1290 Gamco Correlations

TNVIX Fund

USD 17.90 0.27 1.53%

The current 90-days correlation between 1290 Gamco Smallmid and 1290 Smartbeta Equity is 0.86 (i.e., Very poor diversification). The correlation of 1290 Gamco 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.

1290 Gamco Correlation With Market

Good diversification

The correlation between 1290 Gamco Smallmid and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 Gamco Smallmid 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 1290 Gamco Smallmid. 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 gross domestic product.

Moving together with 1290 Mutual Fund

0.92	ESCKX	1290 Funds	Pair Corr
0.92	ESCJX	1290 Essex Small	Pair Corr
0.92	ESCFX	1290 Funds	Pair Corr
0.95	TNBIX	1290 Smartbeta Equity	Pair Corr
0.91	TNBRX	1290 Smartbeta Equity	Pair Corr
0.95	TNBAX	1290 Smartbeta Equity	Pair Corr
0.95	TNHAX	1290 High Yield	Pair Corr
0.94	TNHIX	1290 High Yield	Pair Corr
0.94	TNHRX	1290 High Yield	Pair Corr
0.93	TNMAX	1290 Multi Alternative	Pair Corr
0.93	TNMIX	1290 Multi Alternative	Pair Corr
0.87	TNMRX	1290 Multi Alternative	Pair Corr
0.86	TNLIX	1290 Retirement 2035	Pair Corr
0.97	TNRAX	1290 Funds	Pair Corr
0.82	TNURX	1290 Unconstrained Bond	Pair Corr
0.93	TNVDX	1290 Doubleline Dynamic	Pair Corr
1.0	TNVAX	1290 Gamco Smallmid	Pair Corr
0.79	TNUAX	1290 Unconstrained Bond	Pair Corr
0.83	TNUIX	1290 Unconstrained Bond	Pair Corr
0.92	TNXAX	1290 Doubleline Dynamic	Pair Corr
0.97	TNXIX	1290 Retirement 2060	Pair Corr
1.0	TNVRX	1290 Gamco Smallmid	Pair Corr
0.95	TNYRX	1290 Doubleline Dynamic	Pair Corr
0.99	VSIIX	Vanguard Small Cap	Pair Corr
0.92	VISVX	Vanguard Small Cap	Pair Corr
0.93	DFSVX	Us Small Cap	Pair Corr
0.93	DFFVX	Us Targeted Value	Pair Corr
0.97	UBVCX	Undiscovered Managers	Pair Corr
0.97	UBVAX	Undiscovered Managers	Pair Corr
0.97	UBVSX	Undiscovered Managers	Pair Corr
0.99	AVFIX	American Beacon Small	Pair Corr
0.89	CPAYX	Columbia Pacific/asia	Pair Corr

Moving against 1290 Mutual Fund

0.64	TNKIX	1290 Retirement 2030	Pair Corr
0.64	TNOIX	1290 Retirement 2045	Pair Corr
0.62	TNQIX	1290 Retirement 2055	Pair Corr
0.6	TNIIX	1290 Retirement 2020	Pair Corr
0.6	TNNIX	1290 Retirement 2040	Pair Corr
0.52	TNJIX	1290 Retirement 2025	Pair Corr
0.64	TNWIX	1290 Retirement 2050	Pair Corr

Related Correlations Analysis

	TNBIX	TNBRX	TNBAX	TNIIX	TNHAX	TNHIX	TNHRX	TNKIX	TNJIX
TNBIX		0.95	1.0	-0.6	0.95	0.95	0.95	-0.65	-0.52	TNBIX
TNBRX	0.95		0.95	-0.61	0.92	0.95	0.94	-0.65	-0.52	TNBRX
TNBAX	1.0	0.95		-0.6	0.94	0.95	0.95	-0.65	-0.51	TNBAX
TNIIX	-0.6	-0.61	-0.6		-0.71	-0.7	-0.69	1.0	0.99	TNIIX
TNHAX	0.95	0.92	0.94	-0.71		0.99	0.99	-0.75	-0.63	TNHAX
TNHIX	0.95	0.95	0.95	-0.7	0.99		1.0	-0.74	-0.62	TNHIX
TNHRX	0.95	0.94	0.95	-0.69	0.99	1.0		-0.73	-0.61	TNHRX
TNKIX	-0.65	-0.65	-0.65	1.0	-0.75	-0.74	-0.73		0.98	TNKIX
TNJIX	-0.52	-0.52	-0.51	0.99	-0.63	-0.62	-0.61	0.98		TNJIX
	TNBIX	TNBRX	TNBAX	TNIIX	TNHAX	TNHIX	TNHRX	TNKIX	TNJIX

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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

TNBAX	+ 1.0	TNBIX
TNKIX	+ 1.0	TNIIX
TNHRX	+ 1.0	TNHIX
TNJIX	+ 0.99	TNIIX
TNHIX	+ 0.99	TNHAX
TNHRX	+ 0.99	TNHAX

High negative correlations

TNKIX	- 0.75	TNHAX
TNKIX	- 0.74	TNHIX
TNKIX	- 0.73	TNHRX
TNHAX	- 0.71	TNIIX
TNHIX	- 0.7	TNIIX
TNHRX	- 0.69	TNIIX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 Gamco 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 1290 Gamco'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
TNBIX	0.73	0.11	0.01	(2.88)	1.15	(0.80)	1.40	(1.60)	7.81
TNBRX	0.73	0.03	0.00	0.13	1.14	(0.81)	1.35	(1.66)	7.84
TNBAX	0.73	0.11	0.01	(2.96)	1.15	(0.78)	1.35	(1.65)	7.83
TNIIX	0.80	(0.29)	0.00	4.33	0.00	0.00	0.78	(1.18)	23.97
TNHAX	0.20	0.05	(0.08)	1.41	0.20	(0.24)	0.50	(0.49)	1.33
TNHIX	0.20	0.04	(0.08)	0.68	0.21	(0.24)	0.50	(0.49)	1.33
TNHRX	0.20	0.04	(0.09)	0.73	0.20	(0.25)	0.50	(0.62)	1.21
TNKIX	1.85	(0.82)	0.00	8.11	0.00	0.00	0.92	(1.43)	61.28
TNJIX	0.71	(0.21)	0.00	3.56	0.00	0.00	0.98	(1.34)	19.77

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