Meridian Equity Correlations

MEIFX Fund

USD 15.39 0.10 0.65%

The current 90-days correlation between Meridian Equity Income and Morgan Stanley Global is 0.54 (i.e., Very weak diversification). The correlation of Meridian Equity 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.

Meridian Equity Correlation With Market

Poor diversification

The correlation between Meridian Equity Income and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meridian Equity 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 Meridian Equity 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 census.

Moving together with Meridian Mutual Fund

1.0	MRAEX	Meridian Equity Income	Pair Corr
0.67	MRAGX	Meridian Growth	Pair Corr
1.0	MRCEX	Meridian Equity Income	Pair Corr
0.66	MRCGX	Meridian Growth	Pair Corr
1.0	MRIEX	Meridian Equity Income	Pair Corr
0.67	MRIGX	Meridian Growth	Pair Corr
0.67	MRRGX	Meridian Growth	Pair Corr
0.72	MSGAX	Meridian Small Cap	Pair Corr
0.71	MSGCX	Meridian Small Cap	Pair Corr
0.72	MSGGX	Meridian Small Cap	Pair Corr
0.72	MSGRX	Meridian Small Cap	Pair Corr
0.86	MVALX	Meridian Contrarian	Pair Corr
0.67	MERDX	Meridian Growth	Pair Corr
0.86	MFCAX	Meridian Contrarian	Pair Corr
0.86	MFCCX	Meridian Contrarian	Pair Corr
0.86	MFCIX	Meridian Contrarian	Pair Corr
0.72	MISGX	Meridian Small Cap	Pair Corr
0.98	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.98	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.98	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.96	GTENX	Gateway Fund Class	Pair Corr
0.96	GTECX	Gateway Fund Class	Pair Corr
0.96	GTEYX	Gateway Fund Class	Pair Corr
0.96	GATEX	Gateway Fund Class	Pair Corr
0.97	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.93	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.97	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.71	WHIYX	Ivy High Income	Pair Corr
0.76	IVHIX	Ivy High Income	Pair Corr
0.75	IHIFX	Ivy High Income	Pair Corr
0.71	WRHIX	Ivy High Income	Pair Corr
0.71	WHIAX	Ivy High Income	Pair Corr
0.83	NML	Neuberger Berman Mlp	Pair Corr
0.69	SBCPX	Qs Defensive Growth	Pair Corr
0.67	SGPGX	Sgi Prudent Growth	Pair Corr
0.82	PFN	Pimco Income Strategy	Pair Corr

Related Correlations Analysis

	MGKAX	WRLDX	MGFZX	WIGOX	EQTYX	DSDYX	CNGLX
MGKAX		0.81	0.38	0.65	0.16	-0.21	0.55	MGKAX
WRLDX	0.81		0.51	0.86	0.13	-0.23	0.46	WRLDX
MGFZX	0.38	0.51		0.57	0.21	-0.12	0.5	MGFZX
WIGOX	0.65	0.86	0.57		0.06	-0.28	0.25	WIGOX
EQTYX	0.16	0.13	0.21	0.06		0.57	0.53	EQTYX
DSDYX	-0.21	-0.23	-0.12	-0.28	0.57		-0.02	DSDYX
CNGLX	0.55	0.46	0.5	0.25	0.53	-0.02		CNGLX
	MGKAX	WRLDX	MGFZX	WIGOX	EQTYX	DSDYX	CNGLX

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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

WIGOX	+ 0.86	WRLDX
WRLDX	+ 0.81	MGKAX
WIGOX	+ 0.65	MGKAX
WIGOX	+ 0.57	MGFZX
DSDYX	+ 0.57	EQTYX
CNGLX	+ 0.55	MGKAX

High negative correlations

DSDYX	- 0.28	WIGOX
DSDYX	- 0.23	WRLDX
DSDYX	- 0.21	MGKAX
DSDYX	- 0.12	MGFZX
CNGLX	- 0.02	DSDYX

Risk-Adjusted Indicators

There is a big difference between Meridian Mutual Fund performing well and Meridian Equity 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 Meridian Equity'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
MGKAX	0.72	(0.08)	(0.12)	0.01	0.89	(0.70)	1.39	(1.20)	3.63
WRLDX	0.48	(0.03)	(0.13)	0.08	0.45	(0.56)	0.92	(0.97)	2.75
MGFZX	0.74	(0.11)	(0.12)	(0.01)	1.03	(0.72)	1.58	(2.12)	4.78
WIGOX	0.76	(0.01)	(0.01)	0.11	0.74	(0.88)	1.54	(1.24)	4.08
EQTYX	0.42	0.00	(0.19)	0.09	0.44	(0.62)	1.11	(0.91)	2.53
DSDYX	0.16	(0.01)	(0.67)	0.97	0.18	(0.18)	0.34	(0.24)	0.92
CNGLX	0.53	(0.01)	(0.16)	(2.20)	0.78	(0.50)	1.04	(1.18)	3.68

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