Easterly Snow Correlations

Mutual Funds . USA . 
Fund . Easterly Snow Longshort
SNORX Fund  USD 34.47  0.09  0.26%   
The current 90-days correlation between Easterly Snow Longshort and Rational Dividend Capture is 0.64 (i.e., Poor diversification). The correlation of Easterly Snow 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.

Easterly Snow Correlation With Market

Poor diversification

The correlation between Easterly Snow Longshort and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Easterly Snow Longshort 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 Easterly Snow Longshort. 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 Easterly Mutual Fund

  0.96SNWRX Easterly Snow SmallPairCorr
  0.98JHQCX Jpmorgan Hedged EquityPairCorr
  0.98JHEQX Jpmorgan Hedged EquityPairCorr
  0.98JHQAX Jpmorgan Hedged EquityPairCorr
  0.98GTENX Gateway Fund ClassPairCorr
  0.98GTECX Gateway Fund ClassPairCorr
  0.98GTEYX Gateway Fund ClassPairCorr
  0.98GATEX Gateway Fund ClassPairCorr
  0.97JHDCX Jpmorgan Hedged EquityPairCorr
  0.97JHDRX Jpmorgan Hedged EquityPairCorr
  0.97JHDAX Jpmorgan Hedged EquityPairCorr
  0.93PDI Pimco Dynamic IncomePairCorr
  0.94FTCAX Templeton Strained BondPairCorr
  0.98BRGNX Blckrck Fdsiii RssllPairCorr
  0.94FSRFX Transportation Portfolio Potential GrowthPairCorr
  0.77AHMFX American High IncomePairCorr
  0.73RCBGX American Funds PoratePairCorr
  0.79GLPSX Goldman Sachs MlpPairCorr
  0.95SEDAX Siit Emerging MarketsPairCorr
  0.97RYRSX Russell 2000 2xPairCorr
  0.7PTRQX Prudential Total ReturnPairCorr
  0.98FEYIX Fidelity Asset ManagerPairCorr
  0.97PPUMX Largecap GrowthPairCorr
  0.98URINX Target Retirement IncomePairCorr
  0.97RPELX T Rowe PricePairCorr
  0.97CICEX Investment Of AmericaPairCorr
  0.97VINEX Vanguard InternationalPairCorr
  0.93RPNIX Riverpark/next CenturyPairCorr
  0.97ASPGX Astor Star FundPairCorr
  0.77MAHQX Blackrock Total RetPairCorr
  0.89RSFYX Victory Floating RatePairCorr

Moving against Easterly Mutual Fund

  0.97USPSX Profunds UltrashortPairCorr
  0.83TCTGX Transamerica CleartrackPairCorr
  0.82TDKTX Cleartrack 2015 ClassPairCorr
  0.82TCTJX Transamerica CleartrackPairCorr
  0.8TCSUX Cleartrack 2020 ClassPairCorr
  0.73RMHIX Easterly Rocmuni HighPairCorr
  0.97USPIX Profunds UltrashortPairCorr
  0.96UIPIX Ultrashort Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Easterly Mutual Fund performing well and Easterly Snow 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 Easterly Snow'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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