Counterpoint Tactical Correlations

TMNCX Fund

USD 10.19 0.01 0.1%

The current 90-days correlation between Counterpoint Tactical and Counterpoint Tactical Municipal is 0.57 (i.e., Very weak diversification). The correlation of Counterpoint Tactical 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.

Counterpoint Tactical Correlation With Market

Very good diversification

The correlation between Counterpoint Tactical Municipa and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Counterpoint Tactical Municipa 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 Counterpoint Tactical Municipal. 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 main economic indicators.

Moving together with Counterpoint Mutual Fund

0.84	TMNIX	Counterpoint Tactical	Pair Corr
0.79	TMNAX	Counterpoint Tactical	Pair Corr

Moving against Counterpoint Mutual Fund

0.68	CPATX	Counterpoint Tactical	Pair Corr
0.68	CPCTX	Counterpoint Tactical	Pair Corr
0.67	CPITX	Counterpoint Tactical	Pair Corr
0.67	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.67	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.63	TNVDX	1290 Doubleline Dynamic	Pair Corr
0.61	RSNYX	Victory Global Natural	Pair Corr
0.6	RSNRX	Victory Global Natural	Pair Corr
0.6	LSYFX	Lord Abbett Short	Pair Corr
0.58	JYHRX	Jpmorgan High Yield	Pair Corr
0.56	MMEAX	Victory Integrity	Pair Corr
0.55	VFIAX	Vanguard 500 Index	Pair Corr
0.55	TDF	Templeton Dragon Closed	Pair Corr
0.55	USPRX	Sp 500 Index	Pair Corr
0.52	EMO	Clearbridge Energy Mlp	Pair Corr
0.52	FGBRX	Templeton Global Bond	Pair Corr
0.5	VTIAX	Vanguard Total Inter	Pair Corr
0.49	KDHSX	Deutsche Croci Equity	Pair Corr
0.44	BGEUX	Baillie Gifford Eafe Steady Growth	Pair Corr
0.41	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.41	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.41	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.32	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	TMNIX	TMNCX	TMNAX	CPATX	CPAEX	CPCTX	CPCEX	CPIEX	CPITX
TMNIX		0.84	0.77	-0.32	0.21	-0.32	0.23	0.21	-0.31	TMNIX
TMNCX	0.84		0.79	-0.68	0.38	-0.68	0.41	0.38	-0.67	TMNCX
TMNAX	0.77	0.79		-0.35	0.29	-0.33	0.3	0.29	-0.34	TMNAX
CPATX	-0.32	-0.68	-0.35		-0.59	1.0	-0.64	-0.59	1.0	CPATX
CPAEX	0.21	0.38	0.29	-0.59		-0.58	1.0	1.0	-0.59	CPAEX
CPCTX	-0.32	-0.68	-0.33	1.0	-0.58		-0.62	-0.57	1.0	CPCTX
CPCEX	0.23	0.41	0.3	-0.64	1.0	-0.62		1.0	-0.63	CPCEX
CPIEX	0.21	0.38	0.29	-0.59	1.0	-0.57	1.0		-0.58	CPIEX
CPITX	-0.31	-0.67	-0.34	1.0	-0.59	1.0	-0.63	-0.58		CPITX
	TMNIX	TMNCX	TMNAX	CPATX	CPAEX	CPCTX	CPCEX	CPIEX	CPITX

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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

CPCTX	+ 1.0	CPATX
CPITX	+ 1.0	CPATX
CPCEX	+ 1.0	CPAEX
CPIEX	+ 1.0	CPAEX
CPITX	+ 1.0	CPCTX
CPIEX	+ 1.0	CPCEX

High negative correlations

CPCTX	- 0.68	TMNCX
CPATX	- 0.68	TMNCX
CPITX	- 0.67	TMNCX
CPCEX	- 0.64	CPATX
CPITX	- 0.63	CPCEX
CPCEX	- 0.62	CPCTX

Risk-Adjusted Indicators

There is a big difference between Counterpoint Mutual Fund performing well and Counterpoint Tactical 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 Counterpoint Tactical'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TMNIX	0.04	(0.01)	0.00	0.84	0.00	0.10	(0.10)	0.19
TMNCX	0.04	(0.02)	0.00	1.28	0.00	0.10	(0.10)	0.20
TMNAX	0.03	(0.01)	0.00	(7.63)	0.00	0.10	(0.10)	0.19
CPATX	0.14	0.03	(0.36)	0.41	(0.19)	0.27	(0.27)	1.37
CPAEX	0.43	(0.03)	0.00	(0.53)	0.00	0.90	(0.76)	2.70
CPCTX	0.14	0.02	(0.42)	0.34	(0.18)	0.28	(0.27)	1.28
CPCEX	0.42	(0.03)	0.00	(0.69)	0.00	0.92	(0.77)	2.71
CPIEX	0.43	(0.03)	0.00	(0.52)	0.00	0.88	(0.78)	2.64
CPITX	0.15	0.03	(0.41)	0.39	(0.20)	0.28	(0.27)	1.28

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