Victory Incore Correlations

IPFIX Fund

USD 6.83 0.01 0.15%

The correlation of Victory Incore 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.

Victory Incore Correlation With Market

Poor diversification

The correlation between Victory Incore Fund and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Incore Fund 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 Victory Incore Fund. 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 Victory Mutual Fund

0.73	SRVEX	Victory Diversified Stock	Pair Corr
0.61	SSGSX	Victory Sycamore Small	Pair Corr
0.77	MMECX	Victory Integrity	Pair Corr
0.81	MMEAX	Victory Integrity	Pair Corr
0.7	MNNAX	Victory Munder Multi	Pair Corr
0.91	RSDYX	Victory Incore Low	Pair Corr
0.64	RSDGX	Victory Rs Select	Pair Corr
0.83	RSGGX	Victory Rs Global	Pair Corr
0.81	RSINX	Victory Rs Investors	Pair Corr
0.88	RSIGX	Victory Rs International	Pair Corr
0.81	RSIYX	Victory Rs Investors	Pair Corr
0.87	RSPFX	Victory Rs Partners	Pair Corr
0.73	RSNRX	Victory Global Natural	Pair Corr
0.73	RSNYX	Victory Global Natural	Pair Corr
0.88	RSPYX	Victory Rs Partners	Pair Corr
0.65	RSSYX	Victory Rs Select	Pair Corr
0.82	RSVAX	Victory Rs Value	Pair Corr
0.83	RSVYX	Victory Rs Value	Pair Corr
0.66	RSYYX	Victory High Yield	Pair Corr
0.85	VSCVX	Victory Integrity Small	Pair Corr
0.85	VSVIX	Victory Integrity Small	Pair Corr
0.79	RCEYX	Victory Rs Large	Pair Corr
0.76	RCOCX	Victory Rs Large	Pair Corr
0.8	RVACX	Victory Rs Value	Pair Corr
0.86	MAIMX	Victory Integrity Mid	Pair Corr
0.69	VDSCX	Victory Diversified Stock	Pair Corr
0.82	URFRX	Target Retirement 2040	Pair Corr
0.86	URFFX	Target Retirement 2050	Pair Corr
0.84	URINX	Target Retirement Income	Pair Corr
0.88	URTRX	Target Retirement 2030	Pair Corr

Moving against Victory Mutual Fund

0.55	RSIFX	Victory Rs Science	Pair Corr
0.68	USAUX	Aggressive Growth	Pair Corr
0.46	USAAX	Growth Fund Growth	Pair Corr

Related Correlations Analysis

	PFSQX	ICFAX	GCFSX	VFAIX	XFINX	FTIXX
PFSQX		0.68	0.68	0.63	-0.06	0.0	PFSQX
ICFAX	0.68		0.73	0.49	0.1	0.0	ICFAX
GCFSX	0.68	0.73		0.06	-0.3	0.0	GCFSX
VFAIX	0.63	0.49	0.06		0.53	0.0	VFAIX
XFINX	-0.06	0.1	-0.3	0.53		0.0	XFINX
FTIXX	0.0	0.0	0.0	0.0	0.0		FTIXX
	PFSQX	ICFAX	GCFSX	VFAIX	XFINX	FTIXX

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

GCFSX	+ 0.73	ICFAX
ICFAX	+ 0.68	PFSQX
GCFSX	+ 0.68	PFSQX
VFAIX	+ 0.63	PFSQX
XFINX	+ 0.53	VFAIX
VFAIX	+ 0.49	ICFAX

High negative correlations

XFINX	- 0.3	GCFSX
XFINX	- 0.06	PFSQX
FTIXX	- 0.0	XFINX
FTIXX	- 0.0	VFAIX
FTIXX	- 0.0	GCFSX
FTIXX	- 0.0	ICFAX

Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory Incore 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 Victory Incore'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
PFSQX	1.02	0.02	0.04	0.10	1.14	(1.12)	1.95	(1.88)	14.31
ICFAX	0.88	0.16	0.18	0.23	0.55	(1.15)	1.63	(1.08)	16.37
GCFSX	0.53	0.11	0.11	0.23	0.49	(0.59)	1.15	(1.12)	3.77
VFAIX	0.81	(0.09)	(0.07)	0.00	1.19	(0.77)	1.69	(2.00)	5.68
XFINX	0.14	(0.02)	0.00	(0.12)	0.00	0.00	0.22	(0.43)	1.29
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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