Madison Funds Correlations

Mutual Funds . USA . 
Fund . Madison Funds
MFSYX Fund  USD 11.65  0.01  0.09%   
The current 90-days correlation between Madison Funds and Madison Mid Cap is 0.75 (i.e., Poor 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

Weak diversification

The correlation between Madison Funds and DJI is 0.39 (i.e., Weak 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 manufacturing.

Moving together with Madison Mutual Fund

  0.67MMCRX Madison Mid CapPairCorr
  0.72MMDAX Madison Moderate AllPairCorr
  0.76MMDCX Madison Moderate AllPairCorr
  0.7MNVAX Madison InvestorsPairCorr
  0.7MNVRX Madison InvestorsPairCorr
  0.7MAACX Madison AggressivePairCorr
  0.72MAGSX Madison AggressivePairCorr
  0.84MBLAX Madison DiversifiedPairCorr
  0.82MBLCX Madison DiversifiedPairCorr
  0.68MBOIX Madison Core BondPairCorr
  0.62MBORX Madison FundsPairCorr
  0.62MBOYX Madison E BondPairCorr
  0.66MBOAX Madison E BondPairCorr
  0.85MCOCX Madison ConservativePairCorr
  0.87MCNAX Madison ConservativePairCorr
  0.67MDCIX Madison Mid CapPairCorr
  0.64MERAX Madison Mid CapPairCorr
  0.88MFSIX Mfs Series TrustPairCorr
  0.63MIIRX Madison FundsPairCorr
  0.7MIIBX Madison High QualityPairCorr
  0.7MINVX Madison InvestorsPairCorr
  0.61MINYX Madison InternationalPairCorr
  0.7MIVIX Madison InvestorsPairCorr
  0.63GTFHX Madison Tax FreePairCorr
  0.66GTSGX 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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