Madison Mid Correlations

MERAX Fund

USD 15.27 0.10 0.65%

The current 90-days correlation between Madison Mid Cap and Clearbridge Large Cap is 0.41 (i.e., Very weak diversification). The correlation of Madison Mid 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 Mid Correlation With Market

Almost no diversification

The correlation between Madison Mid Cap and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Mid 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 Mid 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 nation.

Moving together with Madison Mutual Fund

0.97	MMCRX	Madison Mid Cap	Pair Corr
0.91	MMDAX	Madison Moderate All	Pair Corr
0.93	MNVAX	Madison Investors	Pair Corr
0.91	MNVRX	Madison Investors	Pair Corr
0.98	BVAOX	Broadview Opportunity	Pair Corr
0.92	MADAX	Madison Dividend Income	Pair Corr
0.87	MADRX	Madison Funds	Pair Corr
0.92	MAGSX	Madison Aggressive	Pair Corr
0.92	BHBFX	Madison Dividend Income	Pair Corr
0.92	MSCIX	Madison Small Cap	Pair Corr
0.92	MSCRX	Madison Small Cap	Pair Corr
0.92	MASMX	Madison Small Cap	Pair Corr
0.95	MBLAX	Madison Diversified	Pair Corr
0.77	MBOIX	Madison Core Bond	Pair Corr
0.75	MBORX	Madison Funds	Pair Corr
0.74	MBOYX	Madison E Bond	Pair Corr
0.72	MBOAX	Madison E Bond	Pair Corr
0.97	MCNAX	Madison Servative	Pair Corr
0.97	MDCIX	Madison Mid Cap	Pair Corr
0.87	MDMIX	Madison Dividend Income	Pair Corr
0.92	MENAX	Madison Ered Call	Pair Corr
0.92	MENIX	Madison Funds	Pair Corr
0.92	MENRX	Madison Ered Call	Pair Corr
0.91	MENYX	Madison Ered Call	Pair Corr
0.68	MIIRX	Madison Funds	Pair Corr
0.65	MIIBX	Madison High Quality	Pair Corr
0.93	MINVX	Madison Investors	Pair Corr
0.91	MIVIX	Madison Investors	Pair Corr
0.86	GTFHX	Madison Tax Free	Pair Corr
1.0	GTSGX	Madison Mid Cap	Pair Corr
0.96	VIMAX	Vanguard Mid Cap	Pair Corr
0.96	VIMSX	Vanguard Mid Cap	Pair Corr
0.96	VMCPX	Vanguard Mid Cap	Pair Corr
0.96	VMCIX	Vanguard Mid Cap	Pair Corr
0.95	VEXAX	Vanguard Extended Market	Pair Corr
0.95	VEMPX	Vanguard Extended Market	Pair Corr
0.95	VIEIX	Vanguard Extended Market	Pair Corr
0.72	VSEMX	Vanguard Extended Market	Pair Corr
0.95	VEXMX	Vanguard Extended Market	Pair Corr

Moving against Madison Mutual Fund

0.65	IFN	India Closed	Pair Corr
0.56	IIF	Morgan Stanley India	Pair Corr

Related Correlations Analysis

	GTSGX	INUTX	HASCX	MADCX	MDDCX	BRMKX	BRMAX	TRJWX	SAIFX	SINAX
GTSGX		0.89	0.96	0.88	0.87	0.94	0.98	0.9	0.87	0.87	GTSGX
INUTX	0.89		0.95	0.81	0.81	0.96	0.89	0.77	0.91	0.91	INUTX
HASCX	0.96	0.95		0.9	0.9	0.95	0.95	0.89	0.89	0.89	HASCX
MADCX	0.88	0.81	0.9		1.0	0.86	0.87	0.95	0.87	0.87	MADCX
MDDCX	0.87	0.81	0.9	1.0		0.86	0.87	0.95	0.87	0.87	MDDCX
BRMKX	0.94	0.96	0.95	0.86	0.86		0.94	0.84	0.95	0.95	BRMKX
BRMAX	0.98	0.89	0.95	0.87	0.87	0.94		0.91	0.87	0.87	BRMAX
TRJWX	0.9	0.77	0.89	0.95	0.95	0.84	0.91		0.84	0.83	TRJWX
SAIFX	0.87	0.91	0.89	0.87	0.87	0.95	0.87	0.84		1.0	SAIFX
SINAX	0.87	0.91	0.89	0.87	0.87	0.95	0.87	0.83	1.0		SINAX
	GTSGX	INUTX	HASCX	MADCX	MDDCX	BRMKX	BRMAX	TRJWX	SAIFX	SINAX

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Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Mid 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 Mid'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
GTSGX	0.67	(0.01)	(0.01)	0.02	0.78	(0.72)	1.67	(1.36)	4.28
INUTX	0.62	0.16	0.24	0.21	0.35	(0.75)	1.33	(1.08)	7.63
HASCX	0.92	0.18	0.18	0.17	0.80	(1.09)	2.46	(1.65)	5.68
MADCX	0.71	0.12	0.12	0.21	0.70	(0.80)	1.52	(1.32)	3.42
MDDCX	0.71	0.12	0.12	0.21	0.69	(0.77)	1.51	(1.31)	3.39
BRMKX	0.71	0.06	0.06	0.11	0.75	(0.77)	1.52	(1.54)	5.34
BRMAX	0.66	(0.01)	(0.01)	0.03	0.81	(0.68)	1.50	(1.48)	3.40
TRJWX	0.25	0.01	(0.04)	0.07	0.26	(0.28)	0.58	(0.58)	1.49
SAIFX	0.72	0.21	0.31	0.27	0.20	(0.85)	1.31	(0.97)	13.62
SINAX	0.73	0.21	0.31	0.26	0.19	(0.85)	1.33	(0.94)	13.63

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