Applied Finance Correlations

Mutual Funds . USA . 
Fund . Applied Finance Explorer
AFDVX Fund  USD 23.17  0.13  0.56%   
The current 90-days correlation between Applied Finance Explorer and Transamerica Smallmid Cap is 0.57 (i.e., Very 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

Modest diversification

The correlation between Applied Finance Explorer and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Finance Explorer 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 Explorer. 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 services.

Moving together with Applied Mutual Fund

  0.76AFALX Applied Finance CorePairCorr
  0.62AFAZX Applied Finance CorePairCorr
  0.63AFDZX Applied Finance ExplorerPairCorr
  0.94AFVLX Applied Finance SelectPairCorr
  0.84VSIIX Vanguard Small CapPairCorr
  0.83VISVX Vanguard Small CapPairCorr
  0.67DFSVX Us Small CapPairCorr
  0.69DFFVX Us Targeted ValuePairCorr
  0.79UBVCX Undiscovered ManagersPairCorr
  0.8UBVAX Undiscovered ManagersPairCorr
  0.8UBVSX Undiscovered ManagersPairCorr
  0.63VSMCX Invesco Small CapPairCorr
  0.68VFIAX Vanguard 500 IndexPairCorr
  0.76VTSAX Vanguard Total StockPairCorr
  0.71VTSMX Vanguard Total StockPairCorr
  0.76VSTSX Vanguard Total StockPairCorr
  0.76VITSX Vanguard Total StockPairCorr
  0.72VSMPX Vanguard Total StockPairCorr
  0.73VTIAX Vanguard Total InterPairCorr
  0.68VFINX Vanguard 500 IndexPairCorr
  0.7VFFSX Vanguard 500 IndexPairCorr
  0.71MDDVX Blackrock Equity DividendPairCorr
  0.71VSTCX Vanguard StrategicPairCorr
  0.69SLVYX Large Cap ValuePairCorr
  0.67CGFAX Growth FundPairCorr
  0.68COSSX Columbia Overseas ValuePairCorr
  0.65VWILX Vanguard InternationalPairCorr
  0.63VGIAX Vanguard Growth AndPairCorr
  0.67PSTKX Stocksplus Fund InstPairCorr
  0.75MVCKX Mfs Mid CapPairCorr
  0.72FNKLX Fidelity Series EquityPairCorr
  0.79VEXRX Vanguard ExplorerPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TSVIX  0.82  0.16  0.13  0.49  0.64 
(0.95)
 1.90 
(1.36)
 10.53 
CISMX  0.70 (0.04) 0.00 (0.15) 0.00 
 0.00 
 1.24 
(1.67)
 4.28 
ARTQX  0.82  0.05  0.08  0.12  0.66 
(1.05)
 1.86 
(1.10)
 9.49 
PRESX  0.58  0.00 (0.02) 0.07  0.67 
(0.60)
 1.27 
(1.19)
 2.79 
AOGIX  0.54  0.08  0.09  0.18  0.42 
(0.64)
 1.02 
(0.88)
 7.57 
ARFVX  0.63  0.19  0.27  0.33  0.00 
(0.81)
 0.95 
(0.79)
 14.57 
TISVX  0.58 (0.01)(0.04) 0.06  0.70 
(0.67)
 1.25 
(1.18)
 3.41 
PIEQX  0.59  0.02  0.01  0.10  0.70 
(0.61)
 1.15 
(1.15)
 2.76 
NBFCX  0.75  0.14  0.14  0.27  0.61 
(0.89)
 1.22 
(1.50)
 11.60 
GTCSX  0.88  0.08  0.08  0.14  0.88 
(0.97)
 2.28 
(1.41)
 8.70 

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