Ivy Core Correlations

ICEQX Fund

USD 24.36 0.07 0.29%

The current 90-days correlation between Ivy E Equity and Ivy Large Cap is 0.91 (i.e., Almost no diversification). The correlation of Ivy Core 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.

Ivy Core Correlation With Market

Very poor diversification

The correlation between Ivy E Equity and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ivy E Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Ivy E Equity. 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 producer price index.

Moving together with Ivy Mutual Fund

0.98	ILGRX	Ivy Large Cap	Pair Corr
0.72	WRGCX	Ivy Small Cap	Pair Corr
0.63	WRHIX	Ivy High Income	Pair Corr
0.73	WSCYX	Ivy Small Cap	Pair Corr
0.72	WSGRX	Ivy Small Cap	Pair Corr
0.8	WASCX	Ivy Asset Strategy	Pair Corr
0.82	WASYX	Ivy Asset Strategy	Pair Corr
0.93	WSTRX	Ivy Science And	Pair Corr
0.93	WSTYX	Ivy Science And	Pair Corr
0.93	WSTCX	Ivy Science And	Pair Corr
0.65	INPEX	American Funds Income	Pair Corr
0.73	INRSX	Ivy Natural Resources	Pair Corr
1.0	WTRCX	Ivy E Equity	Pair Corr
1.0	WCEYX	Ivy E Equity	Pair Corr
0.73	IRGFX	Ivy Small Cap	Pair Corr
0.83	IASTX	Ivy Asset Strategy	Pair Corr
0.81	IASRX	Ivy Asset Strategy	Pair Corr
0.96	ISPVX	Ivy Small Cap	Pair Corr
0.99	IBARX	Ivy Balanced	Pair Corr
0.93	ISTIX	Ivy Science And	Pair Corr
0.93	ISTNX	Ivy Science And	Pair Corr
0.63	WHIYX	Ivy High Income	Pair Corr
0.98	IBNYX	Ivy Balanced	Pair Corr
0.98	IBNCX	Ivy Balanced	Pair Corr
0.86	ITGRX	Ivy Global Growth	Pair Corr
1.0	ICIEX	Ivy E Equity	Pair Corr

Related Correlations Analysis

	ILGRX	WRGCX	WRHIX	IMACX	IMAIX	IMAYX	WSCYX	IMEGX	WSGRX	WASCX
ILGRX		0.75	0.53	-0.36	-0.3	-0.33	0.76	0.09	0.76	0.72	ILGRX
WRGCX	0.75		0.31	-0.28	-0.25	-0.26	1.0	-0.03	1.0	0.54	WRGCX
WRHIX	0.53	0.31		0.29	0.35	0.32	0.32	0.61	0.31	0.65	WRHIX
IMACX	-0.36	-0.28	0.29		1.0	1.0	-0.28	0.69	-0.28	0.32	IMACX
IMAIX	-0.3	-0.25	0.35	1.0		1.0	-0.25	0.72	-0.25	0.37	IMAIX
IMAYX	-0.33	-0.26	0.32	1.0	1.0		-0.27	0.7	-0.27	0.34	IMAYX
WSCYX	0.76	1.0	0.32	-0.28	-0.25	-0.27		-0.03	1.0	0.54	WSCYX
IMEGX	0.09	-0.03	0.61	0.69	0.72	0.7	-0.03		-0.03	0.67	IMEGX
WSGRX	0.76	1.0	0.31	-0.28	-0.25	-0.27	1.0	-0.03		0.54	WSGRX
WASCX	0.72	0.54	0.65	0.32	0.37	0.34	0.54	0.67	0.54		WASCX
	ILGRX	WRGCX	WRHIX	IMACX	IMAIX	IMAYX	WSCYX	IMEGX	WSGRX	WASCX

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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

WSCYX	+ 1.0	WRGCX
WSGRX	+ 1.0	WRGCX
IMAIX	+ 1.0	IMACX
IMAYX	+ 1.0	IMACX
IMAYX	+ 1.0	IMAIX
WSGRX	+ 1.0	WSCYX

High negative correlations

IMACX	- 0.36	ILGRX
IMAYX	- 0.33	ILGRX
IMAIX	- 0.3	ILGRX
WSGRX	- 0.28	IMACX
WSCYX	- 0.28	IMACX
IMACX	- 0.28	WRGCX

Risk-Adjusted Indicators

There is a big difference between Ivy Mutual Fund performing well and Ivy Core 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 Ivy Core'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
ILGRX	0.60	(0.01)	(0.04)	0.11	0.83	(0.60)	1.40	(1.54)	4.02
WRGCX	0.99	(0.07)	(0.01)	0.07	1.09	(1.14)	2.12	(1.78)	7.40
WRHIX	0.19	0.02	(0.32)	0.27	0.00	(0.28)	0.49	(0.33)	1.47
IMACX	0.33	(0.04)	(0.27)	(0.03)	0.40	(0.40)	0.63	(0.62)	2.38
IMAIX	0.35	(0.03)	(0.26)	(0.01)	0.42	(0.38)	0.73	(0.62)	2.39
IMAYX	0.35	(0.04)	(0.25)	(0.02)	0.44	(0.35)	0.62	(0.70)	2.38
WSCYX	0.98	(0.07)	(0.01)	0.07	1.06	(1.14)	2.19	(1.69)	7.31
IMEGX	0.68	(0.08)	0.00	(0.08)	0.00	0.00	1.49	(1.80)	4.44
WSGRX	0.99	(0.07)	(0.01)	0.07	1.05	(1.14)	2.21	(1.73)	7.33
WASCX	0.43	(0.05)	(0.16)	0.04	0.59	(0.44)	0.81	(1.07)	3.08

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