World Energy Correlations

APWEX Fund

USD 15.56 0.32 2.10%

The current 90-days correlation between World Energy and Vanguard Energy Fund is 0.73 (i.e., Poor diversification). The correlation of World Energy 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.

World Energy Correlation With Market

Poor diversification

The correlation between World Energy Fund and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding World Energy Fund 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 World Energy Fund. 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 income.

Moving together with World Mutual Fund

0.72	APUSX	Cavanal Hill Ultra	Pair Corr
0.9	AALIX	Astonherndon Large Cap	Pair Corr
0.79	AAUSX	Cavanal Hill Ultra	Pair Corr
1.0	AAWEX	World Energy	Pair Corr
1.0	ACWEX	World Energy	Pair Corr
0.88	AILIX	Cavanal Hill Hedged	Pair Corr
1.0	AIWEX	World Energy	Pair Corr
0.79	VGELX	Vanguard Energy	Pair Corr
0.79	VGENX	Vanguard Energy	Pair Corr
0.92	VENAX	Vanguard Energy Index	Pair Corr
0.67	FSENX	Fidelity Select Port	Pair Corr
0.65	FNRCX	Fidelity Advisor Energy	Pair Corr
0.66	FANAX	Fidelity Advisor Energy	Pair Corr
0.73	FAGNX	Fidelity Advisor Energy	Pair Corr
0.74	FANIX	Fidelity Advisor Energy	Pair Corr
0.89	IENIX	Invesco Energy	Pair Corr
0.88	LLPFX	Longleaf Partners	Pair Corr
0.8	FEMDX	Franklin Emerging Market	Pair Corr
0.87	FBALX	Fidelity Balanced	Pair Corr
0.92	RQECX	Resq Dynamic Allocation	Pair Corr
0.94	VTSMX	Vanguard Total Stock	Pair Corr
0.83	SCRYX	Small Cap Core	Pair Corr

Moving against World Mutual Fund

0.85	APBDX	Bond Fund Investor	Pair Corr
0.85	AABOX	Bond Fund Class	Pair Corr
0.84	AIBNX	Bond Fund Institutional	Pair Corr
0.78	APENX	Strategic Enhanced Yield	Pair Corr
0.77	AIENX	Strategic Enhanced Yield	Pair Corr
0.59	APSTX	Limited Duration	Pair Corr
0.49	AISTX	Limited Duration	Pair Corr
0.48	AASTX	Limited Duration	Pair Corr
0.81	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.71	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.61	PG	Procter Gamble	Pair Corr
0.5	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	VGELX	VENAX	FSENX	FNRCX	FANAX	FAGNX	FANIX	FNARX
VGELX		0.84	0.71	0.69	0.7	0.81	0.82	0.58	VGELX
VENAX	0.84		0.82	0.81	0.82	0.91	0.92	0.57	VENAX
FSENX	0.71	0.82		1.0	1.0	0.9	0.9	0.85	FSENX
FNRCX	0.69	0.81	1.0		1.0	0.9	0.9	0.85	FNRCX
FANAX	0.7	0.82	1.0	1.0		0.9	0.9	0.85	FANAX
FAGNX	0.81	0.91	0.9	0.9	0.9		1.0	0.76	FAGNX
FANIX	0.82	0.92	0.9	0.9	0.9	1.0		0.75	FANIX
FNARX	0.58	0.57	0.85	0.85	0.85	0.76	0.75		FNARX
	VGELX	VENAX	FSENX	FNRCX	FANAX	FAGNX	FANIX	FNARX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World Energy 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 World Energy'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
VGELX	0.51	0.03	(0.04)	0.19	0.63	(0.49)	1.04	(1.07)	2.72
VENAX	0.94	0.07	0.04	0.18	1.15	(0.93)	1.82	(2.09)	5.16
FSENX	0.94	0.06	(0.02)	2.29	1.26	(0.89)	2.07	(2.13)	5.82
FNRCX	0.94	0.06	(0.03)	2.20	1.29	(0.91)	2.04	(2.12)	5.83
FANAX	0.94	0.06	(0.02)	2.47	1.29	(0.89)	2.06	(2.13)	5.83
FAGNX	0.96	0.00	(0.01)	0.11	1.28	(0.92)	2.05	(2.12)	5.82
FANIX	0.96	0.01	(0.01)	0.11	1.28	(0.92)	2.07	(2.13)	5.83
FNARX	0.87	0.00	(0.07)	0.03	1.31	(0.78)	1.75	(1.60)	5.80

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC