Mh Elite Correlations

MHEIX Fund

USD 5.40 0.01 0.18%

The current 90-days correlation between Mh Elite Income and Aquila Tax Free Fund is 0.11 (i.e., Average diversification). The correlation of Mh Elite 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.

Mh Elite Correlation With Market

Very weak diversification

The correlation between Mh Elite Income and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mh Elite 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 Mh Elite 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 gross domestic product.

Moving together with MHEIX Mutual Fund

0.76	MHELX	Mh Elite Small	Pair Corr
0.81	MHESX	Mh Elite Select	Pair Corr
0.8	CIBFX	Capital Income Builder	Pair Corr
0.8	CAIBX	Capital Income Builder	Pair Corr
0.8	CIBCX	Capital Income Builder	Pair Corr
0.8	RIRAX	Capital Income Builder	Pair Corr
0.8	RIREX	Capital Income Builder	Pair Corr
0.8	RIRCX	Capital Income Builder	Pair Corr
0.8	RIRFX	Capital Income Builder	Pair Corr
0.8	CIRCX	Capital Income Builder	Pair Corr
0.8	CIREX	Capital Income Builder	Pair Corr
0.8	RIRBX	Capital Income Builder	Pair Corr
0.64	SEAKX	Steward Select Bond	Pair Corr
0.76	VGSAX	Virtus Global Real	Pair Corr
0.75	MPMNX	Mfs Municipal Income	Pair Corr
0.77	EMLKX	Mfs Emerging Markets	Pair Corr
0.71	MLPSX	Mid Cap Value	Pair Corr
0.72	DMTFX	Delaware Tax Free	Pair Corr
0.73	FAAAX	Franklin K2 Alternative	Pair Corr
0.8	SWYBX	Schwab Target 2015	Pair Corr
0.74	CGNFX	American Funds Growth	Pair Corr
0.65	MVALX	Meridian Contrarian	Pair Corr
0.81	FESOX	First Eagle Overseas	Pair Corr
0.68	PGGAX	American Funds Global	Pair Corr
0.71	FUNFX	American Funds Funda	Pair Corr
0.75	SIEDX	Sit Emerging Markets	Pair Corr
0.8	NPSFX	Nuveen Preferred Sec	Pair Corr

Related Correlations Analysis

	MHEFX	MHELX	CMNVX	SFLNX	FPURX	LLDYX	DCNJX	UTAHX
MHEFX		0.45	0.55	0.36	0.48	0.26	0.12	0.28	MHEFX
MHELX	0.45		0.84	0.92	0.88	0.8	0.82	0.9	MHELX
CMNVX	0.55	0.84		0.9	0.94	0.8	0.76	0.86	CMNVX
SFLNX	0.36	0.92	0.9		0.93	0.92	0.88	0.96	SFLNX
FPURX	0.48	0.88	0.94	0.93		0.81	0.79	0.87	FPURX
LLDYX	0.26	0.8	0.8	0.92	0.81		0.85	0.91	LLDYX
DCNJX	0.12	0.82	0.76	0.88	0.79	0.85		0.96	DCNJX
UTAHX	0.28	0.9	0.86	0.96	0.87	0.91	0.96		UTAHX
	MHEFX	MHELX	CMNVX	SFLNX	FPURX	LLDYX	DCNJX	UTAHX

Risk-Adjusted Indicators

There is a big difference between MHEIX Mutual Fund performing well and Mh Elite 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 Mh Elite'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
MHEFX	0.47	0.04	0.00	(0.25)	0.52	(0.58)	0.90	(1.01)	3.58
MHELX	0.90	0.21	0.11	(0.68)	1.26	(1.00)	1.93	(1.45)	12.96
CMNVX	0.29	0.04	0.04	0.13	0.25	(0.34)	0.47	(0.63)	3.19
SFLNX	0.49	0.07	0.09	0.13	0.45	(0.55)	0.98	(0.99)	3.20
FPURX	0.43	0.02	0.00	0.07	0.52	(0.44)	0.74	(1.12)	2.71
LLDYX	0.05	0.00	0.00	0.18	0.00	0.00	0.26	0.00	0.78
DCNJX	0.07	0.01	(0.11)	(8.73)	0.00	(0.12)	0.17	(0.09)	0.51
UTAHX	0.08	0.03	(0.05)	2.90	0.00	(0.14)	0.21	(0.10)	0.52

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Mh Elite Correlations

Mh Elite Correlation With Market

Very weak diversification

Moving together with MHEIX Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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