Applied Finance Correlations

AFVLX Fund

USD 24.00 0.09 0.38%

The current 90-days correlation between Applied Finance Select and Small Pany Fund is 0.62 (i.e., Poor 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 Select and DJI is 0.97 (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 Select 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 Select. 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

0.82	AFALX	Applied Finance Core	Pair Corr
0.78	AFAZX	Applied Finance Core	Pair Corr
0.92	AFDVX	Applied Finance Explorer	Pair Corr
0.87	AFDZX	Applied Finance Explorer	Pair Corr
0.88	AFVZX	Applied Finance Select	Pair Corr
0.83	VVIAX	Vanguard Value Index	Pair Corr
0.97	AWSHX	Washington Mutual	Pair Corr
0.88	WSHCX	Washington Mutual	Pair Corr
0.97	WSHFX	Washington Mutual	Pair Corr
0.87	FWWMX	American Funds Washington	Pair Corr
0.87	FWMMX	American Funds Washington	Pair Corr
0.93	DODGX	Dodge Stock Fund	Pair Corr
0.8	AMFFX	American Mutual	Pair Corr
0.86	AMFCX	American Mutual	Pair Corr
0.77	PDI	Pimco Dynamic Income	Pair Corr
0.88	JVACX	Jpmorgan Value Advantage	Pair Corr
0.82	TSMTX	Tiaa Cref Lifestyle	Pair Corr
0.79	NSOIX	North Star Opportunity	Pair Corr
0.91	VPMCX	Vanguard Primecap	Pair Corr
0.94	FTMSX	Fuller Thaler Behavioral	Pair Corr
0.62	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.67	GRERX	Goldman Sachs Real	Pair Corr
0.9	CLBAX	American Balanced	Pair Corr
0.68	GRETX	Goldman Sachs Real	Pair Corr
0.71	LCSMX	Martin Currie Sma Steady Growth	Pair Corr

Moving against Applied Mutual Fund

0.73	TCTGX	Transamerica Cleartrack	Pair Corr
0.72	TDKTX	Cleartrack 2015 Class	Pair Corr
0.41	USPSX	Profunds Ultrashort	Pair Corr
0.92	UIPIX	Ultrashort Mid Cap	Pair Corr
0.72	TCTJX	Transamerica Cleartrack	Pair Corr
0.71	TCSUX	Cleartrack 2020 Class	Pair Corr
0.53	CESGX	Coho Relative Value	Pair Corr
0.39	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	STVYX	EGORX	WFLLX	TMMAX	STMPX	MDLVX	GWEIX	MIMSX	FOSBX	FOSCX
STVYX		0.58	0.83	1.0	0.92	0.87	0.93	-0.96	0.86	0.86	STVYX
EGORX	0.58		0.64	0.58	0.75	0.66	0.7	-0.52	0.63	0.63	EGORX
WFLLX	0.83	0.64		0.83	0.9	0.91	0.89	-0.74	0.89	0.89	WFLLX
TMMAX	1.0	0.58	0.83		0.92	0.87	0.93	-0.96	0.86	0.86	TMMAX
STMPX	0.92	0.75	0.9	0.92		0.96	0.98	-0.86	0.96	0.96	STMPX
MDLVX	0.87	0.66	0.91	0.87	0.96		0.94	-0.82	0.97	0.97	MDLVX
GWEIX	0.93	0.7	0.89	0.93	0.98	0.94		-0.91	0.95	0.95	GWEIX
MIMSX	-0.96	-0.52	-0.74	-0.96	-0.86	-0.82	-0.91		-0.8	-0.8	MIMSX
FOSBX	0.86	0.63	0.89	0.86	0.96	0.97	0.95	-0.8		1.0	FOSBX
FOSCX	0.86	0.63	0.89	0.86	0.96	0.97	0.95	-0.8	1.0		FOSCX
	STVYX	EGORX	WFLLX	TMMAX	STMPX	MDLVX	GWEIX	MIMSX	FOSBX	FOSCX

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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

TMMAX	+ 1.0	STVYX
FOSCX	+ 1.0	FOSBX
GWEIX	+ 0.98	STMPX
FOSBX	+ 0.97	MDLVX
FOSCX	+ 0.97	MDLVX
MDLVX	+ 0.96	STMPX

High negative correlations

MIMSX	- 0.96	TMMAX
MIMSX	- 0.96	STVYX
MIMSX	- 0.91	GWEIX
MIMSX	- 0.86	STMPX
MIMSX	- 0.82	MDLVX
FOSCX	- 0.8	MIMSX

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
STVYX	1.02	0.56	0.89	(112.60)	0.00	(1.47)	1.15	(0.66)	32.38
EGORX	0.66	(0.01)	(0.03)	0.08	0.74	(0.72)	1.14	(1.42)	4.65
WFLLX	0.37	0.06	(0.04)	0.49	0.21	(0.62)	0.96	(0.70)	2.56
TMMAX	1.02	0.56	0.89	(53.52)	0.00	(1.39)	1.15	(0.69)	32.53
STMPX	0.82	0.14	0.17	0.22	0.55	(1.00)	2.35	(1.45)	5.31
MDLVX	0.57	0.22	0.20	(14.11)	0.20	(0.69)	1.40	(1.01)	4.87
GWEIX	0.88	0.20	0.20	0.32	0.54	(1.05)	2.24	(1.39)	9.45
MIMSX	2.68	(1.48)	0.00	(0.45)	0.00	0.00	1.68	(1.62)	90.44
FOSBX	0.91	0.19	0.26	0.24	0.41	(1.09)	2.29	(1.22)	10.77
FOSCX	0.91	0.19	0.25	0.24	0.41	(1.08)	2.28	(1.23)	10.83

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