World Energy Correlations

Mutual Funds . USA . 
Fund . World Energy Fund
APWEX Fund  USD 14.34  0.28  1.99%   
The current 90-days correlation between World Energy and Gold And Precious is 0.52 (i.e., Very weak 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.
  
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

  0.77APLIX Cavanal Hill HedgedPairCorr
  0.68AALIX Astonherndon Large CapPairCorr
  0.88AAWEX World EnergyPairCorr
  0.93ACWEX World EnergyPairCorr
  0.79AILIX Cavanal Hill HedgedPairCorr
  1.0AIWEX World EnergyPairCorr
  0.71VENAX Vanguard Energy IndexPairCorr
  0.84FSENX Fidelity Select PortPairCorr
  0.85FNRCX Fidelity Advisor EnergyPairCorr
  0.85FANAX Fidelity Advisor EnergyPairCorr
  0.83FAGNX Fidelity Advisor EnergyPairCorr
  0.85FANIX Fidelity Advisor EnergyPairCorr
  0.62IENIX Invesco EnergyPairCorr
  0.7GPMFX Guidepath Managed FuturesPairCorr

Moving against WORLD Mutual Fund

  0.56APENX Strategic Enhanced YieldPairCorr
  0.55APBDX Bond Fund InvestorPairCorr
  0.55AABOX Bond Fund ClassPairCorr
  0.55AASTX Limited DurationPairCorr
  0.54AIBNX Bond Fund InstitutionalPairCorr
  0.54AISTX Limited DurationPairCorr
  0.53APSTX Limited DurationPairCorr
  0.52AAENX Strategic Enhanced YieldPairCorr
  0.52AIENX Strategic Enhanced YieldPairCorr
  0.57GPBFX Gmo E PlusPairCorr
  0.56GAAGX Gmo Alternative AlloPairCorr
  0.55GAAKX Gmo Alternative AlloPairCorr
  0.46TECIX T Rowe PricePairCorr
  0.38ACEVX International ValuePairCorr
  0.38ISIAX Voya Strategic IncomePairCorr
  0.35DIEYX Dreyfus InternationalPairCorr

Related Correlations Analysis

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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.

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