Madison Funds Correlations

Mutual Funds . USA . 
Fund . Madison Funds
MENIX Fund  USD 9.61  0.01  0.10%   
The current 90-days correlation between Madison Funds and Barings Global Floating is 0.21 (i.e., Modest 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

Very poor diversification

The correlation between Madison Funds and DJI is 0.88 (i.e., Very poor 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

  0.93MMCRX Madison Mid CapPairCorr
  0.9MMDAX Madison Moderate AllPairCorr
  0.96MNVAX Madison InvestorsPairCorr
  0.92MNVRX Madison InvestorsPairCorr
  0.94MADAX Madison Dividend IncomePairCorr
  0.89MADRX Madison FundsPairCorr
  0.91MAGSX Madison AggressivePairCorr
  0.89MSCIX Madison Small CapPairCorr
  0.89MSCRX Madison Small CapPairCorr
  0.87MASMX Madison Small CapPairCorr
  0.78MBORX Madison FundsPairCorr
  0.72MBOYX Madison E BondPairCorr
  0.94MCNAX Madison ConservativePairCorr
  0.93MDCIX Madison Mid CapPairCorr
  0.89MDMIX Madison Dividend IncomePairCorr
  0.96MENAX Madison Ered CallPairCorr
  1.0MENRX Madison Ered CallPairCorr
  0.62MERAX Madison Mid CapPairCorr
  0.76MIIRX Madison FundsPairCorr
  0.73MIIBX Madison High QualityPairCorr
  0.92MINVX Madison InvestorsPairCorr
  0.91MIVIX Madison InvestorsPairCorr
  0.91GTFHX Madison Tax FreePairCorr
  0.61GTSGX Madison Mid CapPairCorr
  0.95JEPCX Jpmorgan Research EquityPairCorr
  0.83GSPAX Goldman Sachs EquityPairCorr
  0.85GSPQX Goldman Sachs EquityPairCorr
  0.83GSPKX Goldman Sachs EquityPairCorr
  0.86GSFPX Goldman Sachs EquityPairCorr
  0.86GIDWX Goldman Sachs EquityPairCorr

Related Correlations Analysis


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

APDPX
+ 0.97
LFLCX
CABIX
+ 0.96
SMYIX
APDPX
+ 0.93
CABIX
APDPX
+ 0.9
SMYIX
LFLCX
+ 0.9
CABIX
LFLCX
+ 0.85
SMYIX
  

High negative correlations

BXFIX
- 0.22
LFLCX
BXFIX
- 0.19
APDPX
BXFIX
- 0.02
CABIX

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.

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