Meridian Growth Correlations

MRIGX Fund

USD 37.93 0.14 0.37%

The current 90-days correlation between Meridian Growth and Putnam Equity Income is 0.86 (i.e., Very poor diversification). The correlation of Meridian Growth 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 Growth Correlation With Market

Very poor diversification

The correlation between Meridian Growth Fund and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meridian Growth 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 Meridian Growth 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 price.

Moving together with Meridian Mutual Fund

0.67	MRAEX	Meridian Equity Income	Pair Corr
1.0	MRAGX	Meridian Growth	Pair Corr
0.67	MRCEX	Meridian Equity Income	Pair Corr
1.0	MRCGX	Meridian Growth	Pair Corr
0.67	MRIEX	Meridian Equity Income	Pair Corr
1.0	MRRGX	Meridian Growth	Pair Corr
0.97	MSGAX	Meridian Small Cap	Pair Corr
0.97	MSGCX	Meridian Small Cap	Pair Corr
0.97	MSGGX	Meridian Small Cap	Pair Corr
0.97	MSGRX	Meridian Small Cap	Pair Corr
0.9	MVALX	Meridian Contrarian	Pair Corr
0.67	MEIFX	Meridian Equity Income	Pair Corr
1.0	MERDX	Meridian Growth	Pair Corr
0.9	MFCAX	Meridian Contrarian	Pair Corr
0.9	MFCCX	Meridian Contrarian	Pair Corr
0.9	MFCIX	Meridian Contrarian	Pair Corr
0.97	MISGX	Meridian Small Cap	Pair Corr
0.89	VSGAX	Vanguard Small Cap	Pair Corr
0.89	VSGIX	Vanguard Small Cap	Pair Corr
0.89	VISGX	Vanguard Small Cap	Pair Corr
0.94	VEXPX	Vanguard Explorer	Pair Corr
0.93	VEXRX	Vanguard Explorer	Pair Corr
0.89	JGMIX	Janus Triton	Pair Corr
0.89	JGMRX	Janus Triton	Pair Corr
0.89	JGMAX	Janus Triton	Pair Corr
0.89	JGMCX	Janus Triton	Pair Corr
0.89	JGMNX	Janus Triton	Pair Corr
0.78	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.78	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.78	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.78	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.78	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.8	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.8	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.78	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.8	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.78	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.78	VLISX	Vanguard Large Cap	Pair Corr

Related Correlations Analysis

	PEYAX	POGAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP
PEYAX		0.93	-0.66	0.0	-0.16	0.69	0.65	0.01	-0.54	0.54	PEYAX
POGAX	0.93		-0.73	0.0	-0.2	0.7	0.64	-0.01	-0.46	0.49	POGAX
444859BR2	-0.66	-0.73		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.16	-0.2	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	BRRAY
MSTSX	0.69	0.7	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	MSTSX
LBHIX	0.65	0.64	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	LBHIX
ABHYX	0.01	-0.01	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	ABHYX
SCAXF	-0.54	-0.46	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	SCAXF
VIASP	0.54	0.49	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		VIASP
	PEYAX	POGAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP

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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

POGAX	+ 0.93	PEYAX
MSTSX	+ 0.7	POGAX
MSTSX	+ 0.69	PEYAX
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.65	PEYAX
LBHIX	+ 0.64	POGAX

High negative correlations

VIASP	- 0.8	SCAXF
444859BR2	- 0.73	POGAX
444859BR2	- 0.66	PEYAX
LBHIX	- 0.54	444859BR2
SCAXF	- 0.54	PEYAX
MSTSX	- 0.53	444859BR2

Risk-Adjusted Indicators

There is a big difference between Meridian Mutual Fund performing well and Meridian Growth 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 Growth'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
PEYAX	0.49	(0.01)	(0.07)	0.10	0.40	(0.58)	0.95	(0.95)	3.16
POGAX	0.73	0.01	0.00	0.14	1.04	(0.71)	1.74	(2.25)	5.24
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18

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