15  0.89%   
The current 90-days correlation between Aqr Small Cap and Putnam Global Financials is -0.2 (i.e., Good diversification). The correlation of Aqr Small 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.

Aqr Small Correlation With Market

Almost no diversification

The correlation between Aqr Small Cap and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aqr Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Aqr Small Cap. 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 metropolitan statistical area.

Moving together with Aqr Mutual Fund

  0.92AMONX Aqr Large CapPairCorr
  0.67QTERX Aqr Tm EmergingPairCorr
  0.98VSMAX Vanguard Small CapPairCorr
  0.98VSCIX Vanguard Small CapPairCorr
  0.98VSCPX Vanguard Small CapPairCorr
  0.98NAESX Vanguard Small CapPairCorr
  0.97FSSNX Fidelity Small CapPairCorr
  0.98DFSTX Us Small CapPairCorr
  0.96PASVX T Rowe PricePairCorr
  0.96PRVIX T Rowe PricePairCorr
  0.96TRZVX T Rowe PricePairCorr
  0.88PRSVX T Rowe PricePairCorr
  0.89VSTSX Vanguard Total StockPairCorr
  0.89VSMPX Vanguard Total StockPairCorr
  0.97VITSX Vanguard Total StockPairCorr
  0.89VFFSX Vanguard 500 IndexPairCorr
  0.89VFIAX Vanguard 500 IndexPairCorr
  0.97VINIX Vanguard InstitutionalPairCorr
  0.89VTSAX Vanguard Total StockPairCorr

Moving against Aqr Mutual Fund

  0.37QDARX Aqr Diversified ArbitragePairCorr
  0.59HUBAX Hartford Ultrashort BondPairCorr
  0.55MASNX Litman Gregory MastersPairCorr
  0.49FPPQX Mfs Prudent InvestorPairCorr
  0.48CUSOX Columbia Ultra ShortPairCorr
  0.39PAIPX Pimco Short AssetPairCorr
  0.39PAIQX Pimco Short AssetPairCorr
  0.39PAMSX Pimco Short AssetPairCorr

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   
FIKBX
+ 0.99
PSSRX
PSSRX
+ 0.97
SBFAX
BTO
+ 0.97
PSSRX
BTO
+ 0.97
FIKBX
DVFYX
+ 0.96
PGFMX
FIKBX
+ 0.96
SBFAX
  
High negative correlations   
XFINX
- 0.0
SBFAX

Risk-Adjusted Indicators

There is a big difference between Aqr Mutual Fund performing well and Aqr Small 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 Aqr Small'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.

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