Ivy Apollo Correlations

IMURX Fund

USD 9.68 0.04 0.41%

The current 90-days correlation between Ivy Apollo Multi and Victory High Income is 0.11 (i.e., Average diversification). The correlation of Ivy Apollo 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 Apollo Correlation With Market

Very weak diversification

The correlation between Ivy Apollo Multi Asset and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ivy Apollo Multi Asset 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 Apollo Multi Asset. 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

1.0	IMACX	Ivy Apollo Multi	Pair Corr
1.0	IMAIX	Ivy Apollo Multi	Pair Corr
1.0	IMAYX	Ivy Apollo Multi	Pair Corr
0.72	IMEGX	Ivy Emerging Markets	Pair Corr
0.72	IPOYX	Ivy Emerging Markets	Pair Corr
0.73	IPOCX	Ivy Emerging Markets	Pair Corr
0.72	IPOIX	Ivy Emerging Markets	Pair Corr
0.83	ICEIX	Ivy International	Pair Corr

Moving against Ivy Mutual Fund

0.36	ILGRX	Ivy Large Cap	Pair Corr
0.34	ISPVX	Ivy Small Cap	Pair Corr

Related Correlations Analysis

	RHMYX	PHDTX	AGTFX	BCHIX	CDCRX	VWALX	AAAIX
RHMYX		0.21	0.03	0.95	-0.05	0.85	0.11	RHMYX
PHDTX	0.21		0.88	0.16	0.85	0.12	0.88	PHDTX
AGTFX	0.03	0.88		-0.06	0.96	-0.03	0.92	AGTFX
BCHIX	0.95	0.16	-0.06		-0.15	0.89	0.0	BCHIX
CDCRX	-0.05	0.85	0.96	-0.15		-0.13	0.9	CDCRX
VWALX	0.85	0.12	-0.03	0.89	-0.13		-0.01	VWALX
AAAIX	0.11	0.88	0.92	0.0	0.9	-0.01		AAAIX
	RHMYX	PHDTX	AGTFX	BCHIX	CDCRX	VWALX	AAAIX

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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

CDCRX	+ 0.96	AGTFX
BCHIX	+ 0.95	RHMYX
AAAIX	+ 0.92	AGTFX
AAAIX	+ 0.9	CDCRX
VWALX	+ 0.89	BCHIX
AGTFX	+ 0.88	PHDTX

High negative correlations

CDCRX	- 0.15	BCHIX
VWALX	- 0.13	CDCRX
BCHIX	- 0.06	AGTFX
CDCRX	- 0.05	RHMYX
VWALX	- 0.03	AGTFX
AAAIX	- 0.01	VWALX

Risk-Adjusted Indicators

There is a big difference between Ivy Mutual Fund performing well and Ivy Apollo 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 Apollo'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
RHMYX	0.24	0.04	(0.20)	(0.14)	0.34	(0.28)	0.53	(0.61)	1.98
PHDTX	0.09	0.01	(0.64)	0.35	0.00	(0.15)	0.23	(0.11)	0.56
AGTFX	0.51	(0.04)	(0.10)	0.07	0.61	(0.59)	1.15	(0.88)	3.06
BCHIX	0.16	0.02	(0.26)	(0.09)	0.22	(0.22)	0.41	(0.40)	1.53
CDCRX	0.57	(0.03)	(0.06)	0.08	0.69	(0.58)	1.07	(1.12)	3.61
VWALX	0.16	0.00	(0.27)	0.08	0.25	(0.22)	0.37	(0.37)	1.68
AAAIX	0.42	0.05	(0.11)	1.53	0.44	(0.50)	0.95	(0.70)	2.41

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