Future Scholar Correlations

CMTMX Fund

USD 17.13 0.06 0.35%

The current 90-days correlation between Future Scholar 529 and Virtus Convertible is 0.73 (i.e., Poor diversification). The correlation of Future Scholar 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.

Future Scholar Correlation With Market

Significant diversification

The correlation between Future Scholar 529 and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Future Scholar 529 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 Future Scholar 529. 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 Future Mutual Fund

0.79	VTSAX	Vanguard Total Stock	Pair Corr
0.77	VFIAX	Vanguard 500 Index	Pair Corr
0.79	VTSMX	Vanguard Total Stock	Pair Corr
0.79	VITSX	Vanguard Total Stock	Pair Corr
0.79	VSTSX	Vanguard Total Stock	Pair Corr
0.79	VSMPX	Vanguard Total Stock	Pair Corr
0.77	VFINX	Vanguard 500 Index	Pair Corr
0.77	VFFSX	Vanguard 500 Index	Pair Corr
0.67	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.63	MSFT	Microsoft Downward Rally	Pair Corr
0.64	BAC	Bank of America Sell-off Trend	Pair Corr
0.67	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against Future Mutual Fund

0.48

PFE

Pfizer Inc Earnings Call This Week

Pair Corr

Related Correlations Analysis

	VAADX	FSAWX	XNCZX	XNCVX	PBXIX	LCFYX	CCD
VAADX		0.67	0.99	0.94	0.72	0.94	0.0	VAADX
FSAWX	0.67		0.62	0.41	0.03	0.7	0.41	FSAWX
XNCZX	0.99	0.62		0.97	0.76	0.93	-0.04	XNCZX
XNCVX	0.94	0.41	0.97		0.88	0.86	-0.19	XNCVX
PBXIX	0.72	0.03	0.76	0.88		0.67	-0.37	PBXIX
LCFYX	0.94	0.7	0.93	0.86	0.67		0.07	LCFYX
CCD	0.0	0.41	-0.04	-0.19	-0.37	0.07		CCD
	VAADX	FSAWX	XNCZX	XNCVX	PBXIX	LCFYX	CCD

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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

XNCZX	+ 0.99	VAADX
XNCVX	+ 0.97	XNCZX
XNCVX	+ 0.94	VAADX
LCFYX	+ 0.94	VAADX
LCFYX	+ 0.93	XNCZX
PBXIX	+ 0.88	XNCVX

High negative correlations

CCD	- 0.37	PBXIX
CCD	- 0.19	XNCVX
CCD	- 0.04	XNCZX
CCD	- 0.0	VAADX

Risk-Adjusted Indicators

There is a big difference between Future Mutual Fund performing well and Future Scholar 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 Future Scholar'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
VAADX	0.60	0.09	0.01	1.84	0.67	(0.69)	1.19	(0.97)	4.02
FSAWX	0.08	0.03	(0.56)	3.49	0.00	(0.13)	0.19	(0.10)	0.38
XNCZX	0.66	0.10	0.01	4.34	0.76	(0.81)	1.20	(1.17)	4.04
XNCVX	0.63	0.06	(0.03)	5.91	0.78	(0.72)	1.29	(1.26)	4.08
PBXIX	0.40	0.01	(0.13)	0.54	0.55	(0.40)	0.81	(0.80)	3.28
LCFYX	0.55	0.08	0.02	0.42	0.57	(0.65)	1.12	(1.03)	3.79
CCD	0.69	(0.01)	(0.08)	0.03	0.92	(0.72)	1.54	(1.54)	4.87

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