Madison Small Correlations

MASMX Fund

USD 11.44 0.08 0.69%

The current 90-days correlation between Madison Small Cap and Eagle Mlp Strategy is 0.29 (i.e., Modest diversification). The correlation of Madison Small 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 Small Correlation With Market

Weak diversification

The correlation between Madison Small Cap and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Small Cap 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 Small Cap. 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 population.

Moving together with Madison Mutual Fund

0.96	MMCRX	Madison Mid Cap	Pair Corr
0.87	MMDAX	Madison Moderate All	Pair Corr
0.91	MMDCX	Madison Moderate All	Pair Corr
0.97	MNVAX	Madison Investors	Pair Corr
0.97	MNVRX	Madison Investors	Pair Corr
1.0	BVAOX	Broadview Opportunity	Pair Corr
0.94	MAACX	Madison Aggressive	Pair Corr
0.91	MADAX	Madison Dividend Income	Pair Corr
0.93	MADRX	Madison Funds	Pair Corr
0.93	MAGSX	Madison Aggressive	Pair Corr
0.91	BHBFX	Madison Dividend Income	Pair Corr
1.0	MSCIX	Madison Small Cap	Pair Corr
1.0	MSCRX	Madison Small Cap	Pair Corr
0.67	MBLAX	Madison Diversified	Pair Corr
0.7	MBLCX	Madison Diversified	Pair Corr
0.73	MBOIX	Madison Core Bond	Pair Corr
0.7	MBORX	Madison Funds	Pair Corr
0.72	MBOYX	Madison E Bond	Pair Corr
0.74	MBOAX	Madison E Bond	Pair Corr
0.77	MCOCX	Madison Conservative	Pair Corr
0.74	MCNAX	Madison Conservative	Pair Corr
0.96	MDCIX	Madison Mid Cap	Pair Corr
0.91	MDMIX	Madison Dividend Income	Pair Corr
0.68	MENAX	Madison Ered Call	Pair Corr
0.69	MENCX	Madison Ered Call	Pair Corr
0.7	MENIX	Madison Funds	Pair Corr
0.68	MENRX	Madison Ered Call	Pair Corr
0.69	MENYX	Madison Ered Call	Pair Corr
0.97	MERAX	Madison Mid Cap	Pair Corr
0.97	MINVX	Madison Investors	Pair Corr
0.97	MIVIX	Madison Investors	Pair Corr
0.96	GTSGX	Madison Mid Cap	Pair Corr

Moving against Madison Mutual Fund

0.39

COGVX

Cognios Large Cap

Pair Corr

Related Correlations Analysis

	EGLNX	RALAX	ANGCX	FEMDX	REMVX	XMSDX
EGLNX		0.05	0.28	0.63	-0.55	-0.01	EGLNX
RALAX	0.05		0.37	0.48	0.51	0.83	RALAX
ANGCX	0.28	0.37		0.67	0.09	0.22	ANGCX
FEMDX	0.63	0.48	0.67		-0.13	0.33	FEMDX
REMVX	-0.55	0.51	0.09	-0.13		0.59	REMVX
XMSDX	-0.01	0.83	0.22	0.33	0.59		XMSDX
	EGLNX	RALAX	ANGCX	FEMDX	REMVX	XMSDX

Click cells to compare fundamentals

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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

XMSDX	+ 0.83	RALAX
FEMDX	+ 0.67	ANGCX
FEMDX	+ 0.63	EGLNX
XMSDX	+ 0.59	REMVX
REMVX	+ 0.51	RALAX
FEMDX	+ 0.48	RALAX

High negative correlations

REMVX	- 0.55	EGLNX
REMVX	- 0.13	FEMDX
XMSDX	- 0.01	EGLNX

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Small 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 Small'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
EGLNX	1.01	0.14	0.06	0.36	1.45	(1.01)	2.03	(2.55)	6.78
RALAX	0.45	0.01	(0.08)	(2.03)	0.70	(0.44)	1.03	(0.86)	3.65
ANGCX	0.11	0.00	(0.41)	(0.51)	0.05	(0.21)	0.35	(0.24)	0.94
FEMDX	0.17	0.02	(0.17)	0.63	0.00	(0.22)	0.35	(0.35)	1.29
REMVX	0.69	(0.09)	0.00	(0.17)	0.00	0.00	1.40	(1.62)	3.39
XMSDX	0.26	(0.01)	(0.09)	(0.06)	0.67	(0.27)	0.40	(0.26)	4.70

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