Nicholas Fund Correlations

NICSX Fund

USD 101.38 0.46 0.46%

The current 90-days correlation between Nicholas Fund and Growth Fund Of is 0.92 (i.e., Almost no diversification). The correlation of Nicholas Fund 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.

Nicholas Fund Correlation With Market

Very poor diversification

The correlation between Nicholas Fund Inc and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Fund Inc 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 Nicholas Fund Inc. 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 state.

Moving together with Nicholas Mutual Fund

0.76	NSEIX	Nicholas Equity Income	Pair Corr
0.96	NCLEX	Nicholas Edition	Pair Corr
0.97	NCTWX	Nicholas Ii	Pair Corr
0.96	NNLEX	Nicholas Edition	Pair Corr
0.97	NNTWX	Nicholas Ii	Pair Corr
0.91	FAFGX	American Funds	Pair Corr
0.91	FFAFX	American Funds	Pair Corr
0.95	GFACX	Growth Fund	Pair Corr
0.95	GFAFX	Growth Fund	Pair Corr
0.95	AGTHX	Growth Fund	Pair Corr
0.95	CGFFX	Growth Fund	Pair Corr
0.95	CGFCX	Growth Fund	Pair Corr
0.95	CGFAX	Growth Fund	Pair Corr
0.95	CGFEX	Growth Fund	Pair Corr
0.95	RGAEX	Growth Fund	Pair Corr
0.91	ASG	Liberty All Star	Pair Corr
0.91	CII	Blackrock Enhanced	Pair Corr
0.92	ETV	Eaton Vance Tax	Pair Corr
0.92	CLM	Cornerstone Strategic	Pair Corr
0.92	CRF	Cornerstone Strategic	Pair Corr
0.95	USA	Liberty All Star	Pair Corr
0.91	ETY	Eaton Vance Tax	Pair Corr
0.77	NFJ	Virtus Dividend Interest	Pair Corr
0.83	FFRHX	Fidelity Advisor Floating	Pair Corr
0.84	NUSAX	Nationwide Government	Pair Corr
0.98	PRWAX	T Rowe Price	Pair Corr
0.92	FLCNX	Fidelity Contrafund	Pair Corr
0.77	AMFFX	American Mutual	Pair Corr
0.87	FCNTX	Fidelity Contrafund	Pair Corr
0.89	RFEBX	American Funds Funda	Pair Corr
0.95	BPIRX	Boston Partners Longshort	Pair Corr
0.97	VLISX	Vanguard Large Cap	Pair Corr
0.91	VFIAX	Vanguard 500 Index	Pair Corr
0.89	TWQZX	Transamerica Large Cap	Pair Corr
0.93	ABVCX	Ab Value Fund	Pair Corr

Moving against Nicholas Mutual Fund

0.38

IFN

India Closed

Pair Corr

Related Correlations Analysis

	GFAFX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX
GFAFX		-0.73	0.0	-0.23	0.73	0.67	0.02	-0.49	0.5	0.93	GFAFX
444859BR2	-0.73		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	-0.69	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.23	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	-0.32	BRRAY
MSTSX	0.73	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	0.75	MSTSX
LBHIX	0.67	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	0.68	LBHIX
ABHYX	0.02	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	0.07	ABHYX
SCAXF	-0.49	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	-0.43	SCAXF
VIASP	0.5	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		0.41	VIASP
AAEVX	0.93	-0.69	0.0	-0.32	0.75	0.68	0.07	-0.43	0.41		AAEVX
	GFAFX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

AAEVX	+ 0.93	GFAFX
AAEVX	+ 0.75	MSTSX
MSTSX	+ 0.73	GFAFX
AAEVX	+ 0.68	LBHIX
LBHIX	+ 0.67	GFAFX
LBHIX	+ 0.67	MSTSX

High negative correlations

VIASP	- 0.8	SCAXF
444859BR2	- 0.73	GFAFX
AAEVX	- 0.69	444859BR2
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
SCAXF	- 0.49	GFAFX

Risk-Adjusted Indicators

There is a big difference between Nicholas Mutual Fund performing well and Nicholas Fund 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 Nicholas Fund'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
GFAFX	0.65	0.02	0.01	0.14	0.86	(0.66)	1.34	(1.64)	4.42
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
AAEVX	0.48	0.05	(0.10)	(2.13)	0.54	(0.57)	0.93	(0.77)	2.76

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC