Coho Relative Correlations

CESGX Fund

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The current 90-days correlation between Coho Relative Value and Vanguard Value Index is 0.05 (i.e., Significant diversification). The correlation of Coho Relative 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.

Coho Relative Correlation With Market

Good diversification

The correlation between Coho Relative Value and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coho Relative Value and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. 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 Coho Mutual Fund

0.91

COHOX

Coho Relative Value

Pair Corr

Moving against Coho Mutual Fund

0.73	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.73	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	VVIAX	Vanguard Value Index	Pair Corr
0.85	BITIX	Profunds Short Bitcoin	Pair Corr
0.82	LARCX	Floating Rate	Pair Corr
0.73	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.72	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.71	OLCAX	Oppenheimer Rochester	Pair Corr
0.69	PCCPX	Pimco Rae Fundamental	Pair Corr
0.63	SWHFX	Schwab Health Care	Pair Corr
0.57	NASDX	Nasdaq 100 Index	Pair Corr
0.55	ARTHX	Artisan Global Equity	Pair Corr
0.55	SVPIX	Small Cap Value	Pair Corr
0.52	JBYSX	Jpmorgan Smartretirement	Pair Corr
0.52	DRRCX	Dreyfus Global Real	Pair Corr
0.44	SPGTX	Symmetry Panoramic Tax	Pair Corr
0.44	FTCWX	Fidelity Asset Manager	Pair Corr
0.4	ABNDX	Bond Fund	Pair Corr
0.38	SDRCX	Swan Defined Risk	Pair Corr
0.35	FSMEX	Medical Equipment And	Pair Corr
0.8	VGHAX	Vanguard Health Care	Pair Corr
0.76	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.72	FGYMX	Fidelity New Markets	Pair Corr
0.68	LCCIX	Leader Short Term	Pair Corr

Related Correlations Analysis

	VVIAX	AWSHX	WSHCX	WSHFX	FWWMX	FWMMX	DODGX	AMRMX	AMFFX	AMFCX
VVIAX		0.37	0.35	0.41	0.41	0.41	0.82	-0.06	-0.06	-0.05	VVIAX
AWSHX	0.37		1.0	0.82	0.82	0.82	0.23	0.73	0.73	0.54	AWSHX
WSHCX	0.35	1.0		0.81	0.81	0.81	0.23	0.74	0.74	0.55	WSHCX
WSHFX	0.41	0.82	0.81		1.0	1.0	0.29	0.77	0.77	0.74	WSHFX
FWWMX	0.41	0.82	0.81	1.0		1.0	0.29	0.77	0.77	0.73	FWWMX
FWMMX	0.41	0.82	0.81	1.0	1.0		0.29	0.77	0.77	0.73	FWMMX
DODGX	0.82	0.23	0.23	0.29	0.29	0.29		-0.09	-0.09	-0.04	DODGX
AMRMX	-0.06	0.73	0.74	0.77	0.77	0.77	-0.09		1.0	0.85	AMRMX
AMFFX	-0.06	0.73	0.74	0.77	0.77	0.77	-0.09	1.0		0.84	AMFFX
AMFCX	-0.05	0.54	0.55	0.74	0.73	0.73	-0.04	0.85	0.84		AMFCX
	VVIAX	AWSHX	WSHCX	WSHFX	FWWMX	FWMMX	DODGX	AMRMX	AMFFX	AMFCX

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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

WSHCX	+ 1.0	AWSHX
FWWMX	+ 1.0	WSHFX
FWMMX	+ 1.0	WSHFX
FWMMX	+ 1.0	FWWMX
AMFFX	+ 1.0	AMRMX
AMFCX	+ 0.85	AMRMX

High negative correlations

AMFFX	- 0.09	DODGX
AMRMX	- 0.09	DODGX
AMFFX	- 0.06	VVIAX
AMRMX	- 0.06	VVIAX
AMFCX	- 0.05	VVIAX
AMFCX	- 0.04	DODGX

Risk-Adjusted Indicators

There is a big difference between Coho Mutual Fund performing well and Coho Relative 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 Coho Relative'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
VVIAX	0.49	0.00	(0.03)	0.07	0.52	(0.55)	0.91	(0.98)	2.54
AWSHX	0.60	(0.05)	0.00	(0.31)	0.00	0.00	0.98	(1.15)	5.96
WSHCX	0.59	(0.05)	0.00	(0.33)	0.00	0.00	0.98	(1.14)	5.86
WSHFX	0.60	(0.09)	0.00	(0.04)	0.00	0.00	0.97	(1.10)	5.96
FWWMX	0.60	(0.09)	0.00	(0.04)	0.00	0.00	0.98	(1.11)	6.03
FWMMX	0.60	(0.09)	0.00	(0.04)	0.00	0.00	0.98	(1.11)	6.02
DODGX	0.60	(0.02)	(0.03)	0.05	0.80	(0.57)	1.12	(1.12)	3.03
AMRMX	0.60	(0.08)	0.00	(0.26)	0.00	0.00	0.83	(1.13)	7.86
AMFFX	0.60	(0.08)	0.00	(0.29)	0.00	0.00	0.82	(1.13)	7.90
AMFCX	0.60	(0.12)	0.00	(0.07)	0.00	0.00	0.83	(1.13)	7.82

Coho Relative Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Coho Relative mutual fund to make a market-neutral strategy. Peer analysis of Coho Relative could also be used in its relative valuation, which is a method of valuing Coho Relative by comparing valuation metrics with similar companies.

Vanguard Value Index Washington Mutual Investors Washington Mutual Investors Washington Mutual Investors American Funds Washington American Funds Washington Dodge Stock Fund American Mutual Fund American Mutual Fund American Mutual Fund American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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