Madison High Correlations

MIIBX Fund

USD 10.43 0.04 0.38%

The current 90-days correlation between Madison High Quality and Madison Mid Cap is -0.1 (i.e., Good diversification). The correlation of Madison High 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 High Correlation With Market

Average diversification

The correlation between Madison High Quality and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison High Quality 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 High Quality. 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 bureau of labor statistics.

Moving together with Madison Mutual Fund

0.98	MBOIX	Madison Core Bond	Pair Corr
0.99	MBORX	Madison Funds	Pair Corr
0.99	MBOYX	Madison E Bond	Pair Corr
0.98	MBOAX	Madison E Bond	Pair Corr
0.77	MCOCX	Madison Servative	Pair Corr
0.73	MCNAX	Madison Servative	Pair Corr
1.0	MIIRX	Madison Funds	Pair Corr
0.85	GTFHX	Madison Tax Free	Pair Corr
0.75	GTVAX	Madison Tax Free	Pair Corr

Moving against Madison Mutual Fund

0.74	BVAOX	Broadview Opportunity	Pair Corr
0.74	MASMX	Madison Small Cap	Pair Corr
0.73	MSCIX	Madison Small Cap	Pair Corr
0.7	MADAX	Madison Dividend Income	Pair Corr
0.7	MADRX	Madison Funds	Pair Corr
0.7	BHBFX	Madison Dividend Income	Pair Corr
0.69	MDMIX	Madison Dividend Income	Pair Corr
0.59	MNVAX	Madison Investors	Pair Corr
0.59	MNVRX	Madison Investors	Pair Corr
0.55	MMCRX	Madison Mid Cap	Pair Corr
0.55	MDCIX	Madison Mid Cap	Pair Corr
0.8	LSHUX	Horizon Spin Off Downward Rally	Pair Corr
0.8	LSHEX	Kinetics Spin Off Downward Rally	Pair Corr
0.8	LSHCX	Horizon Spin Off Downward Rally	Pair Corr
0.73	SMPIX	Semiconductor Ultrasector	Pair Corr
0.72	SMPSX	Semiconductor Ultrasector	Pair Corr
0.59	MINVX	Madison Investors	Pair Corr
0.59	MIVIX	Madison Investors	Pair Corr
0.55	MERAX	Madison Mid Cap	Pair Corr
0.52	RSNYX	Victory Global Natural	Pair Corr
0.49	GTSGX	Madison Mid Cap	Pair Corr

Related Correlations Analysis

	MMCRX	MMDAX	MMDCX	MNVAX	MNVRX	BVAOX	MAACX	MADAX	MADRX	MAGSX
MMCRX		0.7	0.66	0.98	0.97	0.92	0.85	0.86	0.86	0.86	MMCRX
MMDAX	0.7		1.0	0.67	0.67	0.46	0.96	0.48	0.48	0.95	MMDAX
MMDCX	0.66	1.0		0.63	0.63	0.41	0.94	0.42	0.42	0.93	MMDCX
MNVAX	0.98	0.67	0.63		1.0	0.95	0.84	0.92	0.92	0.86	MNVAX
MNVRX	0.97	0.67	0.63	1.0		0.95	0.83	0.93	0.93	0.85	MNVRX
BVAOX	0.92	0.46	0.41	0.95	0.95		0.67	0.93	0.93	0.7	BVAOX
MAACX	0.85	0.96	0.94	0.84	0.83	0.67		0.68	0.67	1.0	MAACX
MADAX	0.86	0.48	0.42	0.92	0.93	0.93	0.68		1.0	0.7	MADAX
MADRX	0.86	0.48	0.42	0.92	0.93	0.93	0.67	1.0		0.7	MADRX
MAGSX	0.86	0.95	0.93	0.86	0.85	0.7	1.0	0.7	0.7		MAGSX
	MMCRX	MMDAX	MMDCX	MNVAX	MNVRX	BVAOX	MAACX	MADAX	MADRX	MAGSX

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Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison High 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 High'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
MMCRX	0.71	0.08	(0.03)	0.75	0.69	(0.81)	1.50	(1.27)	4.33
MMDAX	0.31	0.01	(0.24)	0.51	0.33	(0.36)	0.70	(0.62)	1.69
MMDCX	0.31	0.01	(0.25)	0.31	0.34	(0.33)	0.71	(0.62)	1.80
MNVAX	0.60	0.09	(0.03)	7.22	0.59	(0.67)	1.05	(1.24)	4.55
MNVRX	0.60	0.10	(0.03)	8.59	0.59	(0.67)	1.04	(1.23)	4.53
BVAOX	0.79	0.19	0.08	2.63	0.73	(0.90)	1.86	(1.34)	5.42
MAACX	0.41	0.03	(0.16)	1.52	0.46	(0.44)	0.95	(0.78)	2.36
MADAX	0.48	0.11	(0.01)	(5.16)	0.33	(0.54)	1.25	(0.80)	3.02
MADRX	0.48	0.12	(0.01)	(4.42)	0.33	(0.55)	1.22	(0.84)	3.05
MAGSX	0.41	0.03	(0.16)	1.66	0.47	(0.44)	1.00	(0.84)	2.35

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