Cavanal Hill Correlations

AAUSX Fund

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The current 90-days correlation between Cavanal Hill Ultra and Bond Fund Investor is -0.01 (i.e., Good diversification). The correlation of Cavanal Hill 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.

Cavanal Hill Correlation With Market

Good diversification

The correlation between Cavanal Hill Ultra and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cavanal Hill Ultra and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cavanal Hill Ultra. 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 state.

Moving together with Cavanal Mutual Fund

0.72	APLIX	Cavanal Hill Hedged	Pair Corr
0.97	APUSX	Cavanal Hill Ultra	Pair Corr
0.8	APWEX	World Energy	Pair Corr
0.73	AALIX	Astonherndon Large Cap	Pair Corr
0.8	AAWEX	World Energy	Pair Corr
0.8	ACWEX	World Energy	Pair Corr
0.73	AILIX	Cavanal Hill Hedged	Pair Corr
0.98	AIUSX	Cavanal Hillultra Short	Pair Corr
0.8	AIWEX	World Energy	Pair Corr
0.83	VWSTX	Vanguard Short Term	Pair Corr
0.83	VWSUX	Vanguard Short Term	Pair Corr

Moving against Cavanal Mutual Fund

0.7	APBDX	Bond Fund Investor	Pair Corr
0.69	AABOX	Bond Fund Class	Pair Corr
0.67	AIBNX	Bond Fund Institutional	Pair Corr
0.66	AAENX	Strategic Enhanced Yield	Pair Corr
0.65	APENX	Strategic Enhanced Yield	Pair Corr
0.64	AIENX	Strategic Enhanced Yield	Pair Corr
0.33	APSTX	Limited Duration	Pair Corr
0.64	HLDCX	Hartford Emerging	Pair Corr
0.62	HLDAX	Hartford Emerging	Pair Corr
0.61	HLDIX	Hartford Emerging	Pair Corr
0.61	HLDRX	Hartford Emerging	Pair Corr
0.6	HLDTX	Hartford Emerging	Pair Corr
0.36	AIDYX	Diversified Municipal	Pair Corr
0.36	AIDZX	Diversified Municipal	Pair Corr
0.35	SNDPX	Diversified Municipal	Pair Corr

Related Correlations Analysis

	APBDX	APENX	APLIX	APSTX	APUSX	APWEX	AABOX	AAENX	AALIX	AASTX
APBDX		0.99	-0.72	0.88	-0.63	-0.85	1.0	1.0	-0.72	0.87	APBDX
APENX	0.99		-0.67	0.9	-0.58	-0.82	0.99	1.0	-0.67	0.89	APENX
APLIX	-0.72	-0.67		-0.41	0.64	0.89	-0.72	-0.68	1.0	-0.39	APLIX
APSTX	0.88	0.9	-0.41		-0.27	-0.62	0.88	0.9	-0.41	0.99	APSTX
APUSX	-0.63	-0.58	0.64	-0.27		0.74	-0.62	-0.6	0.65	-0.24	APUSX
APWEX	-0.85	-0.82	0.89	-0.62	0.74		-0.85	-0.83	0.89	-0.59	APWEX
AABOX	1.0	0.99	-0.72	0.88	-0.62	-0.85		1.0	-0.71	0.87	AABOX
AAENX	1.0	1.0	-0.68	0.9	-0.6	-0.83	1.0		-0.68	0.89	AAENX
AALIX	-0.72	-0.67	1.0	-0.41	0.65	0.89	-0.71	-0.68		-0.38	AALIX
AASTX	0.87	0.89	-0.39	0.99	-0.24	-0.59	0.87	0.89	-0.38		AASTX
	APBDX	APENX	APLIX	APSTX	APUSX	APWEX	AABOX	AAENX	AALIX	AASTX

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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

AABOX	+ 1.0	APBDX
AAENX	+ 1.0	APBDX
AAENX	+ 1.0	APENX
AALIX	+ 1.0	APLIX
AAENX	+ 1.0	AABOX
APENX	+ 0.99	APBDX

High negative correlations

AABOX	- 0.85	APWEX
APWEX	- 0.85	APBDX
AAENX	- 0.83	APWEX
APWEX	- 0.82	APENX
AABOX	- 0.72	APLIX
AALIX	- 0.72	APBDX

Risk-Adjusted Indicators

There is a big difference between Cavanal Mutual Fund performing well and Cavanal Hill 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 Cavanal Hill'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
APBDX	0.21	(0.02)	0.00	0.38	0.00	0.00	0.36	(0.47)	1.18
APENX	0.19	(0.02)	0.00	0.55	0.00	0.00	0.34	(0.45)	1.11
APLIX	0.39	(0.03)	(0.14)	0.07	0.46	(0.44)	0.80	(0.95)	2.71
APSTX	0.09	0.00	(0.74)	0.24	0.11	(0.14)	0.22	(0.22)	0.65
APUSX	0.03	0.00	0.00	(0.31)	0.00	0.00	0.10	0.00	0.40
APWEX	0.89	0.10	0.08	0.21	0.95	(0.97)	2.01	(1.67)	5.80
AABOX	0.22	(0.02)	0.00	0.40	0.00	0.00	0.47	(0.59)	1.30
AAENX	0.19	(0.02)	0.00	0.61	0.00	0.00	0.34	(0.57)	1.15
AALIX	0.35	(0.02)	(0.16)	0.08	0.35	(0.44)	0.64	(0.79)	2.63
AASTX	0.09	(0.01)	(0.75)	0.45	0.11	(0.13)	0.21	(0.22)	0.75

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