Amana Developing Correlations

AMDWX Fund

USD 15.94 0.13 0.82%

The current 90-days correlation between Amana Developing World and Amana Developing World is 1.0 (i.e., No risk reduction). The correlation of Amana Developing 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.

Amana Developing Correlation With Market

Poor diversification

The correlation between Amana Developing World and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amana Developing World 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 Amana Developing World. 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 producer price index.

Moving together with Amana Mutual Fund

1.0	AMIDX	Amana Developing World	Pair Corr
0.91	AMINX	Amana Income	Pair Corr
0.91	AMANX	Amana Income	Pair Corr
0.87	NEWFX	New World Fund	Pair Corr
0.93	NWFFX	New World Fund	Pair Corr
0.93	NEWCX	New World Fund	Pair Corr
0.68	SVXYX	Smead International Value	Pair Corr
0.74	CFSTX	Short Term	Pair Corr
0.91	PAWAX	T Rowe Price	Pair Corr
0.88	ABVAX	Ab Value Fund	Pair Corr
0.88	BRUFX	Bruce Fund Bruce	Pair Corr
0.92	TWSMX	Strategic Allocation	Pair Corr
0.66	UTAYX	Aquila Tax Free	Pair Corr
0.9	HNISX	Harbor International	Pair Corr
0.67	UTACX	Aquila Tax Free	Pair Corr
0.85	CFGRX	Growth Fund	Pair Corr
0.82	PAGDX	Aggressive Growth	Pair Corr
0.85	OSMCX	Oppenheimer International	Pair Corr
0.9	DGEFX	Destinations Equity	Pair Corr
0.91	PQTNX	Pimco Trends Managed	Pair Corr

Moving against Amana Mutual Fund

0.76	ODVYX	Oppenheimer Developing	Pair Corr
0.56	USPSX	Profunds Ultrashort	Pair Corr
0.45	TCTGX	Transamerica Cleartrack	Pair Corr
0.44	TDKTX	Cleartrack 2015 Class	Pair Corr
0.42	FNFWX	American Funds New	Pair Corr
0.34	FWWNX	American Funds New	Pair Corr
0.83	UIPIX	Ultrashort Mid Cap	Pair Corr
0.55	USPIX	Profunds Ultrashort	Pair Corr
0.48	TCSUX	Cleartrack 2020 Class	Pair Corr
0.45	TCTJX	Transamerica Cleartrack	Pair Corr
0.4	PDI	Pimco Dynamic Income	Pair Corr

Related Correlations Analysis

	AMIDX	JNVSX	ICPAX	LPDAX	MECDX	WSBFX	CBLLX	FLRUX	ASQIX	WELNX
AMIDX		0.57	0.16	0.52	0.86	0.91	0.66	0.9	0.92	0.18	AMIDX
JNVSX	0.57		0.3	0.22	0.61	0.64	0.93	0.53	0.59	-0.48	JNVSX
ICPAX	0.16	0.3		0.45	0.25	0.06	0.35	0.11	0.13	0.18	ICPAX
LPDAX	0.52	0.22	0.45		0.63	0.43	0.29	0.65	0.59	0.27	LPDAX
MECDX	0.86	0.61	0.25	0.63		0.82	0.69	0.81	0.89	-0.04	MECDX
WSBFX	0.91	0.64	0.06	0.43	0.82		0.71	0.86	0.9	-0.03	WSBFX
CBLLX	0.66	0.93	0.35	0.29	0.69	0.71		0.65	0.7	-0.4	CBLLX
FLRUX	0.9	0.53	0.11	0.65	0.81	0.86	0.65		0.94	0.08	FLRUX
ASQIX	0.92	0.59	0.13	0.59	0.89	0.9	0.7	0.94		0.02	ASQIX
WELNX	0.18	-0.48	0.18	0.27	-0.04	-0.03	-0.4	0.08	0.02		WELNX
	AMIDX	JNVSX	ICPAX	LPDAX	MECDX	WSBFX	CBLLX	FLRUX	ASQIX	WELNX

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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

ASQIX	+ 0.94	FLRUX
CBLLX	+ 0.93	JNVSX
ASQIX	+ 0.92	AMIDX
WSBFX	+ 0.91	AMIDX
FLRUX	+ 0.9	AMIDX
ASQIX	+ 0.9	WSBFX

High negative correlations

WELNX	- 0.48	JNVSX
WELNX	- 0.4	CBLLX
WELNX	- 0.04	MECDX
WELNX	- 0.03	WSBFX

Risk-Adjusted Indicators

There is a big difference between Amana Mutual Fund performing well and Amana Developing 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 Amana Developing'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
AMIDX	0.67	0.11	0.09	0.21	0.71	(0.75)	1.73	(1.09)	4.93
JNVSX	0.74	0.13	0.07	1.88	0.60	(1.00)	1.38	(1.02)	13.17
ICPAX	0.89	0.02	(0.03)	0.21	1.25	(0.89)	1.85	(1.97)	4.64
LPDAX	0.68	(0.03)	0.00	(0.08)	0.00	0.00	1.10	(1.62)	5.35
MECDX	0.71	0.14	0.10	0.89	0.64	(0.77)	1.16	(1.19)	9.75
WSBFX	0.45	0.12	0.17	0.40	0.00	(0.57)	0.90	(0.57)	7.37
CBLLX	0.39	0.04	(0.05)	0.80	0.35	(0.57)	1.28	(0.81)	2.58
FLRUX	0.24	(0.01)	(0.16)	0.05	0.23	(0.29)	0.54	(0.55)	1.99
ASQIX	0.92	0.01	0.03	0.08	1.09	(0.96)	2.05	(1.84)	4.48
WELNX	0.75	0.02	0.00	0.11	1.12	(0.75)	1.99	(1.62)	5.40

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