Applied Finance Correlations

Mutual Funds . USA . 
Fund . Applied Finance Explorer
AFDZX Fund  USD 22.31  0.20  0.90%   
The current 90-days correlation between Applied Finance Explorer and Applied Finance Core is -0.24 (i.e., Very good diversification). The correlation of Applied Finance 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.

Applied Finance Correlation With Market

Good diversification

The correlation between Applied Finance Explorer and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Finance Explorer and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Applied Finance Explorer. 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 nation.

Moving together with Applied Mutual Fund

  0.97AFDVX Applied Finance ExplorerPairCorr
  0.97VSIIX Vanguard Small CapPairCorr
  0.97VISVX Vanguard Small CapPairCorr
  0.96DFSVX Us Small CapPairCorr
  0.97DFFVX Us Targeted ValuePairCorr
  0.95UBVCX Undiscovered ManagersPairCorr
  0.95UBVAX Undiscovered ManagersPairCorr
  0.95UBVSX Undiscovered ManagersPairCorr
  0.96AVFIX American Beacon SmallPairCorr
  0.95TILCX T Rowe PricePairCorr
  0.89ADNIX Amer Beacon Ark Steady GrowthPairCorr
  0.87IORLX Aim Taxexempt FundsPairCorr
  0.95FAHYX Fidelity Advisor HighPairCorr
  0.88PNRZX Pgim Jennison NaturalPairCorr
  0.95QGRPX Ubs Quality GrowthPairCorr
  0.96GGNPX Goldman Sachs HighPairCorr
  0.94NBPIX Neuberger Berman LargePairCorr
  0.94TRROX T Rowe PricePairCorr
  0.97JECIX John Hancock VarPairCorr
  0.95DHLTX Diamond Hill AllPairCorr
  0.95TEMVX Tiaa Cref EmergingPairCorr
  0.93NPSFX Nuveen Preferred SecPairCorr
  0.96PGBEX Blue Chip FundPairCorr
  0.94RYCVX Dow 2x StrategyPairCorr
  0.95BLARX Lord Abbett BalancedPairCorr
  0.87GPPSX Goldman Sachs ShortPairCorr
  0.95OPTIX Oppenheimer CapitalPairCorr
  0.88BUBSX Baird Ultra ShortPairCorr
  0.95AACRX Strategic AllocationPairCorr
  0.95STPAX Technology MunicationsPairCorr
  0.68PGCAX Investment Grade PoratePairCorr
  0.97STRBX Sterling Capital BehPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Applied Mutual Fund performing well and Applied Finance 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 Applied Finance'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.

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