Ivy Natural Correlations

IGNRX Fund

USD 15.36 0.93 5.71%

The current 90-days correlation between Ivy Natural Resources and Ivy Large Cap is 0.22 (i.e., Modest diversification). The correlation of Ivy Natural 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 Natural Correlation With Market

Weak diversification

The correlation between Ivy Natural Resources and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ivy Natural Resources 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 Natural Resources. 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 metropolitan statistical area.

Moving together with Ivy Mutual Fund

0.67	WASCX	Ivy Asset Strategy	Pair Corr
0.67	WASYX	Ivy Asset Strategy	Pair Corr
1.0	INRSX	Ivy Natural Resources	Pair Corr
0.62	WTRCX	Ivy E Equity	Pair Corr
0.66	IASTX	Ivy Asset Strategy	Pair Corr
0.67	IASRX	Ivy Asset Strategy	Pair Corr

Related Correlations Analysis

	ILGRX	WRGCX	WRHIX	IMACX	IMAIX	IMAYX	WSCYX	IMEGX	WSGRX	WASCX
ILGRX		0.79	0.45	-0.7	-0.67	-0.68	0.85	-0.43	0.84	0.43	ILGRX
WRGCX	0.79		0.47	-0.41	-0.37	-0.38	0.97	-0.37	0.99	0.62	WRGCX
WRHIX	0.45	0.47		0.01	0.05	0.03	0.52	0.32	0.51	0.44	WRHIX
IMACX	-0.7	-0.41	0.01		1.0	1.0	-0.46	0.71	-0.44	0.11	IMACX
IMAIX	-0.67	-0.37	0.05	1.0		1.0	-0.43	0.72	-0.41	0.15	IMAIX
IMAYX	-0.68	-0.38	0.03	1.0	1.0		-0.44	0.72	-0.42	0.13	IMAYX
WSCYX	0.85	0.97	0.52	-0.46	-0.43	-0.44		-0.42	1.0	0.5	WSCYX
IMEGX	-0.43	-0.37	0.32	0.71	0.72	0.72	-0.42		-0.41	0.32	IMEGX
WSGRX	0.84	0.99	0.51	-0.44	-0.41	-0.42	1.0	-0.41		0.55	WSGRX
WASCX	0.43	0.62	0.44	0.11	0.15	0.13	0.5	0.32	0.55		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

IMAIX	+ 1.0	IMACX
IMAYX	+ 1.0	IMACX
IMAYX	+ 1.0	IMAIX
WSGRX	+ 1.0	WSCYX
WSGRX	+ 0.99	WRGCX
WSCYX	+ 0.97	WRGCX

High negative correlations

IMACX	- 0.7	ILGRX
IMAYX	- 0.68	ILGRX
IMAIX	- 0.67	ILGRX
WSCYX	- 0.46	IMACX
WSCYX	- 0.44	IMAYX
WSGRX	- 0.44	IMACX

Risk-Adjusted Indicators

There is a big difference between Ivy Mutual Fund performing well and Ivy Natural 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 Natural'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	0.55	0.02	(0.01)	0.12	0.72	(0.58)	1.36	(1.30)	4.02
WRGCX	1.07	(0.18)	0.00	(0.03)	0.00	0.00	2.12	(1.71)	7.40
WRHIX	0.17	0.01	(0.24)	0.22	0.05	(0.29)	0.49	(0.33)	1.48
IMACX	0.33	(0.05)	0.00	(0.18)	0.00	0.00	0.62	(0.62)	2.25
IMAIX	0.34	(0.05)	0.00	(0.16)	0.00	0.00	0.63	(0.62)	2.35
IMAYX	0.34	(0.06)	0.00	(0.17)	0.00	0.00	0.62	(0.70)	2.25
WSCYX	0.97	(0.07)	(0.02)	0.04	1.17	(1.07)	2.19	(1.67)	7.31
IMEGX	0.70	(0.03)	(0.10)	(0.04)	0.98	(0.70)	1.66	(1.80)	4.44
WSGRX	1.01	(0.10)	(0.04)	0.02	1.44	(1.11)	2.21	(1.66)	7.33
WASCX	0.50	(0.10)	0.00	(0.11)	0.00	0.00	0.78	(1.00)	3.08

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