Classic Value Correlations

Mutual Funds . USA . 
Fund . Classic Value Fund
JCVIX Fund  USD 38.38  0.20  0.52%   
The current 90-days correlation between Classic Value and Dodge Cox Stock is -0.08 (i.e., Good diversification). The correlation of Classic Value 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.

Classic Value Correlation With Market

Very poor diversification

The correlation between Classic Value Fund and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Classic Value 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 Classic Value 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 Classic Mutual Fund

  0.89FRBAX Regional BankPairCorr
  0.95FRBCX Regional BankPairCorr
  0.64JQLBX Multimanager LifestylePairCorr
  0.73JQLAX Multimanager LifestylePairCorr
  0.69JQLGX Multimanager LifestylePairCorr
  0.95JRBFX Regional BankPairCorr
  0.78JRETX J Hancock IiPairCorr
  0.89JRGRX Regional BankPairCorr
  0.72JRLQX Retirement Living ThroughPairCorr
  0.72JRLUX Multi Index 2045PairCorr
  0.7JRLWX Retirement Living ThroughPairCorr
  0.72JRLVX Retirement Living ThroughPairCorr
  0.7JRLZX Retirement Living ThroughPairCorr
  0.78JROUX J Hancock IiPairCorr
  0.74JRODX J Hancock IiPairCorr
  0.74JAAFX Jhancock Multi IndexPairCorr
  0.74JAAJX Jhancock Multi IndexPairCorr
  0.74JAAKX Jhancock Multi IndexPairCorr
  0.61JAARX Alternative AssetPairCorr
  0.78JAAVX Jhancock MultimanagerPairCorr
  0.62JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Classic Mutual Fund performing well and Classic Value 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 Classic Value'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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