Ivy Energy Correlations

IYEFX Fund

USD 9.60 0.08 0.84%

The current 90-days correlation between Ivy Energy Fund and Ivy Large Cap is 0.2 (i.e., Modest diversification). The correlation of Ivy Energy 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 Energy Correlation With Market

Modest diversification

The correlation between Ivy Energy Fund and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ivy Energy 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 Ivy Energy 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 census.

Moving together with Ivy Mutual Fund

0.9	IMACX	Ivy Apollo Multi	Pair Corr
0.91	IMAYX	Ivy Apollo Multi	Pair Corr
0.72	IMEGX	Ivy Emerging Markets	Pair Corr
0.91	IMURX	Ivy Apollo Multi	Pair Corr
0.72	IPOIX	Ivy Emerging Markets	Pair Corr
0.83	ICEIX	Ivy International	Pair Corr
0.61	IVBDX	Ivy Global Bond	Pair Corr
1.0	IVEIX	Ivy Energy Fund	Pair Corr
0.64	IVSYX	Ivy Global Bond	Pair Corr

Related Correlations Analysis

	ILGRX	WRGCX	WRHIX	IMACX	IMAIX	IMAYX	IMEGX	WSGRX	WASCX	IMURX
ILGRX		0.81	0.52	-0.41	-0.35	-0.38	0.0	0.81	0.72	-0.36	ILGRX
WRGCX	0.81		0.41	-0.31	-0.26	-0.28	-0.14	1.0	0.54	-0.28	WRGCX
WRHIX	0.52	0.41		0.25	0.3	0.28	0.6	0.41	0.67	0.29	WRHIX
IMACX	-0.41	-0.31	0.25		1.0	1.0	0.7	-0.31	0.28	1.0	IMACX
IMAIX	-0.35	-0.26	0.3	1.0		1.0	0.72	-0.27	0.33	1.0	IMAIX
IMAYX	-0.38	-0.28	0.28	1.0	1.0		0.71	-0.29	0.3	1.0	IMAYX
IMEGX	0.0	-0.14	0.6	0.7	0.72	0.71		-0.14	0.62	0.72	IMEGX
WSGRX	0.81	1.0	0.41	-0.31	-0.27	-0.29	-0.14		0.54	-0.28	WSGRX
WASCX	0.72	0.54	0.67	0.28	0.33	0.3	0.62	0.54		0.32	WASCX
IMURX	-0.36	-0.28	0.29	1.0	1.0	1.0	0.72	-0.28	0.32		IMURX
	ILGRX	WRGCX	WRHIX	IMACX	IMAIX	IMAYX	IMEGX	WSGRX	WASCX	IMURX

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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

WSGRX	+ 1.0	WRGCX
IMAIX	+ 1.0	IMACX
IMAYX	+ 1.0	IMACX
IMURX	+ 1.0	IMACX
IMAYX	+ 1.0	IMAIX
IMURX	+ 1.0	IMAIX

High negative correlations

IMACX	- 0.41	ILGRX
IMAYX	- 0.38	ILGRX
IMURX	- 0.36	ILGRX
IMAIX	- 0.35	ILGRX
WSGRX	- 0.31	IMACX
IMACX	- 0.31	WRGCX

Risk-Adjusted Indicators

There is a big difference between Ivy Mutual Fund performing well and Ivy Energy 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 Energy'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	0.59	0.00	(0.03)	0.13	0.81	(0.60)	1.40	(1.54)	4.02
WRGCX	0.96	(0.08)	(0.01)	0.07	1.10	(1.09)	2.12	(1.78)	7.40
WRHIX	0.19	0.01	(0.37)	0.24	0.06	(0.29)	0.49	(0.33)	1.47
IMACX	0.33	(0.04)	(0.29)	(0.04)	0.41	(0.38)	0.62	(0.62)	2.25
IMAIX	0.35	(0.03)	(0.28)	(0.01)	0.42	(0.37)	0.63	(0.62)	2.35
IMAYX	0.34	(0.03)	(0.27)	(0.02)	0.44	(0.35)	0.62	(0.70)	2.25
IMEGX	0.69	(0.09)	0.00	(0.11)	0.00	0.00	1.49	(1.80)	4.44
WSGRX	0.96	(0.07)	(0.01)	0.08	1.06	(1.08)	2.21	(1.73)	7.33
WASCX	0.42	(0.04)	(0.16)	0.05	0.60	(0.41)	0.79	(1.07)	3.08
IMURX	0.35	(0.03)	(0.28)	(0.02)	0.42	(0.36)	0.61	(0.62)	2.15

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