Iman Fund Correlations

Mutual Funds . USA . 
Fund . Iman Fund Class
IMANX Fund  USD 16.45  0.09  0.54%   
The current 90-days correlation between Iman Fund Class and Azzad Ethical Fund is 0.69 (i.e., Poor diversification). The correlation of Iman Fund 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.

Iman Fund Correlation With Market

Average diversification

The correlation between Iman Fund Class and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iman Fund Class 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 Iman Fund Class. 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 board of governors.

Moving together with Iman Mutual Fund

  0.76FAFGX American FundsPairCorr
  0.76FFAFX American FundsPairCorr
  0.71GFACX Growth FundPairCorr
  0.68GFAFX Growth FundPairCorr
  0.78AGTHX Growth FundPairCorr
  0.76CGFFX Growth FundPairCorr
  0.71CGFCX Growth FundPairCorr
  0.76CGFAX Growth FundPairCorr
  0.75CGFEX Growth FundPairCorr
  0.76RGAEX Growth FundPairCorr
  0.72DXQLX Direxion Monthly NasdaqPairCorr
  0.91RYVLX Nasdaq 100 2xPairCorr
  0.91RYVYX Nasdaq 100 2xPairCorr
  0.74UOPIX Ultra Nasdaq 100PairCorr
  0.89RYCCX Nasdaq 100 2xPairCorr
  0.75UOPSX Ultranasdaq 100 ProfundPairCorr
  0.75IAXAX Vy T RowePairCorr
  0.61MHIKX Mfs High IncomePairCorr
  0.65BSIHX Blackrock SustainablePairCorr
  0.83AVUSX Avantis EquityPairCorr
  0.81TAGRX Fundamental Large CapPairCorr
  0.71JDHYX Janus High YieldPairCorr
  0.84ASCGX Lebenthal Lisanti SmallPairCorr
  0.85PACOX T Rowe PricePairCorr
  0.69PLAHX Pacific Funds HighPairCorr
  0.77FCSGX Franklin Small CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Iman Mutual Fund performing well and Iman Fund 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 Iman Fund'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.

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