Union Street Correlations

USPVX Fund  USD 31.19  0.24  0.78%   
The current 90-days correlation between Union Street Partners and Hennessy Bp Energy is 0.49 (i.e., Very weak diversification). The correlation of Union Street 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.

Union Street Correlation With Market

Very poor diversification

The correlation between Union Street Partners and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Union Street Partners and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Union Street Partners. 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 Union Mutual Fund

  1.0USPFX Union Street PartnersPairCorr
  1.0USPCX Union Street PartnersPairCorr
  0.84VVIAX Vanguard Value IndexPairCorr
  0.82DOXGX Dodge Cox StockPairCorr
  0.81AFMFX American MutualPairCorr
  0.81FFMMX American Funds AmericanPairCorr
  0.81FFFMX American Funds AmericanPairCorr
  0.81AMRMX American MutualPairCorr
  0.81AMFFX American MutualPairCorr
  0.81AMFCX American MutualPairCorr
  0.82DODGX Dodge Stock FundPairCorr
  0.84VIVAX Vanguard Value IndexPairCorr
  0.78SMPIX Semiconductor UltrasectorPairCorr
  0.78SMPSX Semiconductor UltrasectorPairCorr
  0.66LSHUX Horizon Spin Off Downward RallyPairCorr
  0.66LSHEX Kinetics Spin Off Downward RallyPairCorr
  0.77RSNYX Victory Global NaturalPairCorr
  0.77RSNRX Victory Global NaturalPairCorr
  0.77RGNCX Victory Global NaturalPairCorr
  0.65WWNPX Kinetics Paradigm Downward RallyPairCorr
  0.85RMQAX Monthly RebalancePairCorr
  0.85RMQHX Monthly RebalancePairCorr
  0.82OAKBX Oakmark Equity AndPairCorr
  0.86FBMTX American Funds 2065PairCorr
  0.68BUFHX Buffalo High YieldPairCorr
  0.85NOIEX Northern Income EquityPairCorr
  0.77AVEMX Ave Maria ValuePairCorr
  0.69FSCSX Software And ItPairCorr
  0.84FIFRX Franklin GrowthPairCorr
  0.81RNGEX New Economy FundPairCorr
  0.85ANOIX Small Cap GrowthPairCorr
  0.8MUTHX Franklin Mutual SharesPairCorr
  0.8AMECX Income FundPairCorr
  0.72GAB Gabelli Equity TrustPairCorr
  0.81FSPGX Fidelity Large CapPairCorr
  0.82AIWEX World EnergyPairCorr
  0.83AAMCX Absolute Capital AssetPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
FRNRXFNCRX
ENPSXHNRGX
PNRCXFNCRX
FRNRXPNRCX
FRNRXHNRGX
FNCRXHNRGX
  
High negative correlations   
ALTEXALEFX
GMOWXALEFX
ALTEXENPSX
ALTEXHNRGX

Risk-Adjusted Indicators

There is a big difference between Union Mutual Fund performing well and Union Street 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 Union Street'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.