Angel Oak Correlations

XFINX Fund

USD 14.04 0.06 0.43%

The current 90-days correlation between Angel Oak Financial and Commonwealth Global Fund is 0.21 (i.e., Modest diversification). The correlation of Angel Oak 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.

Angel Oak Correlation With Market

Average diversification

The correlation between Angel Oak Financial and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Angel Oak Financial 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 Angel Oak Financial. 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 Angel Mutual Fund

0.69	VTSAX	Vanguard Total Stock	Pair Corr
0.7	VFIAX	Vanguard 500 Index	Pair Corr
0.69	VTSMX	Vanguard Total Stock	Pair Corr
0.69	VITSX	Vanguard Total Stock	Pair Corr
0.69	VSTSX	Vanguard Total Stock	Pair Corr
0.69	VSMPX	Vanguard Total Stock	Pair Corr
0.7	VFINX	Vanguard 500 Index	Pair Corr
0.7	VFFSX	Vanguard 500 Index	Pair Corr
0.67	SPGSX	State Street Premier	Pair Corr
0.87	SECPX	Sdit Ultra Short	Pair Corr
0.66	FOCPX	Fidelity Otc Portfolio	Pair Corr
0.72	AMRMX	American Mutual	Pair Corr
0.61	SSIAX	1919 Socially Responsive	Pair Corr
0.69	JABRX	Janus Balanced	Pair Corr
0.74	STARX	Astor Star Fund	Pair Corr
0.64	FBMTX	American Funds 2065	Pair Corr
0.7	AHYDX	High Yield Fund	Pair Corr
0.66	VLCGX	Large Capital Growth	Pair Corr
0.67	RFNBX	American Funds Funda	Pair Corr
0.68	FINFX	American Funds Funda	Pair Corr
0.64	AAMCX	Absolute Capital Asset	Pair Corr
0.62	ANOIX	Small Cap Growth	Pair Corr
0.66	FIFRX	Franklin Growth	Pair Corr
0.66	CGAAX	Columbia Growth 529	Pair Corr
0.72	AMRFX	American Mutual	Pair Corr

Moving against Angel Mutual Fund

0.8

Korea Closed

Pair Corr

Related Correlations Analysis

	CNGLX	USLUX	VGCAX	DODWX	CABIX	NGJCX
CNGLX		0.46	0.04	0.64	0.5	0.15	CNGLX
USLUX	0.46		-0.32	0.73	0.37	-0.36	USLUX
VGCAX	0.04	-0.32		0.2	0.7	0.91	VGCAX
DODWX	0.64	0.73	0.2		0.72	0.22	DODWX
CABIX	0.5	0.37	0.7	0.72		0.65	CABIX
NGJCX	0.15	-0.36	0.91	0.22	0.65		NGJCX
	CNGLX	USLUX	VGCAX	DODWX	CABIX	NGJCX

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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

NGJCX	+ 0.91	VGCAX
DODWX	+ 0.73	USLUX
CABIX	+ 0.72	DODWX
CABIX	+ 0.7	VGCAX
NGJCX	+ 0.65	CABIX
DODWX	+ 0.64	CNGLX

High negative correlations

NGJCX	- 0.36	USLUX
VGCAX	- 0.32	USLUX

Risk-Adjusted Indicators

There is a big difference between Angel Mutual Fund performing well and Angel Oak 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 Angel Oak'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
CNGLX	0.54	(0.09)	(0.14)	0.01	0.78	(0.52)	1.28	(1.18)	3.95
USLUX	0.78	(0.04)	(0.06)	0.07	0.86	(0.86)	2.09	(1.59)	5.91
VGCAX	0.17	0.00	(0.54)	0.45	0.20	(0.21)	0.37	(0.36)	0.98
DODWX	0.53	(0.08)	(0.16)	0.01	0.66	(0.57)	1.08	(1.09)	3.17
CABIX	0.32	(0.02)	(0.25)	0.05	0.35	(0.38)	0.69	(0.72)	2.27
NGJCX	0.56	(0.04)	(0.17)	(0.04)	0.74	(0.56)	1.16	(1.19)	3.67

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