Ffcdax Correlations

FFCDAX Fund

9.77 0.01 0.10%

The current 90-days correlation between Ffcdax and Gabelli Global Financial is 0.06 (i.e., Significant diversification). The correlation of Ffcdax 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.

Ffcdax Correlation With Market

Modest diversification

The correlation between Ffcdax and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ffcdax 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 Ffcdax. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Related Correlations Analysis

	GCFSX	FIDAX	ICFAX	PGFMX	VFAIX	PFSZX	RMBLX
GCFSX		-0.62	0.92	0.76	0.9	0.9	0.96	GCFSX
FIDAX	-0.62		-0.5	-0.78	-0.64	-0.83	-0.6	FIDAX
ICFAX	0.92	-0.5		0.67	0.91	0.85	0.94	ICFAX
PGFMX	0.76	-0.78	0.67		0.73	0.81	0.69	PGFMX
VFAIX	0.9	-0.64	0.91	0.73		0.93	0.92	VFAIX
PFSZX	0.9	-0.83	0.85	0.81	0.93		0.91	PFSZX
RMBLX	0.96	-0.6	0.94	0.69	0.92	0.91		RMBLX
	GCFSX	FIDAX	ICFAX	PGFMX	VFAIX	PFSZX	RMBLX

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

RMBLX	+ 0.96	GCFSX
RMBLX	+ 0.94	ICFAX
PFSZX	+ 0.93	VFAIX
ICFAX	+ 0.92	GCFSX
RMBLX	+ 0.92	VFAIX
VFAIX	+ 0.91	ICFAX

High negative correlations

PFSZX	- 0.83	FIDAX
PGFMX	- 0.78	FIDAX
VFAIX	- 0.64	FIDAX
FIDAX	- 0.62	GCFSX
RMBLX	- 0.6	FIDAX
ICFAX	- 0.5	FIDAX

Risk-Adjusted Indicators

There is a big difference between Ffcdax Fund performing well and Ffcdax 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 Ffcdax'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
GCFSX	0.48	0.17	0.14	0.78	0.30	(0.59)	1.39	(1.03)	3.52
FIDAX	1.33	(0.36)	0.00	30.78	0.00	0.00	1.81	(1.49)	33.76
ICFAX	0.88	0.14	0.19	0.24	0.45	(1.20)	1.66	(1.16)	14.63
PGFMX	0.31	0.06	(0.06)	0.51	0.17	(0.39)	0.66	(0.64)	2.39
VFAIX	0.69	(0.04)	(0.04)	0.06	0.91	(0.70)	1.35	(1.72)	4.27
PFSZX	0.90	0.11	0.11	0.19	0.82	(0.99)	1.92	(1.75)	12.01
RMBLX	1.04	0.22	0.15	0.33	0.99	(1.21)	3.00	(1.36)	7.72

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