Meridian Equity Correlations

Mutual Funds . USA . 
Fund . Meridian Equity Income
MRAEX Fund  USD 12.72  0.03  0.24%   
The current 90-days correlation between Meridian Equity Income and Meridian Growth Fund is 0.67 (i.e., Poor diversification). The correlation of Meridian Equity 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.

Meridian Equity Correlation With Market

Significant diversification

The correlation between Meridian Equity Income and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meridian Equity 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 Meridian Equity 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 manufacturing.

Moving together with Meridian Mutual Fund

  0.94MRAGX Meridian GrowthPairCorr
  0.86MRCEX Meridian Equity IncomePairCorr
  0.9MRCGX Meridian GrowthPairCorr
  0.91MRIEX Meridian Equity IncomePairCorr
  0.89MRIGX Meridian GrowthPairCorr
  0.89MRRGX Meridian GrowthPairCorr
  0.92MSGAX Meridian Small CapPairCorr
  0.89MSGCX Meridian Small CapPairCorr
  0.88MSGRX Meridian Small CapPairCorr
  0.9MVALX Meridian TrarianPairCorr
  0.87MEIFX Meridian Equity IncomePairCorr
  0.89MERDX Meridian GrowthPairCorr
  0.93MFCAX Meridian TrarianPairCorr
  0.9MFCIX Meridian TrarianPairCorr
  0.88MISGX Meridian Small CapPairCorr
  0.7JHQCX Jpmorgan Hedged EquityPairCorr
  0.7JHEQX Jpmorgan Hedged EquityPairCorr
  0.71JHQAX Jpmorgan Hedged EquityPairCorr
  0.61GATEX Gateway Fund ClassPairCorr
  0.66JHDCX Jpmorgan Hedged EquityPairCorr
  0.63JHDRX Jpmorgan Hedged EquityPairCorr
  0.66JHDAX Jpmorgan Hedged EquityPairCorr
  0.76VTSNX Vanguard Total InterPairCorr
  0.77VTISX Vanguard Total InterPairCorr
  0.77VTPSX Vanguard Total InterPairCorr
  0.78RYTFX Royce Total ReturnPairCorr
  0.69FAETX American Funds 2030PairCorr
  0.84RRTRX T Rowe PricePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Meridian Mutual Fund performing well and Meridian Equity 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 Meridian Equity'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MRAEX  0.84  0.11  0.04  1.05  1.34 
(1.02)
 1.28 
(1.45)
 21.50 
MRAGX  0.98  0.18  0.13  0.58  0.82 
(1.20)
 1.75 
(1.79)
 12.59 
MRCEX  0.60  0.11  0.05 (1.46) 0.57 
(0.71)
 1.27 
(1.00)
 6.70 
MRCGX  1.00  0.13  0.13  0.18  0.80 
(1.27)
 1.71 
(1.80)
 13.70 
MRIEX  0.58  0.06  0.05  0.16  0.58 
(0.67)
 1.25 
(0.99)
 6.07 
MRIGX  0.97  0.11  0.11  0.16  0.86 
(1.22)
 1.76 
(1.83)
 11.97 
MRRGX  0.97  0.11  0.11  0.16  0.85 
(1.21)
 1.75 
(1.82)
 11.71 
MSGAX  1.02  0.14  0.08  0.89  0.98 
(1.28)
 1.85 
(1.80)
 10.22 
MSGCX  1.04  0.09  0.08  0.14  0.98 
(1.36)
 1.80 
(1.94)
 11.36 
MSGGX  0.86 (0.05)(0.04) 0.01  1.09 
(0.94)
 1.76 
(1.80)
 5.52 

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