Meridian Equity Correlations

Mutual Funds . USA . 
Fund . Meridian Equity Income
MRCEX Fund  USD 11.94  0.06  0.51%   
The current 90-days correlation between Meridian Equity Income and Meridian Small Cap is 0.82 (i.e., Very 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

Very poor diversification

The correlation between Meridian Equity Income and DJI is 0.87 (i.e., Very poor 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 discontinued.

Moving together with Meridian Mutual Fund

  0.97MRAEX Meridian Equity IncomePairCorr
  0.97MRAGX Meridian GrowthPairCorr
  0.97MRCGX Meridian GrowthPairCorr
  1.0MRIEX Meridian Equity IncomePairCorr
  0.96MRIGX Meridian GrowthPairCorr
  0.96MRRGX Meridian GrowthPairCorr
  0.96MSGAX Meridian Small CapPairCorr
  0.96MSGCX Meridian Small CapPairCorr
  0.95MSGRX Meridian Small CapPairCorr
  0.98MVALX Meridian ContrarianPairCorr
  1.0MEIFX Meridian Equity IncomePairCorr
  0.96MERDX Meridian GrowthPairCorr
  0.99MFCAX Meridian ContrarianPairCorr
  0.99MFCCX Meridian ContrarianPairCorr
  0.98MFCIX Meridian ContrarianPairCorr
  0.95MISGX Meridian Small CapPairCorr
  0.85JHQCX Jpmorgan Hedged EquityPairCorr
  0.86JHEQX Jpmorgan Hedged EquityPairCorr
  0.86JHQAX Jpmorgan Hedged EquityPairCorr
  0.81GTENX Gateway Fund ClassPairCorr
  0.79GTECX Gateway Fund ClassPairCorr
  0.82GTEYX Gateway Fund ClassPairCorr
  0.81GATEX Gateway Fund ClassPairCorr
  0.8JHDCX Jpmorgan Hedged EquityPairCorr
  0.82JHDRX Jpmorgan Hedged EquityPairCorr
  0.82JHDAX Jpmorgan Hedged EquityPairCorr
  0.93SMPIX Semiconductor UltrasectorPairCorr
  0.96SMPSX Semiconductor UltrasectorPairCorr
  0.85RSNYX Victory Global NaturalPairCorr
  0.86RSNRX Victory Global NaturalPairCorr
  0.85ISTNX Ivy Science AndPairCorr
  0.9IMIDX Congress Mid CapPairCorr

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
MRAGX  0.94  0.10  0.11  0.15  0.81 
(1.17)
 1.75 
(1.83)
 13.74 
MRCEX  0.50  0.10  0.14  0.26  0.17 
(0.66)
 1.19 
(0.82)
 7.20 
MRCGX  0.96  0.11  0.12  0.17  0.79 
(1.21)
 1.71 
(1.84)
 14.88 
MRIEX  0.48  0.09  0.13  0.25  0.21 
(0.64)
 1.25 
(0.74)
 6.60 
MRIGX  0.93  0.09  0.09  0.15  0.84 
(1.15)
 1.76 
(1.83)
 13.15 
MRRGX  0.93  0.09  0.09  0.15  0.84 
(1.15)
 1.75 
(1.83)
 12.90 
MSGAX  0.97  0.05  0.05  0.11  0.94 
(1.19)
 1.98 
(1.82)
 11.48 
MSGCX  0.99  0.07  0.06  0.13  0.96 
(1.23)
 2.03 
(1.94)
 12.67 
MSGGX  0.83 (0.08) 0.00 (0.02) 0.00 
 0.00 
 1.87 
(1.80)
 5.04 
MSGRX  0.96  0.04  0.04  0.10  0.97 
(1.13)
 1.90 
(1.92)
 10.76 

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