Madison Dividend Correlations

BHBFX Fund

USD 24.75 0.22 0.90%

The current 90-days correlation between Madison Dividend Income and Platinum Asia Investments is 0.02 (i.e., Significant diversification). The correlation of Madison Dividend 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.

Madison Dividend Correlation With Market

Good diversification

The correlation between Madison Dividend Income and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Dividend Income 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 Madison Dividend Income. 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 census.

Moving together with Madison Mutual Fund

0.77	BVAOX	Broadview Opportunity	Pair Corr
1.0	MADAX	Madison Dividend Income	Pair Corr
0.63	MADRX	Madison Funds	Pair Corr
0.63	MDMIX	Madison Dividend Income	Pair Corr
0.78	MENIX	Madison Funds	Pair Corr

Moving against Madison Mutual Fund

0.55	MENYX	Madison Ered Call	Pair Corr
0.48	RLNCX	International Developed	Pair Corr
0.47	AWSHX	Washington Mutual	Pair Corr
0.47	WSHCX	Washington Mutual	Pair Corr
0.46	AMFFX	American Mutual	Pair Corr
0.46	AMFCX	American Mutual	Pair Corr
0.46	NHS	Neuberger Berman High Normal Trading	Pair Corr
0.38	MFTTX	Arrow Managed Futures	Pair Corr

Related Correlations Analysis

	PAI	RIPNX	LGDX	EKGAX	EKGCX	FLBDX	TSCPX	TQGEX	TMLPX	CXE
PAI		0.7	0.33	0.35	-0.19	-0.22	0.36	0.33	0.11	0.09	PAI
RIPNX	0.7		0.26	0.23	-0.25	-0.21	0.0	0.02	-0.17	-0.05	RIPNX
LGDX	0.33	0.26		0.82	0.26	0.43	0.66	0.73	0.15	0.46	LGDX
EKGAX	0.35	0.23	0.82		0.34	0.6	0.84	0.84	0.24	0.48	EKGAX
EKGCX	-0.19	-0.25	0.26	0.34		0.36	0.26	0.26	0.48	0.37	EKGCX
FLBDX	-0.22	-0.21	0.43	0.6	0.36		0.53	0.46	0.08	0.19	FLBDX
TSCPX	0.36	0.0	0.66	0.84	0.26	0.53		0.96	0.36	0.43	TSCPX
TQGEX	0.33	0.02	0.73	0.84	0.26	0.46	0.96		0.37	0.48	TQGEX
TMLPX	0.11	-0.17	0.15	0.24	0.48	0.08	0.36	0.37		0.22	TMLPX
CXE	0.09	-0.05	0.46	0.48	0.37	0.19	0.43	0.48	0.22		CXE
	PAI	RIPNX	LGDX	EKGAX	EKGCX	FLBDX	TSCPX	TQGEX	TMLPX	CXE

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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

TQGEX	+ 0.96	TSCPX
TSCPX	+ 0.84	EKGAX
TQGEX	+ 0.84	EKGAX
EKGAX	+ 0.82	LGDX
TQGEX	+ 0.73	LGDX
RIPNX	+ 0.7	PAI

High negative correlations

EKGCX	- 0.25	RIPNX
FLBDX	- 0.22	PAI
FLBDX	- 0.21	RIPNX
EKGCX	- 0.19	PAI
TMLPX	- 0.17	RIPNX
CXE	- 0.05	RIPNX

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Dividend 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 Madison Dividend'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
PAI	0.30	(0.03)	0.00	(2.10)	0.00	0.00	0.64	(0.56)	2.29
RIPNX	0.49	(0.07)	0.00	(0.26)	0.00	0.00	1.05	(1.22)	2.28
LGDX	0.60	(0.03)	(0.04)	0.03	0.94	(0.54)	1.16	(1.32)	3.41
EKGAX	0.64	(0.05)	(0.05)	0.02	0.90	(0.64)	1.32	(1.04)	3.95
EKGCX	0.58	(0.05)	0.00	(0.55)	0.00	0.00	1.12	(1.64)	3.15
FLBDX	0.11	0.00	(0.36)	0.11	0.07	(0.13)	0.21	(0.21)	0.72
TSCPX	1.02	0.11	0.09	0.18	1.10	(1.19)	2.28	(1.90)	7.91
TQGEX	0.56	0.04	0.02	0.12	0.73	(0.59)	1.16	(1.04)	3.03
TMLPX	0.62	(0.03)	(0.09)	(0.01)	0.80	(0.69)	1.06	(1.51)	3.11
CXE	0.42	(0.01)	(0.11)	0.00	0.51	(0.52)	0.82	(0.82)	2.45

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