Free Market Correlations

FMFIX Fund

USD 10.05 0.02 0.20%

The current 90-days correlation between Free Market Fixed and Tiaa Cref High Yield Fund is 0.13 (i.e., Average diversification). The correlation of Free Market 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.

Free Market Correlation With Market

Very poor diversification

The correlation between Free Market Fixed and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Free Market Fixed 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 Free Market Fixed. 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 gross domestic product.

Moving together with Free Mutual Fund

0.91	FMNEX	Free Market International	Pair Corr
0.91	FMUEX	Free Market Equity	Pair Corr
0.9	VBISX	Vanguard Short Term	Pair Corr
0.62	VSCSX	Vanguard Short Term	Pair Corr
0.95	BNDAX	Total Return Bond	Pair Corr
0.66	RPOIX	T Rowe Price	Pair Corr
0.84	CLTCX	Catalyst/lyons Tactical	Pair Corr
0.9	GMIAX	Nationwide Investor	Pair Corr
0.76	ABIMX	Ab Impact Municipal	Pair Corr
0.77	APDTX	Artisan Thematic	Pair Corr
0.79	GAPUX	Goldman Sachs Equity	Pair Corr
0.81	SIHPX	Guggenheim High Yield	Pair Corr
0.88	RGBCX	American Funds Global	Pair Corr
0.88	BLPEX	American Funds Balanced	Pair Corr
0.61	HNTVX	Heartland Value	Pair Corr
0.9	CVISX	Causeway International	Pair Corr
0.91	NWWKX	Nationwide Investor	Pair Corr
0.92	FSUVX	Fidelity Sai Minimum	Pair Corr

Moving against Free Mutual Fund

0.41	USPSX	Profunds Ultrashort	Pair Corr
0.56	UIPIX	Ultrashort Mid Cap	Pair Corr
0.36	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	CYBAX	PHDTX	PAHIX	GMOZX	AHYMX	BHYRX	TIHPX
CYBAX		0.96	0.97	0.96	0.92	0.98	0.98	CYBAX
PHDTX	0.96		0.94	0.96	0.89	0.96	0.95	PHDTX
PAHIX	0.97	0.94		0.92	0.87	0.99	0.96	PAHIX
GMOZX	0.96	0.96	0.92		0.93	0.95	0.98	GMOZX
AHYMX	0.92	0.89	0.87	0.93		0.89	0.93	AHYMX
BHYRX	0.98	0.96	0.99	0.95	0.89		0.98	BHYRX
TIHPX	0.98	0.95	0.96	0.98	0.93	0.98		TIHPX
	CYBAX	PHDTX	PAHIX	GMOZX	AHYMX	BHYRX	TIHPX

Risk-Adjusted Indicators

There is a big difference between Free Mutual Fund performing well and Free Market 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 Free Market'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CYBAX	0.09	0.01	(0.70)	0.89	(0.12)	0.24	(0.16)	0.76
PHDTX	0.07	0.02	(0.43)	3.20	(0.13)	0.22	(0.11)	0.44
PAHIX	0.12	0.01	(0.41)	0.72	(0.23)	0.17	(0.17)	1.01
GMOZX	0.08	0.02	(0.40)	0.24	(0.12)	0.23	(0.12)	0.71
AHYMX	0.08	0.01	(0.48)	(0.29)	(0.14)	0.22	(0.11)	0.67
BHYRX	0.12	0.02	(0.40)	(1.97)	(0.21)	0.28	(0.14)	0.84
TIHPX	0.10	0.02	(0.38)	0.26	(0.19)	0.23	(0.11)	0.79

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