Madison Dividend Correlations

MADAX Fund

USD 26.80 0.07 0.26%

The current 90-days correlation between Madison Dividend Income and Madison Small Cap is 0.45 (i.e., Very weak 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 0.82 (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

0.88	MMDAX	Madison Moderate All	Pair Corr
0.77	MNVAX	Madison Investors	Pair Corr
0.8	MNVRX	Madison Investors	Pair Corr
0.81	BVAOX	Broadview Opportunity	Pair Corr
0.9	MADRX	Madison Funds	Pair Corr
0.89	MAGSX	Madison Aggressive	Pair Corr
0.98	BHBFX	Madison Dividend Income	Pair Corr
0.82	MSCIX	Madison Small Cap	Pair Corr
0.82	MSCRX	Madison Small Cap	Pair Corr
0.82	MASMX	Madison Small Cap	Pair Corr
0.83	MBORX	Madison Funds	Pair Corr
0.8	MBOYX	Madison E Bond	Pair Corr
0.93	MCNAX	Madison Conservative	Pair Corr
0.82	MDCIX	Madison Mid Cap	Pair Corr
0.9	MDMIX	Madison Dividend Income	Pair Corr
0.96	MENAX	Madison Ered Call	Pair Corr
0.96	MENIX	Madison Funds	Pair Corr
0.96	MENRX	Madison Ered Call	Pair Corr
0.89	MENYX	Madison Ered Call	Pair Corr
0.82	MERAX	Madison Mid Cap	Pair Corr
0.81	MIIRX	Madison Funds	Pair Corr
0.8	MIIBX	Madison High Quality	Pair Corr
0.73	MINVX	Madison Investors	Pair Corr
0.8	MIVIX	Madison Investors	Pair Corr
0.95	GTFHX	Madison Tax Free	Pair Corr
0.77	GTSGX	Madison Mid Cap	Pair Corr
0.96	VVIAX	Vanguard Value Index	Pair Corr
0.83	AWSHX	Washington Mutual	Pair Corr
0.82	WSHCX	Washington Mutual	Pair Corr
0.8	WSHFX	Washington Mutual	Pair Corr
0.75	FWWMX	American Funds Washington	Pair Corr
0.75	FWMMX	American Funds Washington	Pair Corr
0.81	DODGX	Dodge Stock Fund	Pair Corr
0.92	AMFFX	American Mutual	Pair Corr

Moving against Madison Mutual Fund

0.88	UIPIX	Ultrashort Mid Cap	Pair Corr
0.85	CESGX	Coho Relative Value	Pair Corr
0.67	TCSUX	Cleartrack 2020 Class	Pair Corr
0.65	TCTGX	Transamerica Cleartrack	Pair Corr
0.64	TDKTX	Cleartrack 2015 Class	Pair Corr
0.64	TCTJX	Transamerica Cleartrack	Pair Corr

Related Correlations Analysis

	MMCRX	MMDAX	MNVAX	MNVRX	BVAOX	MADAX	MAGSX	BHBFX	MSCIX
MMCRX		0.74	0.47	0.68	0.57	0.57	0.74	0.58	0.73	MMCRX
MMDAX	0.74		0.86	0.95	0.9	0.88	1.0	0.89	0.96	MMDAX
MNVAX	0.47	0.86		0.93	0.91	0.77	0.87	0.77	0.89	MNVAX
MNVRX	0.68	0.95	0.93		0.9	0.8	0.95	0.8	0.99	MNVRX
BVAOX	0.57	0.9	0.91	0.9		0.81	0.91	0.84	0.92	BVAOX
MADAX	0.57	0.88	0.77	0.8	0.81		0.89	0.98	0.82	MADAX
MAGSX	0.74	1.0	0.87	0.95	0.91	0.89		0.9	0.96	MAGSX
BHBFX	0.58	0.89	0.77	0.8	0.84	0.98	0.9		0.82	BHBFX
MSCIX	0.73	0.96	0.89	0.99	0.92	0.82	0.96	0.82		MSCIX
	MMCRX	MMDAX	MNVAX	MNVRX	BVAOX	MADAX	MAGSX	BHBFX	MSCIX

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
MMCRX	0.65	0.10	0.10	0.21	0.54	(0.76)	1.68	(1.25)	4.59
MMDAX	0.42	0.12	0.11	1.96	0.18	(0.50)	1.06	(0.84)	5.00
MNVAX	0.60	0.09	0.02	(2.20)	0.58	(0.66)	1.62	(1.01)	4.04
MNVRX	0.71	0.21	0.18	(1.99)	0.42	(0.86)	1.91	(1.03)	8.96
BVAOX	0.81	0.06	0.08	0.12	0.79	(0.92)	1.96	(1.46)	4.73
MADAX	0.56	0.15	0.12	(2.97)	0.39	(0.67)	1.27	(1.09)	2.99
MAGSX	0.53	0.15	0.13	1.86	0.35	(0.59)	1.31	(1.08)	5.78
BHBFX	0.56	0.11	0.13	0.22	0.39	(0.65)	1.30	(1.05)	2.95
MSCIX	0.98	0.29	0.24	15.84	0.60	(1.21)	2.40	(1.45)	12.02

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