Applied Finance Correlations

Mutual Funds . USA . 
Fund . Applied Finance Select
AFVZX Fund  USD 24.06  0.19  0.80%   
The current 90-days correlation between Applied Finance Select and Financial Services Fund is 0.83 (i.e., Very 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 0.95 (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 nation.

Moving together with Applied Mutual Fund

  0.87AFALX Applied Finance CorePairCorr
  0.87AFAZX Applied Finance CorePairCorr
  0.93AFDVX Applied Finance ExplorerPairCorr
  0.97AFDZX Applied Finance ExplorerPairCorr
  0.95AFVLX Applied Finance SelectPairCorr
  0.9VVIAX Vanguard Value IndexPairCorr
  0.97AWSHX Washington MutualPairCorr
  0.97WSHCX Washington MutualPairCorr
  0.96WSHFX Washington MutualPairCorr
  0.97FWWMX American Funds WashingtonPairCorr
  0.97FWMMX American Funds WashingtonPairCorr
  0.98DODGX Dodge Stock FundPairCorr
  0.94AMFFX American MutualPairCorr
  0.94AMFCX American MutualPairCorr
  0.92FSMMX Fs Multi StrategyPairCorr
  0.91BTMPX Ishares Msci EafePairCorr
  0.91BTMKX Blackrock InternationalPairCorr
  0.91MDIIX Blackrock Intern IndexPairCorr
  0.68SPMPX Invesco Steelpath MlpPairCorr
  0.68MLPNX Oppenheimer Steelpath MlpPairCorr
  0.68MLPMX Oppenheimer Steelpath MlpPairCorr
  0.68SPMJX Invesco Steelpath MlpPairCorr
  0.69MLPGX Oppenheimer Steelpath MlpPairCorr
  0.97TCLFX Tiaa Cref LifecyclePairCorr
  0.87JASBX Janus Short TermPairCorr
  0.9FGDMX Fidelity Advisor ComPairCorr
  0.92AMFNX Asg Managed FuturesPairCorr
  0.83OGLCX Oppenheimer GlobalPairCorr
  0.88RPTIX T Rowe PricePairCorr
  0.96TTFHX Tiaa Cref LifecyclePairCorr
  0.94TIOTX Tiaa Cref InternationalPairCorr
  0.62POSAX Global Real EstatePairCorr
  0.95CLBCX American BalancedPairCorr
  0.72KAUIX Federated KaufmannPairCorr
  0.69DQIYX Dreyfus Equity IncomePairCorr
  0.84IPFIX Victory IncorePairCorr

Moving against Applied Mutual Fund

  0.36AMRMX American MutualPairCorr

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.

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