Applied Finance Correlations

Mutual Funds . USA . 
Fund . Applied Finance Explorer
AFDVX Fund  USD 22.45  0.04  0.18%   
The current 90-days correlation between Applied Finance Explorer and Thrivent Small Cap is 0.23 (i.e., Modest 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

Weak diversification

The correlation between Applied Finance Explorer and DJI is 0.33 (i.e., Weak 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 real.

Moving together with Applied Mutual Fund

  0.87AFALX Applied Finance CorePairCorr
  0.98AFDZX Applied Finance ExplorerPairCorr
  0.82AFVZX Applied Finance SelectPairCorr
  0.81AFVLX Applied Finance SelectPairCorr
  0.95VSIIX Vanguard Small CapPairCorr
  0.95VISVX Vanguard Small CapPairCorr
  0.93DFSVX Us Small CapPairCorr
  0.9DFFVX Us Targeted ValuePairCorr
  0.93UBVCX Undiscovered ManagersPairCorr
  0.93UBVAX Undiscovered ManagersPairCorr
  0.92UBVSX Undiscovered ManagersPairCorr
  0.95AVFIX American Beacon SmallPairCorr
  0.79LSHAX Horizon Spin Off Steady GrowthPairCorr
  0.74KNPYX Kinetics Paradigm Steady GrowthPairCorr
  0.61KMKNX Kinetics Market Oppo Steady GrowthPairCorr
  0.78LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.81LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.74WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.75KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.69KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.67PEO Adams Natural ResourcesPairCorr

Moving against Applied Mutual Fund

  0.39DFTPX Dfa Target ValuePairCorr
  0.39DFTVX Dfa Inv DimensionsPairCorr
  0.45QCMMIX Cref Money MarketPairCorr
  0.38ATOAX Alpine Ultra ShortPairCorr
  0.36HUBBX Hartford Ultrashort BondPairCorr
  0.5JDJRX Jhancock DiversifiedPairCorr
  0.45EMPIX Ambassador FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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