Angel Oak Correlations

AOUIX Fund

USD 9.85 0.01 0.10%

The current 90-days correlation between Angel Oak Ultrashort and Bbh Intermediate Municipal is 0.56 (i.e., Very weak 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Angel Oak Ultrashort. 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 gross domestic product.

Moving together with Angel Mutual Fund

0.79	ANGCX	Angel Oak Multi	Pair Corr
0.83	ANGLX	Angel Oak Multi	Pair Corr
0.84	ANGIX	Angel Oak Multi	Pair Corr
0.71	DSL	Doubleline Income	Pair Corr
1.0	AOUNX	Angel Oak Ultrashort	Pair Corr
1.0	AOUAX	Angel Oak Ultrashort	Pair Corr
0.99	PTSPX	Pimco Short Term	Pair Corr
0.99	PTSHX	Short Term Fund	Pair Corr
0.98	PSFAX	Short Term Fund	Pair Corr
0.99	PTSRX	Short Term Fund	Pair Corr
0.99	PSDNX	Putnam Ultra Short	Pair Corr
1.0	LUSNX	Lord Abbett Ultra	Pair Corr
0.96	VUBFX	Vanguard Ultra-short-term	Pair Corr
0.99	PSDRX	Putnam Short Duration	Pair Corr
1.0	PSDYX	Putnam Short Duration	Pair Corr
0.61	MHITX	Mfs High Income	Pair Corr
0.62	ADOCX	Alger Dynamic Opport	Pair Corr
0.82	AHIFX	American High Income	Pair Corr

Related Correlations Analysis

	BBINX	TAHYX	GMDPX	BXHCX	OWCAX	SGYAX	FCSCX
BBINX		0.62	0.35	0.74	0.97	0.44	0.25	BBINX
TAHYX	0.62		0.82	0.91	0.45	0.91	0.77	TAHYX
GMDPX	0.35	0.82		0.74	0.19	0.97	0.97	GMDPX
BXHCX	0.74	0.91	0.74		0.59	0.82	0.63	BXHCX
OWCAX	0.97	0.45	0.19	0.59		0.27	0.09	OWCAX
SGYAX	0.44	0.91	0.97	0.82	0.27		0.95	SGYAX
FCSCX	0.25	0.77	0.97	0.63	0.09	0.95		FCSCX
	BBINX	TAHYX	GMDPX	BXHCX	OWCAX	SGYAX	FCSCX

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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
BBINX	0.13	0.00	(0.01)	(0.03)	0.14	(0.18)	0.29	(0.29)	1.17
TAHYX	0.14	0.01	0.05	0.23	0.04	(0.22)	0.46	(0.23)	1.15
GMDPX	0.09	0.00	0.03	0.24	0.00	(0.17)	0.22	(0.22)	0.65
BXHCX	0.12	0.00	(0.01)	(0.01)	0.10	(0.18)	0.25	(0.25)	1.11
OWCAX	0.11	0.00	(0.01)	(0.05)	0.12	(0.15)	0.21	(0.31)	0.72
SGYAX	0.16	0.02	0.11	0.75	0.00	(0.28)	0.57	(0.28)	1.28
FCSCX	0.06	0.01	0.04	0.37	0.00	(0.22)	0.13	(0.13)	0.67

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Angel Oak Correlations

Moving together with Angel Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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