Applied Finance Correlations

AFALX Fund

USD 12.16 0.08 0.66%

The current 90-days correlation between Applied Finance Core and Cullen Value Fund is 0.06 (i.e., Significant diversification). The correlation of Applied Finance 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.

Applied Finance Correlation With Market

Average diversification

The correlation between Applied Finance Core and DJI 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 Applied Finance Core 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 Applied Finance Core. 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 board of governors.

Moving together with Applied Mutual Fund

0.86	AFAZX	Applied Finance Core	Pair Corr
0.76	AFDVX	Applied Finance Explorer	Pair Corr
0.76	AFVLX	Applied Finance Select	Pair Corr
0.91	VVIAX	Vanguard Value Index	Pair Corr
0.8	AWSHX	Washington Mutual	Pair Corr
0.79	WSHCX	Washington Mutual	Pair Corr
0.81	WSHFX	Washington Mutual	Pair Corr
0.71	DODGX	Dodge Stock Fund	Pair Corr
0.78	AMFFX	American Mutual	Pair Corr
0.8	AMFCX	American Mutual	Pair Corr
0.78	FSMEX	Medical Equipment And	Pair Corr
0.66	FAIRX	Fairholme Fund	Pair Corr
0.83	CBURX	Columbia Income Builder	Pair Corr
0.82	UUSIX	Ultra Short Term	Pair Corr
0.84	NSMCX	Nuveen Nwq Smallmid	Pair Corr
0.77	CAAMX	Invesco Servative	Pair Corr
0.85	USHYX	High Income Fund	Pair Corr
0.67	BMCCX	Blackrock Advantage Large	Pair Corr
0.75	PUFCX	Prudential Financial	Pair Corr
0.88	ASGI	Aberdeen Standard Global	Pair Corr
0.65	NRMGX	Neuberger Berman Mid	Pair Corr
0.81	CUSDX	Six Circles Ultra	Pair Corr

Moving against Applied Mutual Fund

0.36	MBIRX	Morgan Stanley Insight	Pair Corr
0.43	ONERX	One Rock Fund	Pair Corr
0.37	MSCMX	Morgan Stanley Multi	Pair Corr
0.35	MCRTX	Morgan Stanley Multi	Pair Corr

Related Correlations Analysis

	CVLEX	RSJN	PCIG	MGPIX	LPRE	GTTMX	RYUIX	ADVGX	DIVE	TGFRX
CVLEX		0.92	-0.12	0.75	0.79	0.91	-0.66	0.87	0.86	0.41	CVLEX
RSJN	0.92		0.04	0.82	0.79	0.77	-0.59	0.85	0.94	0.49	RSJN
PCIG	-0.12	0.04		0.19	0.02	-0.28	0.5	0.19	0.11	0.37	PCIG
MGPIX	0.75	0.82	0.19		0.66	0.6	-0.48	0.71	0.76	0.45	MGPIX
LPRE	0.79	0.79	0.02	0.66		0.72	-0.32	0.7	0.78	0.35	LPRE
GTTMX	0.91	0.77	-0.28	0.6	0.72		-0.69	0.78	0.72	0.28	GTTMX
RYUIX	-0.66	-0.59	0.5	-0.48	-0.32	-0.69		-0.51	-0.51	0.03	RYUIX
ADVGX	0.87	0.85	0.19	0.71	0.7	0.78	-0.51		0.9	0.51	ADVGX
DIVE	0.86	0.94	0.11	0.76	0.78	0.72	-0.51	0.9		0.57	DIVE
TGFRX	0.41	0.49	0.37	0.45	0.35	0.28	0.03	0.51	0.57		TGFRX
	CVLEX	RSJN	PCIG	MGPIX	LPRE	GTTMX	RYUIX	ADVGX	DIVE	TGFRX

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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

DIVE	+ 0.94	RSJN
RSJN	+ 0.92	CVLEX
GTTMX	+ 0.91	CVLEX
DIVE	+ 0.9	ADVGX
ADVGX	+ 0.87	CVLEX
DIVE	+ 0.86	CVLEX

High negative correlations

RYUIX	- 0.69	GTTMX
RYUIX	- 0.66	CVLEX
RYUIX	- 0.59	RSJN
DIVE	- 0.51	RYUIX
ADVGX	- 0.51	RYUIX
RYUIX	- 0.48	MGPIX

Risk-Adjusted Indicators

There is a big difference between Applied Mutual Fund performing well and Applied Finance 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 Applied Finance'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
CVLEX	0.57	0.05	0.05	0.12	0.59	(0.61)	1.28	(1.02)	3.09
RSJN	0.35	(0.01)	(0.07)	0.04	0.46	(0.34)	0.62	(0.77)	1.74
PCIG	0.72	(0.10)	0.00	(0.04)	0.00	0.00	1.32	(1.79)	4.19
MGPIX	0.79	0.00	(0.04)	0.04	1.09	(0.74)	1.66	(1.74)	4.30
LPRE	0.67	0.05	0.00	0.35	0.85	(0.68)	1.55	(1.41)	3.76
GTTMX	1.09	0.36	0.31	0.44	0.62	(1.31)	1.41	(1.67)	23.57
RYUIX	0.57	(0.03)	0.00	(0.05)	0.00	0.00	1.17	(1.17)	4.31
ADVGX	0.95	(0.03)	(0.02)	0.03	1.07	(1.06)	2.51	(1.92)	6.32
DIVE	0.61	(0.01)	(0.02)	0.04	0.84	(0.63)	1.30	(1.16)	4.46
TGFRX	1.72	0.02	0.03	0.07	2.13	(1.75)	3.56	(3.12)	13.29

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