COAGX vs. LONGX

Last updated Jul 11, 2026

COAGX (Caldwell & Orkin - Gator Capital Long/Short Fund) and LONGX (Longboard Alternative Growth Fund) are both Long-Short funds. A 0.53 correlation means they provide meaningful diversification when combined. COAGX charges 2.00%/yr vs 1.99%/yr for LONGX.

Performance

COAGX vs. LONGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Caldwell & Orkin - Gator Capital Long/Short Fund (COAGX) and Longboard Alternative Growth Fund (LONGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

COAGX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LONGX

• 1D: 0.77%
• 1M: 1.01%
• 6M: 10.53%
• YTD: 13.48%
• 1Y: 16.84%
• 3Y*: 11.24%
• 5Y*: 5.05%
• 10Y*: 24.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

COAGX vs. LONGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COAGX Caldwell & Orkin - Gator Capital Long/Short Fund	3.61%	17.44%	35.58%	31.98%	-7.18%	27.17%	11.06%	24.20%	-15.53%	0.93%
LONGX Longboard Alternative Growth Fund	13.48%	1.49%	14.95%	5.64%	-13.21%	13.89%	27.70%	13.82%	270.32%	19.08%

Correlation

The correlation between COAGX and LONGX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 20, 2015	0.53

The correlation between COAGX and LONGX shifts across timeframes, from 0.49 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

COAGX vs. LONGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COAGX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

LONGX

LONGX Risk / Return Rank: 50
LONGX Sharpe Ratio Rank: 46
LONGX Sortino Ratio Rank: 50
LONGX Omega Ratio Rank: 43
LONGX Calmar Ratio Rank: 57
LONGX Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COAGX vs. LONGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Caldwell & Orkin - Gator Capital Long/Short Fund (COAGX) and Longboard Alternative Growth Fund (LONGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	COAGX	LONGX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.50	—
Sortino ratio: Return per unit of downside risk	—	2.25	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.32	—
Martin ratio: Return relative to average drawdown	—	8.88	—

Drawdowns

Drawdown Indicators

	COAGX	LONGX	Difference
Max Drawdown Largest peak-to-trough decline	—	-77.16%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-7.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.16%	—
Current Drawdown Current decline from peak	—	-1.22%	—
Average Drawdown Average peak-to-trough decline	—	-7.31%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.85%	—

Volatility

Volatility by Period

	COAGX	LONGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	10.93%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	11.90%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	137.73%	—

COAGX vs. LONGX - Expense Ratio Comparison

COAGX has a 2.00% expense ratio, which is higher than LONGX's 1.99% expense ratio.

Dividends

COAGX vs. LONGX - Dividend Comparison

Neither COAGX nor LONGX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COAGX Caldwell & Orkin - Gator Capital Long/Short Fund	0.00%	0.00%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.81%
LONGX Longboard Alternative Growth Fund	0.00%	0.00%	0.00%	5.40%	7.64%	1.73%	0.00%	0.00%	3.10%	268.50%	23.29%	0.00%

Frequently Asked Questions

Can I hold both COAGX and LONGX in my portfolio?

COAGX and LONGX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.