Applied Finance Correlations

AFALX Fund

USD 12.41 0.04 0.32%

The current 90-days correlation between Applied Finance Core and Tanaka Growth Fund is 0.36 (i.e., Weak 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

Almost no diversification

The correlation between Applied Finance Core and DJI is 0.9 (i.e., Almost no 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 industry.

Moving together with Applied Mutual Fund

1.0	AFAZX	Applied Finance Core	Pair Corr
0.89	AFDVX	Applied Finance Explorer	Pair Corr
0.92	AFDZX	Applied Finance Explorer	Pair Corr
0.9	AFVZX	Applied Finance Select	Pair Corr
0.81	AFVLX	Applied Finance Select	Pair Corr
0.97	VVIAX	Vanguard Value Index	Pair Corr
0.88	AWSHX	Washington Mutual	Pair Corr
0.88	WSHCX	Washington Mutual	Pair Corr
0.92	WSHFX	Washington Mutual	Pair Corr
0.9	FWWMX	American Funds Washington	Pair Corr
0.9	FWMMX	American Funds Washington	Pair Corr
0.88	DODGX	Dodge Stock Fund	Pair Corr
0.9	AMFFX	American Mutual	Pair Corr
0.89	AMFCX	American Mutual	Pair Corr
0.93	SHLMX	Stone Harbor Local	Pair Corr
0.63	HYMOX	Lord Abbett High	Pair Corr
0.89	RNRPX	American Funds Retirement	Pair Corr
0.73	DSM	Bny Mellon Strategic	Pair Corr
0.91	PTLCX	Low Duration	Pair Corr
0.75	FFRDX	Franklin Floating Rate	Pair Corr
0.77	PEO	Adams Natural Resources	Pair Corr
0.91	UTVNX	My529 Short Term	Pair Corr
0.88	TRPBX	T Rowe Price	Pair Corr
0.89	ARCFX	Arbitrage Credit	Pair Corr
0.66	SNEMX	Emerging Markets Por	Pair Corr
0.75	FACVX	Fidelity Convertible	Pair Corr
0.91	SECPX	Sdit Ultra Short	Pair Corr
0.92	HYPPX	Mfs High Yield	Pair Corr
0.9	ISGDX	Columbia Integrated Small	Pair Corr
0.86	RGBGX	American Funds Global	Pair Corr
0.9	TRFHX	T Rowe Price	Pair Corr
0.96	FISRX	Franklin Income	Pair Corr
0.94	HDSIX	Hodges Small Cap	Pair Corr
0.84	ABRJX	Abr Enhanced Short	Pair Corr
0.86	LNYAX	Columbia Amt Free	Pair Corr
0.81	CFNAX	American Funds Funda	Pair Corr

Moving against Applied Mutual Fund

0.52

AMRMX

American Mutual

Pair Corr

Related Correlations Analysis

	CVLEX	RSJN	PCIG	MGPIX	LPRE	GTTMX	RYUIX	ADVGX	DIVE	TGFRX
CVLEX		0.96	0.36	0.92	0.89	0.93	-0.59	0.98	0.93	0.62	CVLEX
RSJN	0.96		0.43	0.96	0.89	0.86	-0.55	0.96	0.96	0.74	RSJN
PCIG	0.36	0.43		0.5	0.39	0.2	0.14	0.42	0.42	0.49	PCIG
MGPIX	0.92	0.96	0.5		0.86	0.78	-0.42	0.93	0.91	0.72	MGPIX
LPRE	0.89	0.89	0.39	0.86		0.82	-0.34	0.89	0.93	0.59	LPRE
GTTMX	0.93	0.86	0.2	0.78	0.82		-0.68	0.92	0.85	0.52	GTTMX
RYUIX	-0.59	-0.55	0.14	-0.42	-0.34	-0.68		-0.58	-0.54	-0.37	RYUIX
ADVGX	0.98	0.96	0.42	0.93	0.89	0.92	-0.58		0.94	0.7	ADVGX
DIVE	0.93	0.96	0.42	0.91	0.93	0.85	-0.54	0.94		0.71	DIVE
TGFRX	0.62	0.74	0.49	0.72	0.59	0.52	-0.37	0.7	0.71		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

ADVGX	+ 0.98	CVLEX
RSJN	+ 0.96	CVLEX
MGPIX	+ 0.96	RSJN
ADVGX	+ 0.96	RSJN
DIVE	+ 0.96	RSJN
DIVE	+ 0.94	ADVGX

High negative correlations

RYUIX	- 0.68	GTTMX
RYUIX	- 0.59	CVLEX
ADVGX	- 0.58	RYUIX
RYUIX	- 0.55	RSJN
DIVE	- 0.54	RYUIX
RYUIX	- 0.42	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	0.59	0.06	0.07	0.15	0.56	(0.66)	1.28	(1.27)	4.06
RSJN	0.34	0.00	(0.07)	0.08	0.36	(0.36)	0.85	(0.77)	2.04
PCIG	0.78	(0.11)	0.00	(0.03)	0.00	0.00	1.32	(1.79)	5.30
MGPIX	0.80	0.02	0.02	0.09	0.83	(0.88)	1.66	(1.58)	3.95
LPRE	0.69	0.06	(0.01)	1.45	0.92	(0.70)	1.73	(1.50)	4.33
GTTMX	1.09	0.38	0.43	0.52	0.16	(1.41)	1.50	(1.43)	23.89
RYUIX	0.59	(0.09)	0.00	(0.17)	0.00	0.00	1.14	(1.17)	4.31
ADVGX	0.94	0.09	0.09	0.15	0.92	(1.07)	2.53	(1.78)	7.05
DIVE	0.63	0.07	0.02	0.40	0.77	(0.69)	1.43	(0.99)	4.25
TGFRX	1.38	(0.07)	(0.02)	0.02	2.01	(1.26)	2.62	(3.12)	9.93

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