Madison Dividend Correlations

MADAX Fund

USD 25.84 0.14 0.54%

The current 90-days correlation between Madison Dividend Income and Us Government Securities is 0.28 (i.e., Modest diversification). The correlation of Madison Dividend 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 Dividend Correlation With Market

Very poor diversification

The correlation between Madison Dividend Income and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Dividend Income 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 Dividend Income. 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 nation.

Moving together with Madison Mutual Fund

0.92	MMCRX	Madison Mid Cap	Pair Corr
0.94	MNVAX	Madison Investors	Pair Corr
0.89	BVAOX	Broadview Opportunity	Pair Corr
0.89	MAGSX	Madison Aggressive	Pair Corr
1.0	BHBFX	Madison Dividend Income	Pair Corr
0.96	MBLAX	Madison Diversified	Pair Corr
0.74	MBOIX	Madison Core Bond	Pair Corr
0.73	MBORX	Madison Funds	Pair Corr
0.71	MBOYX	Madison E Bond	Pair Corr
0.63	MBOAX	Madison E Bond	Pair Corr
0.92	MCNAX	Madison Servative	Pair Corr
0.92	MDCIX	Madison Mid Cap	Pair Corr
0.97	MENRX	Madison Ered Call	Pair Corr
0.92	MENYX	Madison Ered Call	Pair Corr
0.88	MERAX	Madison Mid Cap	Pair Corr
0.69	MIIBX	Madison High Quality	Pair Corr
0.95	MINVX	Madison Investors	Pair Corr
0.92	GTSGX	Madison Mid Cap	Pair Corr
0.98	VVIAX	Vanguard Value Index	Pair Corr
0.85	AWSHX	Washington Mutual	Pair Corr
0.84	WSHCX	Washington Mutual	Pair Corr
0.91	WSHFX	Washington Mutual	Pair Corr
0.86	FWWMX	American Funds Washington	Pair Corr
0.86	FWMMX	American Funds Washington	Pair Corr
0.87	DODGX	Dodge Stock Fund	Pair Corr
0.83	AMFFX	American Mutual	Pair Corr
0.84	AMFCX	American Mutual	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.81	VSMPX	Vanguard Total Stock	Pair Corr
0.81	VITSX	Vanguard Total Stock	Pair Corr
0.72	VFFSX	Vanguard 500 Index	Pair Corr
0.76	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.92	VTSNX	Vanguard Total Inter	Pair Corr
0.9	VTISX	Vanguard Total Inter	Pair Corr
0.92	VTPSX	Vanguard Total Inter	Pair Corr
0.76	VINIX	Vanguard Institutional	Pair Corr
0.92	PPQZX	Pimco Realpath Blend	Pair Corr

Moving against Madison Mutual Fund

0.36

AMRMX

American Mutual

Pair Corr

Related Correlations Analysis

	RYHJX	MXDQX	FICMX	FCSCX	UGSDX	GSGOX	USGFX
RYHJX		0.16	0.45	0.89	0.77	0.17	0.34	RYHJX
MXDQX	0.16		0.88	0.5	0.43	0.73	0.84	MXDQX
FICMX	0.45	0.88		0.72	0.67	0.77	0.86	FICMX
FCSCX	0.89	0.5	0.72		0.79	0.46	0.66	FCSCX
UGSDX	0.77	0.43	0.67	0.79		0.46	0.47	UGSDX
GSGOX	0.17	0.73	0.77	0.46	0.46		0.68	GSGOX
USGFX	0.34	0.84	0.86	0.66	0.47	0.68		USGFX
	RYHJX	MXDQX	FICMX	FCSCX	UGSDX	GSGOX	USGFX

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Dividend 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 Dividend'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
RYHJX	0.40	0.07	0.02	(0.37)	0.30	(0.46)	1.00	(0.60)	2.03
MXDQX	0.15	(0.01)	(0.27)	(0.11)	0.16	(0.19)	0.25	(0.24)	0.74
FICMX	0.15	0.00	(0.22)	0.00	0.15	(0.20)	0.33	(0.33)	0.77
FCSCX	0.05	0.00	0.00	(0.40)	0.00	0.00	0.13	(0.13)	0.53
UGSDX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.52
GSGOX	0.14	(0.01)	(0.25)	(0.17)	0.19	(0.15)	0.23	(0.30)	0.83
USGFX	0.13	(0.01)	(0.30)	(0.14)	0.15	(0.15)	0.25	(0.25)	0.66

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