Astor Star Correlations
| STARX Fund | USD 14.99 0.01 0.07% |
The correlation of Astor Star 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 Astor Star moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Astor Star Fund 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 Astor Star Fund and NYA is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Astor Star Fund and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Astor Star could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Astor Star 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 Astor Star - 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 Astor Star Fund to buy it.
Moving together with Astor Mutual Fund
| 0.95 | ASTIX | Astor Longshort | PairCorr |
| 0.81 | PAALX | All Asset Fund | PairCorr |
| 0.79 | PATRX | Pimco All Asset | PairCorr |
| 0.82 | PAAIX | All Asset Fund | PairCorr |
| 0.82 | PALPX | Pimco All Asset | PairCorr |
| 0.81 | PASAX | All Asset Fund | PairCorr |
| 0.78 | PASCX | All Asset Fund | PairCorr |
| 0.82 | PAANX | Pimco All Asset | PairCorr |
| 0.61 | PAUPX | Pimco All Asset | PairCorr |
| 0.61 | PAUIX | Pimco All Asset | PairCorr |
| 0.93 | ABRIX | Invesco Balanced Risk | PairCorr |
| 0.64 | IIRFX | Voya Russia Fund | PairCorr |
| 0.64 | IWRFX | Voya Russia Fund | PairCorr |
| 0.75 | SMPSX | Semiconductor Ultrasector Steady Growth | PairCorr |
| 0.75 | SMPIX | Semiconductor Ultrasector Steady Growth | PairCorr |
| 0.64 | LETRX | Voya Russia Fund | PairCorr |
| 0.61 | UJPIX | Ultrajapan Profund | PairCorr |
| 0.78 | FSELX | Fidelity Select Semi Steady Growth | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Astor Mutual Fund performing well and Astor Star 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 Astor Star'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.Be your own money manager
Our tools can tell you how much better you can do entering a position in Astor Star 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 Astor Star Fund?
The danger of trading Astor Star Fund 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 Astor Star 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 Astor Star. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Astor Star Fund 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 World Market Map to better understand how to build diversified portfolios, which includes a position in Astor Star Fund. 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 metropolitan statistical area. You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.