Qs Defensive Correlations

Mutual Funds . USA . 
Fund . Qs Defensive Growth
SBCPX Fund  USD 13.37  0.03  0.22%   
The current 90-days correlation between Qs Defensive Growth and Franklin Mutual Beacon is 0.83 (i.e., Very poor diversification). The correlation of Qs Defensive 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.

Qs Defensive Correlation With Market

Good diversification

The correlation between Qs Defensive Growth and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qs Defensive Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Qs Defensive Growth. 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 american community survey.

Moving together with SBCPX Mutual Fund

  0.99TEBIX Franklin Mutual BeaconPairCorr
  0.98TEDMX Templeton DevelopingPairCorr
  0.99TEDIX Franklin Mutual GlobalPairCorr
  0.99TEDSX Franklin Mutual GlobalPairCorr
  0.98TEDRX Franklin Mutual GlobalPairCorr
  0.97TEFRX Templeton ForeignPairCorr
  0.98TEFTX Templeton ForeignPairCorr
  0.93TEGBX Templeton Global BondPairCorr
  0.98TEGRX Templeton GrowthPairCorr
  0.98TEMFX Templeton ForeignPairCorr
  0.98TEMGX Templeton Global SmallerPairCorr
  0.99TEMEX Franklin Mutual BeaconPairCorr
  0.98TEMMX Templeton EmergingPairCorr
  0.97TEMIX Franklin Mutual EuropeanPairCorr
  0.99TEMWX Templeton WorldPairCorr
  0.99TEMTX Franklin Mutual SharesPairCorr
  0.97TEMQX Mutual QuestPairCorr
  0.98SAIFX Clearbridge Large CapPairCorr
  0.98SAGYX Clearbridge AggressivePairCorr
  0.98TEMZX Templeton EmergingPairCorr
  0.99TEPLX Templeton GrowthPairCorr
  0.98TWDAX Templeton WorldPairCorr
  0.99TESIX Franklin Mutual SharesPairCorr
  0.99TESRX Franklin Mutual SharesPairCorr
  0.94LGGAX Clearbridge InternationalPairCorr
  0.96TEURX Franklin Mutual EuropeanPairCorr
  0.99TEWTX Templeton WorldPairCorr
  0.98SAPYX Clearbridge AppreciationPairCorr
  0.61FQNCX Franklin North CarolinaPairCorr
  0.92WAADX Western Asset SmashPairCorr
  0.86WAARX Western Asset TotalPairCorr
  0.73WACPX Western Asset EPairCorr
  0.75WABAX Western Asset EPairCorr
  0.97LGVAX Clearbridge Value TrustPairCorr
  0.98TFEQX International EquityPairCorr
  0.79WAFAX Western Asset InflationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between SBCPX Mutual Fund performing well and Qs Defensive 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 Qs Defensive'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
TEBIX  0.57  0.20  0.08 (2.03) 0.43 
(0.63)
 1.43 
(1.12)
 3.58 
TEDMX  0.59  0.31  0.25 (21.71) 0.00 
(0.75)
 1.58 
(1.27)
 4.48 
TEDIX  0.51  0.18  0.05 (2.16) 0.46 
(0.54)
 1.12 
(1.33)
 3.32 
TEDSX  0.51  0.18  0.05 (1.98) 0.46 
(0.54)
 1.15 
(1.32)
 3.37 
TEDRX  0.51  0.07  0.02  0.24  0.51 
(0.53)
 1.12 
(1.33)
 3.36 
TEFRX  0.66  0.14  0.11  0.37  0.46 
(0.82)
 1.76 
(1.39)
 4.25 
TEFTX  0.66  0.25  0.13 (2.34) 0.45 
(0.83)
 1.71 
(1.35)
 4.24 
TEGBX  0.34  0.08 (0.11) 4.98  0.16 
(0.47)
 0.88 
(0.43)
 2.11 
TEGRX  0.54  0.16  0.16  0.35  0.25 
(0.62)
 1.83 
(1.01)
 3.53 
TEMFX  0.67  0.25  0.14 (2.22) 0.41 
(0.81)
 1.72 
(1.35)
 4.14 

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