RiverNorth Managed Correlations

RMM Etf

USD 13.89 0.08 0.57%

The current 90-days correlation between RiverNorth Managed and RiverNorth Managed Duration is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as RiverNorth Managed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RiverNorth Managed Duration moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

RiverNorth Managed Correlation With Market

Modest diversification

The correlation between RiverNorth Managed Duration and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RiverNorth Managed Duration and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with RiverNorth Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in RiverNorth Managed Duration. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with RiverNorth Etf

0.73	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.67	BN	Brookfield Corp	Pair Corr
0.68	BX	Blackstone Group Normal Trading	Pair Corr
0.64	DX	Dynex Capital Earnings Call This Week	Pair Corr
0.62	MC	Moelis Earnings Call This Week	Pair Corr
0.65	QD	Qudian Inc	Pair Corr
0.64	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.61	VINP	Vinci Partners Inves	Pair Corr
0.61	VRTS	Virtus Investment Earnings Call This Week	Pair Corr

Moving against RiverNorth Etf

0.5	ANSCW	Agriculture Natural	Pair Corr
0.36	EZPW	EZCORP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.57	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.59	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.54	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.73	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.16	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.63	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.08	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.68	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.56	MRK
XOM	0.57	0.59	0.54	0.73	0.16	0.63	-0.08	0.68	0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.08	CRM

RiverNorth Managed Competition Risk-Adjusted Indicators

There is a big difference between RiverNorth Etf performing well and RiverNorth Managed ETF 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 RiverNorth Managed'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
META	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.08	0.14	0.00	(9.00)	1.19	(1.12)	2.40	(2.51)	5.84

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