Buffalo Mid Correlations

BUIMX Fund

USD 18.68 0.04 0.21%

The current 90-days correlation between Buffalo Mid Cap and Qs Large Cap is 0.02 (i.e., Significant diversification). The correlation of Buffalo Mid 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.

Buffalo Mid Correlation With Market

Very poor diversification

The correlation between Buffalo Mid Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Buffalo Mid Cap 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 Buffalo Mid Cap. 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 population.

Moving together with Buffalo Mutual Fund

0.89	BUFSX	Buffalo Small Cap	Pair Corr
0.84	BUFOX	Buffalo Emerging Opp	Pair Corr
0.95	BUFMX	Buffalo Mid Cap	Pair Corr
0.89	BUFGX	Buffalo Growth	Pair Corr
0.85	BUFHX	Buffalo High Yield	Pair Corr
0.91	BUFEX	Buffalo Large Cap	Pair Corr
0.92	BUFDX	Buffalo Dividend Focus	Pair Corr
0.98	BUFTX	Buffalo Discovery	Pair Corr
0.98	BUITX	Buffalo Discovery	Pair Corr
0.89	BUISX	Buffalo Small Cap	Pair Corr
0.92	BUIOX	Buffalo Early Stage	Pair Corr
0.84	BUIHX	Buffalo High Yield	Pair Corr
0.91	BUIEX	Buffalo Large Cap	Pair Corr
0.96	BUIDX	Buffalo Dividend Focus	Pair Corr
0.94	BIIGX	Buffalo Growth	Pair Corr
0.98	PAMCX	T Rowe Price	Pair Corr
0.97	RRMGX	T Rowe Price	Pair Corr
0.98	TRQZX	T Rowe Price	Pair Corr
0.91	RPMGX	T Rowe Price	Pair Corr
0.97	PRJIX	T Rowe Price	Pair Corr
0.97	PRNHX	T Rowe Price	Pair Corr
0.98	TRUZX	T Rowe Price	Pair Corr
0.98	PCBIX	Midcap Fund Institutional	Pair Corr
0.93	PEMGX	Midcap Fund Class	Pair Corr
0.98	PMBCX	Midcap Fund Class	Pair Corr
0.92	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.91	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.91	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.91	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.91	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.86	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.86	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.92	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.86	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.91	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr

Moving against Buffalo Mutual Fund

0.62	BUFIX	Buffalo International	Pair Corr
0.61	BUIIX	Buffalo International	Pair Corr

Related Correlations Analysis

	LMUSX	VOLJX	TMVAX	WRLDX	CPUCX
LMUSX		0.83	0.87	0.77	-0.72	LMUSX
VOLJX	0.83		0.78	0.75	-0.34	VOLJX
TMVAX	0.87	0.78		0.78	-0.62	TMVAX
WRLDX	0.77	0.75	0.78		-0.34	WRLDX
CPUCX	-0.72	-0.34	-0.62	-0.34		CPUCX
	LMUSX	VOLJX	TMVAX	WRLDX	CPUCX

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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

TMVAX	+ 0.87	LMUSX
VOLJX	+ 0.83	LMUSX
TMVAX	+ 0.78	VOLJX
WRLDX	+ 0.78	TMVAX
WRLDX	+ 0.77	LMUSX
WRLDX	+ 0.75	VOLJX

High negative correlations

CPUCX	- 0.72	LMUSX
CPUCX	- 0.62	TMVAX
CPUCX	- 0.34	WRLDX
CPUCX	- 0.34	VOLJX

Risk-Adjusted Indicators

There is a big difference between Buffalo Mutual Fund performing well and Buffalo Mid 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 Buffalo Mid'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
LMUSX	0.61	0.12	0.00	2.44	0.73	(0.69)	1.28	(1.49)	4.08
VOLJX	0.77	0.07	(0.04)	(1.62)	1.21	(0.74)	1.47	(2.02)	4.97
TMVAX	0.88	(0.01)	0.02	0.11	0.80	(1.08)	2.28	(1.70)	8.08
WRLDX	0.48	(0.03)	(0.13)	0.08	0.45	(0.56)	0.92	(0.97)	2.75
CPUCX	0.24	(0.02)	0.00	0.61	0.00	0.00	0.44	(0.54)	1.29

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