Applied Finance Correlations

AFDZX Fund

USD 24.18 0.05 0.21%

The current 90-days correlation between Applied Finance Explorer and Putnam Global Health is 0.52 (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

Almost no diversification

The correlation between Applied Finance Explorer and DJI is 0.92 (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 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 nation.

Moving together with Applied Mutual Fund

0.91	AFALX	Applied Finance Core	Pair Corr
0.91	AFAZX	Applied Finance Core	Pair Corr
0.97	AFDVX	Applied Finance Explorer	Pair Corr
0.93	AFVLX	Applied Finance Select	Pair Corr
0.97	VSIIX	Vanguard Small Cap	Pair Corr
0.97	VISVX	Vanguard Small Cap	Pair Corr
0.95	DFSVX	Us Small Cap	Pair Corr
0.96	DFFVX	Us Targeted Value	Pair Corr
0.94	UBVCX	Undiscovered Managers	Pair Corr
0.94	UBVAX	Undiscovered Managers	Pair Corr
0.94	UBVSX	Undiscovered Managers	Pair Corr
0.92	VSMCX	Invesco Small Cap	Pair Corr
0.71	PDI	Pimco Dynamic Income	Pair Corr
0.81	ATOAX	Alpine Ultra Short	Pair Corr
0.89	GWPAX	American Funds Growth	Pair Corr
0.83	GQRRX	Gqg Partners Global	Pair Corr
0.92	RNECX	Rationalrgn Hedged Equity	Pair Corr
0.91	RERAX	Europacific Growth	Pair Corr
0.92	GCIRX	Goldman Sachs Intern	Pair Corr
0.8	MEFIX	Martin Currie Emerging	Pair Corr
0.9	TGBLX	T Rowe Price	Pair Corr
0.91	RRPPX	American Funds Retirement	Pair Corr
0.94	AFOCX	Archer Focus	Pair Corr
0.94	TRRTX	T Rowe Price	Pair Corr
0.93	TPHAX	Timothy Plan High	Pair Corr
0.74	VFISX	Vanguard Short Term	Pair Corr
0.97	PIAFX	Invesco Multi Asset	Pair Corr
0.96	DFIEX	International E Equity	Pair Corr
0.89	TWDAX	Templeton World	Pair Corr
0.86	TOLZX	Deutsche Global Infr	Pair Corr
0.87	RISSX	Rbc International Small	Pair Corr
0.91	MGXCX	Mainstay Growth Allo	Pair Corr

Moving against Applied Mutual Fund

0.73	TCSUX	Cleartrack 2020 Class	Pair Corr
0.68	TCTGX	Transamerica Cleartrack	Pair Corr
0.67	TDKTX	Cleartrack 2015 Class	Pair Corr
0.67	TCTJX	Transamerica Cleartrack	Pair Corr
0.45	USPSX	Profunds Ultrashort	Pair Corr
0.98	UIPIX	Ultrashort Mid Cap	Pair Corr
0.83	CESGX	Coho Relative Value	Pair Corr
0.43	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	LYFAX	GTHCX	PJHRX	RYHEX	SCHLX	VGHCX	BHSRX	PHSRX
LYFAX		0.65	0.71	0.86	0.83	0.93	0.89	0.87	LYFAX
GTHCX	0.65		0.97	0.9	0.89	0.82	0.85	0.87	GTHCX
PJHRX	0.71	0.97		0.92	0.91	0.82	0.88	0.88	PJHRX
RYHEX	0.86	0.9	0.92		0.97	0.96	0.96	0.97	RYHEX
SCHLX	0.83	0.89	0.91	0.97		0.94	0.98	0.95	SCHLX
VGHCX	0.93	0.82	0.82	0.96	0.94		0.96	0.97	VGHCX
BHSRX	0.89	0.85	0.88	0.96	0.98	0.96		0.94	BHSRX
PHSRX	0.87	0.87	0.88	0.97	0.95	0.97	0.94		PHSRX
	LYFAX	GTHCX	PJHRX	RYHEX	SCHLX	VGHCX	BHSRX	PHSRX

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
LYFAX	0.91	0.12	0.08	0.30	0.83	(1.07)	2.00	(1.56)	5.01
GTHCX	0.83	0.23	0.29	0.55	0.25	(1.14)	1.66	(1.25)	16.06
PJHRX	1.12	0.38	0.42	0.60	0.27	(1.46)	2.08	(1.16)	21.80
RYHEX	0.64	0.09	0.12	0.21	0.39	(0.84)	1.97	(0.98)	3.91
SCHLX	0.71	0.14	0.18	0.26	0.36	(0.84)	2.15	(1.08)	7.03
VGHCX	0.64	0.11	0.11	0.32	0.46	(0.77)	1.94	(0.95)	4.26
BHSRX	0.66	0.16	0.19	0.49	0.35	(0.87)	1.82	(1.00)	4.84
PHSRX	0.65	0.12	0.12	0.35	0.48	(0.80)	1.83	(1.15)	4.36

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