Aqr Style Correlations
| QSPNX Fund | USD 8.11 0.01 0.12% |
The correlation of Aqr Style 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aqr Style moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aqr Style Premia moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Aqr Style Premia and NYA is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aqr Style Premia and NYA in the same portfolio, assuming nothing else is changed.
Aqr |
The ability to find closely correlated positions to Aqr Style could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aqr Style when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Aqr Style - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Aqr Style Premia to buy it.
Moving together with Aqr Mutual Fund
| 0.94 | QLENX | Aqr Long Short | PairCorr |
| 0.95 | QLEIX | Aqr Long Short | PairCorr |
| 0.95 | QLERX | Aqr Long Short | PairCorr |
| 0.92 | QMHIX | Aqr Managed Futures | PairCorr |
| 0.93 | QMHNX | Aqr Managed Futures | PairCorr |
| 0.94 | QMNNX | Aqr Equity Market | PairCorr |
| 0.94 | QMNRX | Aqr Equity Market | PairCorr |
| 0.81 | AQGRX | Aqr Global Equity | PairCorr |
| 0.94 | AQMRX | Aqr Managed Futures | PairCorr |
| 0.94 | AQMNX | Aqr Managed Futures | PairCorr |
| 0.94 | AQMIX | Aqr Managed Futures | PairCorr |
| 0.86 | AQRRX | Aqr Risk Parity | PairCorr |
| 0.86 | AQRIX | Aqr Risk Parity | PairCorr |
| 0.89 | ARCNX | Aqr Risk Balanced | PairCorr |
| 0.89 | ARCIX | Aqr Risk Balanced | PairCorr |
| 0.95 | QNZNX | Aqr Sustainable Long | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Aqr Mutual Fund performing well and Aqr Style 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 Aqr Style'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BIMBX | 0.14 | 0.01 | (0.26) | 0.40 | 0.00 | 0.30 | 0.89 | |||
| BAMBX | 0.16 | 0.00 | (0.23) | 0.09 | 0.05 | 0.30 | 0.89 | |||
| BMBCX | 0.15 | 0.01 | (0.25) | 0.42 | 0.07 | 0.30 | 1.00 | |||
| BKMBX | 0.15 | 0.01 | (0.25) | 0.48 | 0.00 | 0.30 | 0.98 | |||
| BXMYX | 0.12 | 0.03 | (0.22) | (3.08) | 0.00 | 0.28 | 0.65 | |||
| QSPRX | 0.57 | 0.12 | 0.08 | 0.64 | 0.54 | 1.16 | 3.78 | |||
| BXMIX | 0.12 | 0.03 | (0.23) | 6.20 | 0.00 | 0.28 | 0.65 | |||
| GARTX | 0.23 | 0.05 | (0.11) | (0.27) | 0.15 | 0.44 | 1.30 | |||
| GCRTX | 0.23 | 0.04 | (0.12) | (0.24) | 0.16 | 0.49 | 1.34 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Aqr Style without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in Aqr Style Premia?
The danger of trading Aqr Style Premia is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Aqr Style is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Aqr Style. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Aqr Style Premia is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Aqr Style Premia. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.