Angel Oak Correlations

Mutual Funds . USA . 
Fund . Angel Oak Ultrashort
AOUNX Fund  USD 9.83  0.01  0.10%   
The current 90-days correlation between Angel Oak Ultrashort and World Precious Minerals is 0.01 (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

Good diversification

The correlation between Angel Oak Ultrashort and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Angel Oak Ultrashort 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 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 board of governors.

Moving together with Angel Mutual Fund

  0.78ANGCX Angel Oak MultiPairCorr
  0.82ANGLX Angel Oak MultiPairCorr
  0.84ANGIX Angel Oak MultiPairCorr
  0.71DSL Doubleline IncomePairCorr
  1.0AOUIX Angel Oak UltrashortPairCorr
  1.0AOUAX Angel Oak UltrashortPairCorr
  0.99PTSPX Pimco Short TermPairCorr
  0.99PTSHX Short Term FundPairCorr
  0.98PSFAX Short Term FundPairCorr
  0.99PTSRX Short Term FundPairCorr
  0.99PSDNX Putnam Ultra ShortPairCorr
  1.0LUSNX Lord Abbett UltraPairCorr
  0.96VUBFX Vanguard Ultra-short-termPairCorr
  0.99PSDRX Putnam Short DurationPairCorr
  0.99PSDYX Putnam Short DurationPairCorr
  0.98AGVRX Invesco GovernmentPairCorr
  0.95TMPFX Tactical Multi PurposePairCorr
  0.91PLDSX Pacific Funds ShortPairCorr
  0.8INPIX Internet UltrasectorPairCorr
  0.67LGPSX Profunds Large CapPairCorr
  0.87DTICX Delaware Limited TermPairCorr
  0.86MBDBX Msvif Emerging MktsPairCorr
  0.69PMDRX Moderate DurationPairCorr
  0.61CSQ Calamos Strategic TotalPairCorr
  0.65PONRX Pimco IncomePairCorr
  0.61BXECX Barings Emerging MarketsPairCorr

Related Correlations Analysis

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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.

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