Madison Small Correlations

MASMX Fund

USD 9.70 0.07 0.72%

The current 90-days correlation between Madison Small Cap and Intermediate Government Bond is -0.01 (i.e., Good 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

Average diversification

The correlation between Madison Small Cap and DJI is 0.12 (i.e., Average 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 board of governors.

Moving together with Madison Mutual Fund

0.64	MMCRX	Madison Mid Cap	Pair Corr
0.8	MMDAX	Madison Moderate All	Pair Corr
0.66	MNVAX	Madison Investors	Pair Corr
0.85	BVAOX	Broadview Opportunity	Pair Corr
0.66	MADAX	Madison Dividend Income	Pair Corr
0.66	MADRX	Madison Funds	Pair Corr
0.76	MAGSX	Madison Aggressive	Pair Corr
0.66	BHBFX	Madison Dividend Income	Pair Corr
0.85	MSCIX	Madison Small Cap	Pair Corr
0.85	MSCRX	Madison Small Cap	Pair Corr
0.64	MDCIX	Madison Mid Cap	Pair Corr
0.77	MDMIX	Madison Dividend Income	Pair Corr
0.75	MENAX	Madison Ered Call	Pair Corr
0.79	MERAX	Madison Mid Cap	Pair Corr
0.63	GTSGX	Madison Mid Cap	Pair Corr

Related Correlations Analysis

	DPIGX	RYAQX	CGTFX	GGTPX	SNGYX	SSAGX	SIGVX	UGSDX
DPIGX		0.6	0.75	0.65	0.89	0.86	0.86	0.64	DPIGX
RYAQX	0.6		0.0	-0.16	0.32	0.82	0.8	0.7	RYAQX
CGTFX	0.75	0.0		0.97	0.87	0.4	0.41	0.19	CGTFX
GGTPX	0.65	-0.16	0.97		0.82	0.28	0.29	0.13	GGTPX
SNGYX	0.89	0.32	0.87	0.82		0.69	0.69	0.51	SNGYX
SSAGX	0.86	0.82	0.4	0.28	0.69		0.99	0.85	SSAGX
SIGVX	0.86	0.8	0.41	0.29	0.69	0.99		0.85	SIGVX
UGSDX	0.64	0.7	0.19	0.13	0.51	0.85	0.85		UGSDX
	DPIGX	RYAQX	CGTFX	GGTPX	SNGYX	SSAGX	SIGVX	UGSDX

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

SIGVX	+ 0.99	SSAGX
GGTPX	+ 0.97	CGTFX
SNGYX	+ 0.89	DPIGX
SNGYX	+ 0.87	CGTFX
SSAGX	+ 0.86	DPIGX
SIGVX	+ 0.86	DPIGX

High negative correlations

GGTPX	- 0.16	RYAQX
CGTFX	- 0.0	RYAQX

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
DPIGX	0.08	0.00	(0.59)	0.10	0.00	(0.13)	0.21	(0.10)	0.52
RYAQX	0.39	0.03	(0.11)	(0.14)	0.43	(0.44)	0.98	(0.61)	2.24
CGTFX	0.13	0.00	(0.37)	(0.17)	0.11	(0.16)	0.25	(0.25)	0.91
GGTPX	0.14	0.00	(0.32)	1.42	0.15	(0.16)	0.30	(0.30)	1.06
SNGYX	0.13	0.01	(0.39)	(0.52)	0.06	(0.17)	0.29	(0.29)	0.87
SSAGX	0.04	0.00	0.00	(1.05)	0.00	0.00	0.10	(0.10)	0.51
SIGVX	0.05	0.01	(0.65)	(1.91)	0.00	(0.13)	0.10	(0.10)	0.51
UGSDX	0.02	0.00	0.00	0.27	0.00	0.00	0.00	0.00	0.52

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