Madison Aggressive Correlations

MAACX Fund

USD 11.20 0.10 0.90%

The current 90-days correlation between Madison Aggressive and Madison Covered Call is 0.59 (i.e., Very weak diversification). The correlation of Madison Aggressive 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.

Madison Aggressive Correlation With Market

Weak diversification

The correlation between Madison Aggressive Allocation and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Aggressive Allocation and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Madison Aggressive Allocation. 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 main economic indicators.

Moving together with Madison Mutual Fund

0.81	FFIFX	American Funds	Pair Corr
0.86	FAIFX	American Funds	Pair Corr
0.86	IFACX	Income Fund	Pair Corr
0.78	IFAFX	Income Fund	Pair Corr
0.78	AMECX	Income Fund	Pair Corr
0.86	RIDBX	Income Fund	Pair Corr
0.86	CIMEX	Income Fund	Pair Corr
0.79	RIDFX	Income Fund	Pair Corr
0.86	CIMCX	Income Fund	Pair Corr
0.86	CIMFX	Income Fund	Pair Corr
0.83	WHIYX	Ivy High Income	Pair Corr
0.83	IVHIX	Ivy High Income	Pair Corr
0.83	IHIFX	Ivy High Income	Pair Corr
0.86	WRHIX	Ivy High Income	Pair Corr
0.82	WHIAX	Ivy High Income	Pair Corr
0.68	CSJZX	Cohen Steers Realty	Pair Corr
0.69	CSRSX	Cohen Steers Realty	Pair Corr
0.81	GSWPX	Goldman Sachs Smallmid	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.76	AA	Alcoa Corp	Pair Corr
0.65	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.7	HD	Home Depot	Pair Corr

Moving against Madison Mutual Fund

0.33	LFRIX	Floating Rate	Pair Corr
0.41	SSAGX	Virtus Seix Government	Pair Corr
0.36	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	XMCNX	MBLCX	MBLNX	MBOIX	MBORX	MBOYX	MBOAX	MBOBX	MBSVX
XMCNX		0.81	0.0	0.71	0.71	0.71	0.56	0.0	0.0	XMCNX
MBLCX	0.81		0.0	0.85	0.85	0.86	0.81	0.0	0.0	MBLCX
MBLNX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MBLNX
MBOIX	0.71	0.85	0.0		1.0	0.99	0.87	0.0	0.0	MBOIX
MBORX	0.71	0.85	0.0	1.0		0.99	0.86	0.0	0.0	MBORX
MBOYX	0.71	0.86	0.0	0.99	0.99		0.87	0.0	0.0	MBOYX
MBOAX	0.56	0.81	0.0	0.87	0.86	0.87		0.0	0.0	MBOAX
MBOBX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	MBOBX
MBSVX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		MBSVX
	XMCNX	MBLCX	MBLNX	MBOIX	MBORX	MBOYX	MBOAX	MBOBX	MBSVX

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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

MBORX	+ 1.0	MBOIX
MBOYX	+ 0.99	MBOIX
MBOYX	+ 0.99	MBORX
MBOAX	+ 0.87	MBOIX
MBOAX	+ 0.87	MBOYX
MBOYX	+ 0.86	MBLCX

High negative correlations

MBSVX	- 0.0	MBOBX
MBSVX	- 0.0	MBOAX
MBOBX	- 0.0	MBOAX
MBSVX	- 0.0	MBOYX
MBOBX	- 0.0	MBOYX
MBSVX	- 0.0	MBORX

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Aggressive 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 Madison Aggressive'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
XMCNX	0.41	(0.09)	0.00	(0.23)	0.00	0.00	0.58	(1.21)	3.36
MBLCX	0.24	(0.01)	(0.08)	(0.03)	0.32	(0.28)	0.46	(0.31)	1.77
MBLNX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MBOIX	0.23	(0.02)	0.00	(0.30)	0.00	0.00	0.45	(0.45)	1.35
MBORX	0.23	(0.02)	0.00	(0.29)	0.00	0.00	0.57	(0.46)	1.47
MBOYX	0.22	(0.02)	0.00	(0.32)	0.00	0.00	0.45	(0.45)	1.23
MBOAX	0.23	(0.04)	0.00	(0.84)	0.00	0.00	0.44	(0.56)	1.46
MBOBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MBSVX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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