Angel Oak Correlations

ANGLX Fund

USD 8.69 0.01 0.12%

The current 90-days correlation between Angel Oak Multi and Alliancebernstein Global Highome is 0.07 (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

Average diversification

The correlation between Angel Oak Multi Strategy and DJI is 0.13 (i.e., Average 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 bureau of economic analysis.

Moving together with Angel Mutual Fund

0.99	ANGCX	Angel Oak Multi	Pair Corr
0.87	DSL	Doubleline Income	Pair Corr
0.82	AOUNX	Angel Oak Ultrashort	Pair Corr
0.94	PONAX	Pimco Income	Pair Corr
0.93	PONCX	Pimco Income	Pair Corr
0.94	PIPNX	Pimco Income	Pair Corr
0.94	PONRX	Pimco Income	Pair Corr
0.94	PONPX	Pimco Incme Fund	Pair Corr
0.94	PIINX	Pimco Income	Pair Corr
0.92	PIMIX	Pimco Income	Pair Corr
0.71	LBNDX	Lord Abbett Bond	Pair Corr
0.72	FSTAX	Fidelity Advisor Str	Pair Corr
0.74	FSRIX	Fidelity Advisor Str	Pair Corr
0.72	REMVX	Rbc Emerging Markets Potential Growth	Pair Corr
0.86	JHYUX	Jpmorgan High Yield	Pair Corr
0.78	RRQPX	American Funds Retirement	Pair Corr
0.62	PAAOX	T Rowe Price	Pair Corr
0.92	JGIAX	Jpmorgan Income	Pair Corr
0.8	PWLEX	Pimco Rae Worldwide	Pair Corr
0.94	BSIIX	Blackrock Strategic	Pair Corr
0.76	DHIYX	Diamond Hill Interna	Pair Corr
0.81	AGDZX	Ab High Income	Pair Corr
0.63	PYLMX	Payden Limited Maturity	Pair Corr
0.77	RULFX	Rbc Ultra Short	Pair Corr
0.83	TIERX	Tiaa Cref International	Pair Corr
0.9	PDVAX	Diversified Income	Pair Corr
0.93	UASBX	Short Term Bond	Pair Corr
0.83	SEBFX	Saturna Sustainable Bond	Pair Corr

Moving against Angel Mutual Fund

0.53	SMPIX	Semiconductor Ultrasector	Pair Corr
0.53	SMPSX	Semiconductor Ultrasector	Pair Corr
0.41	RGNCX	Victory Global Natural	Pair Corr
0.4	RSNYX	Victory Global Natural	Pair Corr
0.4	RSNRX	Victory Global Natural	Pair Corr
0.36	FIKGX	Fidelity Advisor Sem	Pair Corr
0.36	FELIX	Fidelity Advisor Sem	Pair Corr
0.33	FSELX	Fidelity Select Semi	Pair Corr

Related Correlations Analysis

	XAWFX	MFIRX	DBLGX	DBIWX	DHGCX	WRLDX	ANAGX
XAWFX		0.34	0.84	0.66	0.81	0.74	0.83	XAWFX
MFIRX	0.34		0.45	0.87	0.62	0.39	0.51	MFIRX
DBLGX	0.84	0.45		0.67	0.94	0.84	0.85	DBLGX
DBIWX	0.66	0.87	0.67		0.74	0.66	0.72	DBIWX
DHGCX	0.81	0.62	0.94	0.74		0.72	0.91	DHGCX
WRLDX	0.74	0.39	0.84	0.66	0.72		0.61	WRLDX
ANAGX	0.83	0.51	0.85	0.72	0.91	0.61		ANAGX
	XAWFX	MFIRX	DBLGX	DBIWX	DHGCX	WRLDX	ANAGX

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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
XAWFX	0.13	0.00	0.08	0.32	0.20	(0.14)	0.26	(0.44)	1.15
MFIRX	0.11	0.03	0.22	0.67	0.00	(0.21)	0.19	(0.19)	0.76
DBLGX	0.25	0.01	0.14	0.09	0.20	(0.36)	0.62	(0.36)	1.45
DBIWX	0.23	0.03	0.15	(0.47)	0.25	(0.27)	0.59	(0.39)	1.86
DHGCX	0.17	0.02	0.21	0.23	0.06	(0.23)	0.37	(0.36)	1.10
WRLDX	0.53	0.02	0.03	(0.01)	0.82	(0.51)	0.94	(1.14)	3.49
ANAGX	0.19	0.01	0.16	(0.56)	0.11	(0.28)	0.44	(0.29)	1.17

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