Madison Funds Correlations

Mutual Funds . USA . 
Fund . Madison Funds
MENIX Fund  USD 9.50  0.07  0.74%   
The current 90-days correlation between Madison Funds and Madison Mid Cap is 0.16 (i.e., Average diversification). The correlation of Madison Funds 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 Funds Correlation With Market

Modest diversification

The correlation between Madison Funds and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Funds 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 Funds . 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 gross domestic product.

Moving together with Madison Mutual Fund

  0.79MMCRX Madison Mid CapPairCorr
  0.8MMDAX Madison Moderate AllPairCorr
  0.82MMDCX Madison Moderate AllPairCorr
  0.74MNVAX Madison InvestorsPairCorr
  0.74MNVRX Madison InvestorsPairCorr
  0.7BVAOX Broadview OpportunityPairCorr
  0.81MAACX Madison AggressivePairCorr
  0.79MADAX Madison Dividend IncomePairCorr
  0.78MADRX Madison FundsPairCorr
  0.81MAGSX Madison AggressivePairCorr
  0.79BHBFX Madison Dividend IncomePairCorr
  0.7MSCIX Madison Small CapPairCorr
  0.7MSCRX Madison Small CapPairCorr
  0.7MASMX Madison Small CapPairCorr
  0.77MBLAX Madison DiversifiedPairCorr
  0.77MBLCX Madison DiversifiedPairCorr
  0.74MBOIX Madison Core BondPairCorr
  0.71MBORX Madison FundsPairCorr
  0.74MBOYX Madison E BondPairCorr
  0.78MBOAX Madison E BondPairCorr
  0.79MCOCX Madison ConservativePairCorr
  0.76MCNAX Madison ConservativePairCorr
  0.79MDCIX Madison Mid CapPairCorr
  0.79MDMIX Madison Dividend IncomePairCorr
  0.93MENAX Madison Ered CallPairCorr
  0.93MENCX Madison Ered CallPairCorr
  0.93MENRX Madison Ered CallPairCorr
  0.93MENYX Madison Ered CallPairCorr
  0.79MERAX Madison Mid CapPairCorr
  0.74MINVX Madison InvestorsPairCorr
  0.74MIVIX Madison InvestorsPairCorr
  0.79GTSGX Madison Mid CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Funds 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 Funds' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MMCRX  0.76 (0.06) 0.00 (0.03) 0.00 
 0.00 
 1.60 
(1.69)
 8.55 
MMDAX  0.34 (0.01)(0.12)(0.16) 0.52 
(0.39)
 0.64 
(0.64)
 2.53 
MMDCX  0.34 (0.03) 0.00 (0.05) 0.00 
 0.00 
 0.73 
(0.63)
 2.47 
MNVAX  0.68 (0.03)(0.05) 0.01  1.31 
(0.67)
 1.32 
(1.25)
 9.45 
MNVRX  0.68 (0.03)(0.05) 0.01  1.30 
(0.68)
 1.31 
(1.24)
 9.33 
BVAOX  0.90 (0.07) 0.00 (0.04) 0.00 
 0.00 
 1.77 
(1.42)
 13.99 
MAACX  0.44 (0.05) 0.00 (0.06) 0.00 
 0.00 
 0.89 
(0.80)
 3.98 
MADAX  0.72 (0.18) 0.00 (0.42) 0.00 
 0.00 
 1.10 
(1.20)
 12.69 
MADRX  0.72 (0.18) 0.00 (0.62) 0.00 
 0.00 
 1.10 
(1.17)
 12.66 
MAGSX  0.44 (0.05) 0.00 (0.05) 0.00 
 0.00 
 0.86 
(0.85)
 3.93 

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