New York Correlations

UNYIX Fund

USD 10.04 0.04 0.40%

The current 90-days correlation between New York Bond and Income Fund Income is 0.33 (i.e., Weak diversification). The correlation of New York 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.

New York Correlation With Market

Average diversification

The correlation between New York Bond and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New York Bond 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 New York Bond. 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 New Mutual Fund

0.96	GUTEX	Victory Tax Exempt	Pair Corr
0.95	ULTIX	Usaa Tax Exempt	Pair Corr
0.95	RSTYX	Victory Tax Exempt	Pair Corr

Moving against New Mutual Fund

0.46

REMGX

Victory Sophus Emerging

Pair Corr

Related Correlations Analysis

	UINCX	UINQX	SRVEX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBFCX	SBFMX
UINCX		0.5	0.54	0.95	0.95	0.63	0.13	0.5	0.47	0.53	UINCX
UINQX	0.5		0.99	0.69	0.68	0.77	-0.29	0.95	0.86	0.89	UINQX
SRVEX	0.54	0.99		0.73	0.72	0.78	-0.29	0.96	0.89	0.92	SRVEX
UITBX	0.95	0.69	0.73		1.0	0.74	-0.01	0.68	0.62	0.68	UITBX
UITCX	0.95	0.68	0.72	1.0		0.74	0.02	0.67	0.62	0.68	UITCX
UITIX	0.63	0.77	0.78	0.74	0.74		0.34	0.79	0.7	0.72	UITIX
GUTEX	0.13	-0.29	-0.29	-0.01	0.02	0.34		-0.18	-0.16	-0.2	GUTEX
SSGSX	0.5	0.95	0.96	0.68	0.67	0.79	-0.18		0.94	0.95	SSGSX
SBFCX	0.47	0.86	0.89	0.62	0.62	0.7	-0.16	0.94		0.99	SBFCX
SBFMX	0.53	0.89	0.92	0.68	0.68	0.72	-0.2	0.95	0.99		SBFMX
	UINCX	UINQX	SRVEX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBFCX	SBFMX

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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

UITCX	+ 1.0	UITBX
SRVEX	+ 0.99	UINQX
SBFMX	+ 0.99	SBFCX
SSGSX	+ 0.96	SRVEX
UITBX	+ 0.95	UINCX
UITCX	+ 0.95	UINCX

High negative correlations

GUTEX	- 0.29	SRVEX
GUTEX	- 0.29	UINQX
SBFMX	- 0.2	GUTEX
SSGSX	- 0.18	GUTEX
SBFCX	- 0.16	GUTEX
GUTEX	- 0.01	UITBX

Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New York 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 New York'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
UINCX	0.24	(0.01)	(0.39)	0.01	0.26	(0.26)	0.44	(0.52)	1.14
UINQX	0.80	0.18	0.16	0.31	0.59	(0.91)	2.39	(1.28)	5.37
SRVEX	0.67	0.15	0.14	0.29	0.54	(0.76)	2.06	(1.28)	4.73
UITBX	0.24	0.01	(0.34)	0.20	0.22	(0.28)	0.55	(0.44)	1.22
UITCX	0.24	0.00	(0.38)	0.19	0.20	(0.29)	0.44	(0.44)	1.10
UITIX	0.12	0.00	(0.59)	(0.06)	0.14	(0.16)	0.25	(0.33)	1.07
GUTEX	0.21	(0.05)	0.00	(0.80)	0.00	0.00	0.38	(0.63)	1.65
SSGSX	0.91	0.06	0.06	0.19	0.86	(1.04)	2.14	(1.72)	6.24
SBFCX	0.34	0.03	(0.10)	0.20	0.32	(0.38)	0.74	(0.55)	2.50
SBFMX	0.33	0.04	(0.08)	0.23	0.26	(0.38)	0.77	(0.57)	2.57

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