Madison Funds Correlations

MIIRX Fund

USD 10.56 0.02 0.19%

The current 90-days correlation between Madison Funds and The Gabelli Healthcare is 0.35 (i.e., Weak 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

Good diversification

The correlation between Madison Funds and DJI is -0.08 (i.e., Good 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 metropolitan statistical area.

Moving together with Madison Mutual Fund

0.65	MMDCX	Madison Moderate All	Pair Corr
0.63	MBLAX	Madison Diversified	Pair Corr
0.83	MBOIX	Madison Core Bond	Pair Corr
0.83	MBORX	Madison Funds	Pair Corr
0.92	MBOYX	Madison E Bond	Pair Corr
0.84	MBOAX	Madison E Bond	Pair Corr
0.78	MCOCX	Madison Conservative	Pair Corr
0.78	MCNAX	Madison Conservative	Pair Corr
0.65	MFSIX	Mfs Series Trust	Pair Corr
0.66	MFSYX	Madison Funds	Pair Corr
0.82	MIIBX	Madison High Quality	Pair Corr
0.81	MINAX	Madison International	Pair Corr
0.81	MINYX	Madison International	Pair Corr
0.84	GTFHX	Madison Tax Free	Pair Corr

Moving against Madison Mutual Fund

0.46	MENAX	Madison Ered Call	Pair Corr
0.43	MASMX	Madison Small Cap	Pair Corr
0.42	BVAOX	Broadview Opportunity	Pair Corr
0.42	MSCIX	Madison Small Cap	Pair Corr
0.41	MSCRX	Madison Small Cap	Pair Corr
0.38	MENCX	Madison Ered Call	Pair Corr
0.34	MMCRX	Madison Mid Cap	Pair Corr
0.34	MDCIX	Madison Mid Cap	Pair Corr
0.5	MENIX	Madison Funds	Pair Corr
0.46	MENYX	Madison Ered Call	Pair Corr
0.45	MENRX	Madison Ered Call	Pair Corr
0.35	MERAX	Madison Mid Cap	Pair Corr

Related Correlations Analysis

	XXGRX	HIAHX	BHCHX	RAGHX	ETHSX	SCHLX	LYFAX
XXGRX		0.79	0.77	0.74	0.78	0.74	0.89	XXGRX
HIAHX	0.79		0.83	0.96	0.86	0.9	0.83	HIAHX
BHCHX	0.77	0.83		0.8	0.58	0.61	0.7	BHCHX
RAGHX	0.74	0.96	0.8		0.83	0.9	0.81	RAGHX
ETHSX	0.78	0.86	0.58	0.83		0.95	0.91	ETHSX
SCHLX	0.74	0.9	0.61	0.9	0.95		0.91	SCHLX
LYFAX	0.89	0.83	0.7	0.81	0.91	0.91		LYFAX
	XXGRX	HIAHX	BHCHX	RAGHX	ETHSX	SCHLX	LYFAX

Click cells to compare fundamentals

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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 Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
XXGRX	0.78	(0.07)	0.36	1.51	(1.62)	4.50
HIAHX	0.68	(0.04)	(0.17)	1.36	(1.49)	3.28
BHCHX	0.67	(0.14)	0.66	1.28	(1.58)	3.97
RAGHX	0.70	(0.03)	(0.16)	1.23	(1.33)	2.95
ETHSX	0.69	(0.04)	(0.18)	1.29	(1.15)	5.22
SCHLX	0.64	0.01	(0.08)	1.25	(1.22)	2.98
LYFAX	0.58	(0.05)	0.19	1.13	(1.18)	2.95

Trending Assets

RAGHX

Allianzgi Health Sciences

27.67 -0.28 -1

ETHSX

Eaton Vance Worldwide

13.47 -0.18 -1.32

BHCHX

Baron Health Care

18.60 -0.03 -0.16

LYFAX

Alphacentric Lifesci

13.20 0.18 1.38

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