Angel Oak Correlations

ANGCX Fund

USD 8.55 0.01 0.12%

The current 90-days correlation between Angel Oak Multi and Rbc Microcap Value is 0.05 (i.e., Significant diversification). The correlation of Angel Oak 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.

Angel Oak Correlation With Market

Significant diversification

The correlation between Angel Oak Multi Strategy and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Angel Oak Multi Strategy 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 Angel Oak Multi Strategy. 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 main economic indicators.

Moving together with Angel Mutual Fund

0.99	ANGLX	Angel Oak Multi	Pair Corr
0.97	ANGIX	Angel Oak Multi	Pair Corr
0.68	DSL	Doubleline Income	Pair Corr
0.94	PONAX	Pimco Income	Pair Corr
0.93	PONCX	Pimco Income	Pair Corr
0.93	PIPNX	Pimco Income	Pair Corr
0.94	PONRX	Pimco Income	Pair Corr
0.94	PONPX	Pimco Incme Fund	Pair Corr
0.93	PIINX	Pimco Income	Pair Corr
0.94	PIMIX	Pimco Income	Pair Corr
0.63	FSTAX	Fidelity Advisor Str	Pair Corr
0.63	FSRIX	Fidelity Advisor Str	Pair Corr

Moving against Angel Mutual Fund

0.42	VITSX	Vanguard Total Stock	Pair Corr
0.41	VFIAX	Vanguard 500 Index	Pair Corr
0.38	VSTSX	Vanguard Total Stock	Pair Corr
0.38	VSMPX	Vanguard Total Stock	Pair Corr
0.37	VFFSX	Vanguard 500 Index	Pair Corr
0.69	BITW	Bitwise 10 Crypto	Pair Corr
0.56	XNDPX	Tortoise Energy Inde	Pair Corr
0.48	RLSIX	Riverpark Long/short	Pair Corr
0.44	AMONX	Aqr Large Cap	Pair Corr
0.44	LMISX	Qs Large Cap	Pair Corr
0.41	DLCIX	Dana Large Cap	Pair Corr
0.41	RGAGX	Growth Fund	Pair Corr
0.41	VFINX	Vanguard 500 Index	Pair Corr
0.4	EGLAX	Eagle Mlp Strategy	Pair Corr
0.38	VTSAX	Vanguard Total Stock	Pair Corr
0.37	VINIX	Vanguard Institutional	Pair Corr
0.34	SCRYX	Small Cap Core	Pair Corr
0.31	FBALX	Fidelity Balanced	Pair Corr

Related Correlations Analysis

	TMVAX	LTFXX	IAADX	FALCX	XMHFX	ADOIX
TMVAX		0.26	-0.07	0.0	-0.62	0.8	TMVAX
LTFXX	0.26		0.34	0.0	-0.16	0.23	LTFXX
IAADX	-0.07	0.34		0.0	0.52	0.01	IAADX
FALCX	0.0	0.0	0.0		0.0	0.0	FALCX
XMHFX	-0.62	-0.16	0.52	0.0		-0.7	XMHFX
ADOIX	0.8	0.23	0.01	0.0	-0.7		ADOIX
	TMVAX	LTFXX	IAADX	FALCX	XMHFX	ADOIX

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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

ADOIX	+ 0.8	TMVAX
XMHFX	+ 0.52	IAADX
IAADX	+ 0.34	LTFXX
LTFXX	+ 0.26	TMVAX
ADOIX	+ 0.23	LTFXX
ADOIX	+ 0.01	IAADX

High negative correlations

ADOIX	- 0.7	XMHFX
XMHFX	- 0.62	TMVAX
XMHFX	- 0.16	LTFXX
IAADX	- 0.07	TMVAX
ADOIX	- 0.0	FALCX
XMHFX	- 0.0	FALCX

Risk-Adjusted Indicators

There is a big difference between Angel Mutual Fund performing well and Angel Oak 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 Angel Oak'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
TMVAX	0.88	0.04	0.06	0.12	0.78	(1.11)	2.29	(1.70)	8.08
LTFXX	0.03	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	1.01
IAADX	0.17	(0.01)	(0.44)	(0.29)	0.16	(0.24)	0.43	(0.32)	1.19
FALCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XMHFX	0.16	(0.03)	0.00	(0.36)	0.00	0.00	0.28	(0.41)	1.52
ADOIX	0.46	0.00	(0.05)	0.09	0.63	(0.47)	1.16	(1.22)	3.31

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