Value Fund Correlations

WVALX Fund

USD 43.38 0.69 1.62%

The current 90-days correlation between Value Fund Value and Franklin International Growth is 0.03 (i.e., Significant 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

Modest diversification

The correlation between Value Fund Value and DJI is 0.23 (i.e., Modest 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 board of governors.

Moving together with Value Mutual Fund

0.63	SAFEX	Weitz Ultra Short	Pair Corr
0.68	WSHNX	Short Duration Income	Pair Corr
0.85	WBALX	Balanced Fund Balanced	Pair Corr
0.98	WBAIX	Weitz Balanced	Pair Corr
1.0	WVAIX	Value Fund Value	Pair Corr
0.68	WEFIX	Short Duration Income	Pair Corr
0.62	WNTFX	Nebraska Tax Free	Pair Corr
0.96	WPOIX	Partners Iii Opportunity	Pair Corr
0.95	WPOPX	Partners Iii Opportunity	Pair Corr
0.98	WPVLX	Partners Value	Pair Corr
0.98	WPVIX	Partners Value	Pair Corr
0.75	TTEEX	T Rowe Price	Pair Corr
0.69	TREMX	T Rowe Price	Pair Corr
0.69	CEE	Central Europe Russia	Pair Corr
0.77	COFYX	Columbia Trarian Core	Pair Corr
0.88	GGSAX	Goldman Sachs Growth	Pair Corr
0.87	DHTYX	Diamond Hill All	Pair Corr
0.8	FMEUX	Franklin Mutual European	Pair Corr
0.86	VESIX	Vanguard European Stock	Pair Corr

Moving against Value Mutual Fund

0.39

ONERX

One Rock Fund

Pair Corr

Related Correlations Analysis

	FNGAX	FILRX	BEMIX	VLEOX	PFANX	PFINX	CIMDX	TVFVX	COVAX	ESMAX
FNGAX		1.0	-0.24	0.02	-0.13	-0.19	0.15	-0.16	0.06	0.74	FNGAX
FILRX	1.0		-0.22	0.03	-0.12	-0.18	0.17	-0.15	0.07	0.75	FILRX
BEMIX	-0.24	-0.22		0.69	0.76	0.58	0.57	0.76	0.54	0.33	BEMIX
VLEOX	0.02	0.03	0.69		0.63	0.32	0.83	0.82	0.83	0.5	VLEOX
PFANX	-0.13	-0.12	0.76	0.63		0.81	0.56	0.51	0.47	0.38	PFANX
PFINX	-0.19	-0.18	0.58	0.32	0.81		0.35	0.25	0.22	0.23	PFINX
CIMDX	0.15	0.17	0.57	0.83	0.56	0.35		0.79	0.85	0.6	CIMDX
TVFVX	-0.16	-0.15	0.76	0.82	0.51	0.25	0.79		0.88	0.38	TVFVX
COVAX	0.06	0.07	0.54	0.83	0.47	0.22	0.85	0.88		0.53	COVAX
ESMAX	0.74	0.75	0.33	0.5	0.38	0.23	0.6	0.38	0.53		ESMAX
	FNGAX	FILRX	BEMIX	VLEOX	PFANX	PFINX	CIMDX	TVFVX	COVAX	ESMAX

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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

FILRX	+ 1.0	FNGAX
COVAX	+ 0.88	TVFVX
COVAX	+ 0.85	CIMDX
CIMDX	+ 0.83	VLEOX
COVAX	+ 0.83	VLEOX
TVFVX	+ 0.82	VLEOX

High negative correlations

BEMIX	- 0.24	FNGAX
BEMIX	- 0.22	FILRX
PFINX	- 0.19	FNGAX
PFINX	- 0.18	FILRX
TVFVX	- 0.16	FNGAX
TVFVX	- 0.15	FILRX

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	0.70	(0.12)	0.00	(0.05)	0.00	0.00	1.28	(1.95)	3.66
FILRX	0.68	(0.12)	0.00	(0.05)	0.00	0.00	1.33	(1.92)	3.73
BEMIX	0.66	0.13	0.08	0.89	0.60	(0.81)	1.69	(1.16)	3.94
VLEOX	0.88	0.10	0.10	0.19	0.74	(1.07)	1.89	(1.39)	6.61
PFANX	0.12	0.02	(0.28)	0.38	0.00	(0.18)	0.21	(0.21)	1.80
PFINX	0.12	0.01	(0.19)	0.13	0.13	(0.19)	0.20	(0.20)	2.68
CIMDX	0.61	(0.02)	(0.05)	0.04	0.72	(0.77)	1.39	(1.23)	3.77
TVFVX	0.78	0.20	0.12	2.27	0.87	(0.86)	1.55	(1.28)	6.72
COVAX	1.00	0.16	0.16	0.21	0.80	(1.24)	2.19	(1.43)	13.81
ESMAX	0.76	(0.05)	(0.05)	0.02	0.99	(0.79)	1.49	(1.75)	4.22

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