Value Fund Correlations

WVALX Fund

USD 41.50 1.13 2.65%

The current 90-days correlation between Value Fund Value and Invesco European Small is -0.01 (i.e., Good diversification). The correlation of Value 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.

Value Fund Correlation With Market

Very poor diversification

The correlation between Value Fund Value and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Fund Value and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Value Fund Value. 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 metropolitan statistical area.

Moving together with Value Mutual Fund

0.8	SAFEX	Weitz Ultra Short	Pair Corr
0.81	WSHNX	Short Duration Income	Pair Corr
0.98	WBALX	Balanced Fund Balanced	Pair Corr
0.98	WBAIX	Weitz Balanced	Pair Corr
0.64	WCPBX	Core Plus Income	Pair Corr
0.63	WCPNX	Core Plus Income	Pair Corr
0.97	WVAIX	Value Fund Value	Pair Corr
0.8	WEFIX	Short Duration Income	Pair Corr
0.78	WNTFX	Nebraska Tax Free	Pair Corr
0.98	WPOIX	Partners Iii Opportunity	Pair Corr
0.98	WPOPX	Partners Iii Opportunity	Pair Corr
0.99	WPVLX	Partners Value	Pair Corr
0.99	WPVIX	Partners Value	Pair Corr
0.71	VTSAX	Vanguard Total Stock	Pair Corr
0.7	VFIAX	Vanguard 500 Index	Pair Corr
0.73	VTSMX	Vanguard Total Stock	Pair Corr
0.73	VITSX	Vanguard Total Stock	Pair Corr
0.73	VSMPX	Vanguard Total Stock	Pair Corr
0.71	VSTSX	Vanguard Total Stock	Pair Corr
0.71	VFINX	Vanguard 500 Index	Pair Corr
0.68	VFFSX	Vanguard 500 Index	Pair Corr
0.7	VINIX	Vanguard Institutional	Pair Corr
0.7	VIIIX	Vanguard Institutional	Pair Corr
0.73	WRHIX	Ivy High Income	Pair Corr
0.75	WHIAX	Ivy High Income	Pair Corr
0.75	IHIFX	Ivy High Income	Pair Corr
0.74	IVHIX	Ivy High Income	Pair Corr
0.97	LBISX	Legg Mason Bw	Pair Corr
0.79	JOBYX	Jpmorgan Smartretirement*	Pair Corr
0.91	FEAMX	First Eagle Fund	Pair Corr
0.83	AACCX	Strategic Allocation	Pair Corr
0.7	VTRPX	Voya Target Retirement	Pair Corr
0.83	EGIIX	Eaton Vance Greater	Pair Corr
0.78	JHYAX	Janus High Yield	Pair Corr
0.66	DHSIX	Diamond Hill Small	Pair Corr
0.85	GGIJX	Goldman Sachs Global	Pair Corr
0.61	RDWCX	American Funds Developing	Pair Corr

Related Correlations Analysis

	FNGAX	FILRX	BEMIX	VLEOX	PFANX	PFINX	CIMDX	TVFVX	COVAX	ESMAX
FNGAX		0.91	0.76	0.7	0.83	0.78	0.63	0.71	0.68	0.93	FNGAX
FILRX	0.91		0.78	0.78	0.81	0.8	0.74	0.74	0.69	0.88	FILRX
BEMIX	0.76	0.78		0.85	0.95	0.96	0.7	0.9	0.76	0.9	BEMIX
VLEOX	0.7	0.78	0.85		0.87	0.91	0.9	0.93	0.89	0.82	VLEOX
PFANX	0.83	0.81	0.95	0.87		0.97	0.71	0.89	0.78	0.94	PFANX
PFINX	0.78	0.8	0.96	0.91	0.97		0.77	0.91	0.81	0.92	PFINX
CIMDX	0.63	0.74	0.7	0.9	0.71	0.77		0.87	0.88	0.74	CIMDX
TVFVX	0.71	0.74	0.9	0.93	0.89	0.91	0.87		0.94	0.86	TVFVX
COVAX	0.68	0.69	0.76	0.89	0.78	0.81	0.88	0.94		0.8	COVAX
ESMAX	0.93	0.88	0.9	0.82	0.94	0.92	0.74	0.86	0.8		ESMAX
	FNGAX	FILRX	BEMIX	VLEOX	PFANX	PFINX	CIMDX	TVFVX	COVAX	ESMAX

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Risk-Adjusted Indicators

There is a big difference between Value Mutual Fund performing well and Value 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 Value 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
FNGAX	0.74	(0.03)	0.00	(0.28)	0.00	0.00	1.37	(1.78)	3.80
FILRX	0.73	(0.07)	0.00	(0.04)	0.00	0.00	1.35	(1.81)	3.81
BEMIX	0.59	0.16	0.21	0.34	0.26	(0.71)	1.57	(1.05)	3.07
VLEOX	0.84	0.12	0.13	0.18	0.70	(0.97)	1.75	(1.37)	6.80
PFANX	0.10	0.01	(0.20)	0.57	0.00	(0.14)	0.21	(0.21)	0.82
PFINX	0.10	0.01	(0.19)	0.16	0.00	(0.15)	0.21	(0.21)	0.82
CIMDX	0.62	0.01	0.00	0.05	0.72	(0.76)	1.52	(1.23)	4.43
TVFVX	0.75	0.28	0.27	0.35	0.53	(0.87)	1.56	(1.27)	7.61
COVAX	0.99	0.30	0.27	3.34	0.55	(1.31)	2.36	(1.41)	14.33
ESMAX	0.72	0.05	0.01	0.60	0.96	(0.73)	1.28	(1.75)	4.28

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Value Fund Correlations

Value Fund Correlation With Market

Very poor diversification

Moving together with Value Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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