Madison Investors Correlations

MINVX Fund

USD 31.96 0.28 0.88%

The current 90-days correlation between Madison Investors and Nuveen Large Cap is 0.84 (i.e., Very poor diversification). The correlation of Madison Investors 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 Investors Correlation With Market

Almost no diversification

The correlation between Madison Investors Fund and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Investors Fund 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 Investors Fund. 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 real.

Moving together with Madison Mutual Fund

0.9	MMCRX	Madison Mid Cap	Pair Corr
0.67	MMDAX	Madison Moderate All	Pair Corr
0.63	MMDCX	Madison Moderate All	Pair Corr
0.93	MNVAX	Madison Investors	Pair Corr
1.0	MNVRX	Madison Investors	Pair Corr
0.95	BVAOX	Broadview Opportunity	Pair Corr
0.84	MAACX	Madison Aggressive	Pair Corr
0.92	MADAX	Madison Dividend Income	Pair Corr
0.92	MADRX	Madison Funds	Pair Corr
0.85	MAGSX	Madison Aggressive	Pair Corr
0.92	BHBFX	Madison Dividend Income	Pair Corr
0.91	MSCRX	Madison Small Cap	Pair Corr
0.95	MASMX	Madison Small Cap	Pair Corr
0.8	MBLAX	Madison Diversified	Pair Corr
0.76	MBLCX	Madison Diversified	Pair Corr
0.9	MDCIX	Madison Mid Cap	Pair Corr
0.92	MDMIX	Madison Dividend Income	Pair Corr
0.62	MENIX	Madison Funds	Pair Corr
0.62	MENRX	Madison Ered Call	Pair Corr
0.61	MENYX	Madison Ered Call	Pair Corr
0.97	MERAX	Madison Mid Cap	Pair Corr
0.87	MFSIX	Mfs Series Trust	Pair Corr
0.87	MFSYX	Madison Funds	Pair Corr
1.0	MIVIX	Madison Investors	Pair Corr
0.97	GTSGX	Madison Mid Cap	Pair Corr
0.97	VTSAX	Vanguard Total Stock	Pair Corr

Moving against Madison Mutual Fund

0.62	MBOYX	Madison E Bond	Pair Corr
0.59	MBOAX	Madison E Bond	Pair Corr
0.58	MBOIX	Madison Core Bond	Pair Corr
0.57	MBORX	Madison Funds	Pair Corr
0.57	MIIRX	Madison Funds	Pair Corr
0.57	MIIBX	Madison High Quality	Pair Corr

Related Correlations Analysis

	FLRAX	FLYCX	444859BR2	SCRYY	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	ID
FLRAX		0.96	-0.77	0.61	0.0	-0.22	0.7	0.03	0.64	0.75	FLRAX
FLYCX	0.96		-0.76	0.61	0.0	-0.29	0.74	0.0	0.62	0.76	FLYCX
444859BR2	-0.77	-0.76		-0.41	0.0	0.21	-0.63	-0.02	-0.58	-0.55	444859BR2
SCRYY	0.61	0.61	-0.41		0.0	-0.22	0.42	0.28	0.46	0.52	SCRYY
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.22	-0.29	0.21	-0.22	0.0		-0.51	-0.43	-0.41	-0.17	BRRAY
MSTSX	0.7	0.74	-0.63	0.42	0.0	-0.51		0.33	0.69	0.39	MSTSX
ABHYX	0.03	0.0	-0.02	0.28	0.0	-0.43	0.33		0.56	-0.12	ABHYX
LBHIX	0.64	0.62	-0.58	0.46	0.0	-0.41	0.69	0.56		0.33	LBHIX
ID	0.75	0.76	-0.55	0.52	0.0	-0.17	0.39	-0.12	0.33		ID
	FLRAX	FLYCX	444859BR2	SCRYY	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	ID

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FLYCX	+ 0.96	FLRAX
ID	+ 0.76	FLYCX
ID	+ 0.75	FLRAX
MSTSX	+ 0.74	FLYCX
MSTSX	+ 0.7	FLRAX
LBHIX	+ 0.69	MSTSX

High negative correlations

444859BR2	- 0.77	FLRAX
444859BR2	- 0.76	FLYCX
MSTSX	- 0.63	444859BR2
LBHIX	- 0.58	444859BR2
ID	- 0.55	444859BR2
MSTSX	- 0.51	BRRAY

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Investors 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 Investors' 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
FLRAX	0.60	0.01	(0.01)	0.11	0.71	(0.64)	1.14	(1.32)	3.85
FLYCX	0.60	0.10	(0.01)	(2.44)	0.72	(0.64)	1.13	(1.33)	3.87
444859BR2	1.31	(0.03)	0.00	0.36	0.00	0.00	5.93	(4.50)	16.62
SCRYY	2.12	0.39	0.11	(0.94)	2.04	(2.86)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.11)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	0.04	(0.11)	(0.30)	0.52	(0.59)	1.21	(1.02)	2.80
ABHYX	0.16	0.00	(0.20)	0.08	0.26	(0.24)	0.34	(0.33)	1.91
LBHIX	0.11	0.01	(0.32)	0.44	0.00	(0.29)	0.24	(0.24)	0.96
ID	3.76	0.21	0.02	1.43	4.72	(5.01)	7.32	(7.69)	20.54

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