Angel Oak Correlations

ANGLX Fund

USD 8.64 0.01 0.12%

The current 90-days correlation between Angel Oak Multi and Angel Oak Multi Strategy is 0.86 (i.e., Very poor 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

Good diversification

The correlation between Angel Oak Multi Strategy and DJI is -0.09 (i.e., Good 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
0.99	ANGIX	Angel Oak Multi	Pair Corr
0.63	DSL	Doubleline Income	Pair Corr
0.95	PONAX	Pimco Income	Pair Corr
0.94	PONCX	Pimco Income	Pair Corr
0.94	PIPNX	Pimco Income	Pair Corr
0.95	PONRX	Pimco Income	Pair Corr
0.95	PONPX	Pimco Incme Fund	Pair Corr
0.94	PIINX	Pimco Income	Pair Corr
0.95	PIMIX	Pimco Income	Pair Corr
0.62	FSTAX	Fidelity Advisor Str	Pair Corr
0.62	FSRIX	Fidelity Advisor Str	Pair Corr

Moving against Angel Mutual Fund

0.56	VTSAX	Vanguard Total Stock	Pair Corr
0.54	VFIAX	Vanguard 500 Index	Pair Corr
0.48	VTSMX	Vanguard Total Stock	Pair Corr
0.48	VSMPX	Vanguard Total Stock	Pair Corr
0.48	VSTSX	Vanguard Total Stock	Pair Corr
0.48	VITSX	Vanguard Total Stock	Pair Corr
0.47	VFINX	Vanguard 500 Index	Pair Corr
0.47	VFFSX	Vanguard 500 Index	Pair Corr
0.54	VIGAX	Vanguard Growth Index	Pair Corr
0.53	LTFOX	Lord Abbett Affiliated	Pair Corr
0.53	GRSPX	Greenspring Fund Retail	Pair Corr
0.49	RQECX	Resq Dynamic Allocation	Pair Corr
0.48	SMERX	Invesco Small Cap	Pair Corr
0.47	INDEX	Sp 500 Equal	Pair Corr
0.47	FXAIX	Fidelity 500 Index	Pair Corr
0.46	AGTHX	Growth Fund	Pair Corr
0.42	LLPFX	Longleaf Partners	Pair Corr
0.42	CMEUX	Six Circles Managed	Pair Corr
0.42	SCRYX	Small Cap Core	Pair Corr
0.4	RWSIX	Redwood Systematic Macro	Pair Corr
0.38	FPURX	Fidelity Puritan	Pair Corr
0.38	VWELX	Vanguard Wellington	Pair Corr

Related Correlations Analysis

	ANGCX	DSL	AOUNX	AOUIX	AOUAX
ANGCX		0.64	-0.19	-0.22	-0.21	ANGCX
DSL	0.64		0.0	0.01	-0.01	DSL
AOUNX	-0.19	0.0		0.98	1.0	AOUNX
AOUIX	-0.22	0.01	0.98		0.98	AOUIX
AOUAX	-0.21	-0.01	1.0	0.98		AOUAX
	ANGCX	DSL	AOUNX	AOUIX	AOUAX

Click cells to compare fundamentals

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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

AOUAX	+ 1.0	AOUNX
AOUIX	+ 0.98	AOUNX
AOUAX	+ 0.98	AOUIX
DSL	+ 0.64	ANGCX
AOUIX	+ 0.01	DSL
AOUNX	+ 0.0	DSL

High negative correlations

AOUIX	- 0.22	ANGCX
AOUAX	- 0.21	ANGCX
AOUNX	- 0.19	ANGCX
AOUAX	- 0.01	DSL
AOUNX	- 0.0	DSL

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
ANGCX	0.09	(0.01)	(0.76)	0.34	0.10	(0.15)	0.12	(0.23)	0.70
DSL	0.45	(0.01)	(0.20)	0.06	0.47	(0.58)	1.11	(0.87)	2.90
AOUNX	0.05	0.01	(1.02)	(5.43)	0.00	(0.22)	0.10	(0.10)	0.61
AOUIX	0.05	0.01	(0.99)	(1.40)	0.00	(0.18)	0.10	(0.10)	0.51
AOUAX	0.06	0.01	(1.03)	(1.63)	0.00	(0.19)	0.10	(0.10)	0.51

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