World Ex Correlations

DFWVX Fund

USD 18.42 0.02 0.11%

The current 90-days correlation between World Ex Val and Alpsalerian Energy Infrastructure is 0.12 (i.e., Average diversification). The correlation of World Ex 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.

World Ex Correlation With Market

Poor diversification

The correlation between World Ex Val and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding World Ex Val and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in World Ex Val. 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 World Mutual Fund

0.72	DODFX	Dodge International Stock	Pair Corr
0.71	DOXFX	Dodge Cox International	Pair Corr
0.95	OANIX	Oakmark International	Pair Corr
0.76	OAZIX	Oakmark International	Pair Corr
0.97	CIVVX	Causeway International	Pair Corr
0.72	CIVIX	Causeway International	Pair Corr
0.71	TRIGX	T Rowe Price	Pair Corr
0.94	FINVX	Fidelity Series Inte	Pair Corr
0.69	VIHAX	Vanguard International	Pair Corr
0.61	GPBFX	Gmo E Plus	Pair Corr
0.78	GPMFX	Guidepath Managed Futures	Pair Corr
0.71	PQTAX	Pimco Trends Managed	Pair Corr
0.71	PQTNX	Pimco Trends Managed	Pair Corr
0.71	PQTIX	Aa Pimco Tr	Pair Corr
0.8	WARCX	Wells Fargo Advantage	Pair Corr
0.89	SSTHX	Wells Fargo Short	Pair Corr
0.75	LGWAX	Ladenburg Growth	Pair Corr
0.83	RYTLX	Telecommunications Steady Growth	Pair Corr
0.71	ASPCX	Alger Spectra	Pair Corr
0.69	INTC	Intel Aggressive Push	Pair Corr
0.8	BA	Boeing	Pair Corr
0.66	AA	Alcoa Corp	Pair Corr
0.71	CVX	Chevron Corp	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.66	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against World Mutual Fund

0.43	HPQ	HP Inc Aggressive Push	Pair Corr
0.42	MMM	3M Company	Pair Corr
0.4	TRV	The Travelers Companies	Pair Corr
0.36	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	CGAEX	ICBAX	GMOWX	ALTEX	ALEFX
CGAEX		0.77	0.91	0.91	0.6	CGAEX
ICBAX	0.77		0.86	0.82	0.92	ICBAX
GMOWX	0.91	0.86		0.86	0.77	GMOWX
ALTEX	0.91	0.82	0.86		0.65	ALTEX
ALEFX	0.6	0.92	0.77	0.65		ALEFX
	CGAEX	ICBAX	GMOWX	ALTEX	ALEFX

Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World Ex 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 Ex'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
CGAEX	0.73	0.07	0.02	(7.62)	0.91	(0.71)	1.45	(1.66)	3.90
ICBAX	1.10	0.25	0.18	2.34	0.85	(1.31)	2.35	(1.85)	11.68
GMOWX	0.95	0.29	0.21	1.63	0.92	(1.09)	2.11	(1.80)	4.54
ALTEX	1.67	0.25	0.08	(1.23)	2.00	(1.75)	4.15	(4.06)	12.23
ALEFX	0.98	0.38	0.36	0.88	0.34	(1.21)	1.41	(1.26)	19.46

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