Madison Dividend Correlations

MADAX Fund

USD 24.52 0.18 0.74%

The current 90-days correlation between Madison Dividend Income and Prudential Emerging Markets is -0.05 (i.e., Good 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

Weak diversification

The correlation between Madison Dividend Income and DJI is 0.39 (i.e., Weak 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

0.73	BVAOX	Broadview Opportunity	Pair Corr
1.0	MADRX	Madison Funds	Pair Corr
1.0	BHBFX	Madison Dividend Income	Pair Corr
0.73	MSCIX	Madison Small Cap	Pair Corr
0.85	MDMIX	Madison Dividend Income	Pair Corr
0.64	MENAX	Madison Ered Call	Pair Corr
0.78	MENIX	Madison Funds	Pair Corr
0.78	MENRX	Madison Ered Call	Pair Corr

Moving against Madison Mutual Fund

0.43	MENYX	Madison Ered Call Steady Growth	Pair Corr
0.42	AWSHX	Washington Mutual	Pair Corr
0.42	WSHCX	Washington Mutual	Pair Corr
0.41	AMFFX	American Mutual	Pair Corr
0.38	RLNCX	International Developed	Pair Corr
0.35	NHS	Neuberger Berman High Normal Trading	Pair Corr
0.34	AMFCX	American Mutual	Pair Corr

Related Correlations Analysis

	EMDQX	RYCCX	REMVX	MKDCX	EGLNX	DEDCX	FHKFX	RYCVX
EMDQX		0.62	0.79	0.66	0.71	0.89	0.33	0.77	EMDQX
RYCCX	0.62		0.74	0.66	0.31	0.73	0.63	0.77	RYCCX
REMVX	0.79	0.74		0.81	0.41	0.82	0.73	0.77	REMVX
MKDCX	0.66	0.66	0.81		0.32	0.69	0.72	0.84	MKDCX
EGLNX	0.71	0.31	0.41	0.32		0.7	0.08	0.51	EGLNX
DEDCX	0.89	0.73	0.82	0.69	0.7		0.36	0.81	DEDCX
FHKFX	0.33	0.63	0.73	0.72	0.08	0.36		0.54	FHKFX
RYCVX	0.77	0.77	0.77	0.84	0.51	0.81	0.54		RYCVX
	EMDQX	RYCCX	REMVX	MKDCX	EGLNX	DEDCX	FHKFX	RYCVX

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
EMDQX	0.20	0.03	(0.07)	(22.17)	0.00	(0.28)	0.41	(0.41)	1.03
RYCCX	1.82	0.12	0.07	0.12	2.38	(1.95)	4.31	(4.11)	16.28
REMVX	0.66	0.12	0.11	0.22	0.71	(0.79)	1.47	(0.86)	4.38
MKDCX	0.77	0.08	0.03	0.54	1.02	(0.79)	1.49	(1.36)	4.88
EGLNX	0.66	0.00	(0.03)	0.06	0.82	(0.76)	1.26	(1.61)	3.79
DEDCX	0.07	0.01	(0.28)	1.04	0.00	(0.14)	0.13	(0.13)	0.39
FHKFX	0.77	0.04	0.03	0.10	0.98	(0.81)	1.48	(1.32)	4.98
RYCVX	1.09	0.07	0.02	0.30	1.35	(1.16)	2.38	(2.11)	5.92

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