Applied Finance Correlations

Mutual Funds . USA . 
Fund . Applied Finance Explorer
AFDZX Fund  USD 24.05  0.25  1.05%   
The current 90-days correlation between Applied Finance Explorer and Applied Finance Core is 0.85 (i.e., Very poor 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 -0.03 (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

  0.82AFALX Applied Finance CorePairCorr
  0.82AFAZX Applied Finance CorePairCorr
  1.0AFDVX Applied Finance ExplorerPairCorr
  0.91AFVLX Applied Finance SelectPairCorr
  0.93VSIIX Vanguard Small CapPairCorr
  0.93VISVX Vanguard Small CapPairCorr
  0.94DFSVX Us Small CapPairCorr
  0.94DFFVX Us Targeted ValuePairCorr
  0.81UBVCX Undiscovered ManagersPairCorr
  0.88UBVAX Undiscovered ManagersPairCorr
  0.82UBVSX Undiscovered ManagersPairCorr
  0.95AVFIX American Beacon SmallPairCorr
  0.79MGHRX Morgan Stanley InstiPairCorr
  0.81MBIRX Morgan Stanley InsightPairCorr
  0.79MGRPX Growth Portfolio ClassPairCorr
  0.81MCRTX Morgan Stanley MultiPairCorr
  0.82ONERX One Rock FundPairCorr
  0.79MSGUX Growth Portfolio ClassPairCorr
  0.81MSCMX Morgan Stanley MultiPairCorr
  0.86MCYIX Mainstay CandriamPairCorr
  0.8WELIX William Blair EmergingPairCorr
  0.66DMUSX Delaware Tax FreePairCorr
  0.88FEDDX Fidelity Emerging MarketsPairCorr
  0.92QGRYX Oppenheimer Gbl AllocPairCorr
  0.8AFJAX Allianzgi Nfj InternPairCorr
  0.96APSRX Fiera Capital SmallmidPairCorr
  0.87SMIFX Sound Mind InvestingPairCorr
  0.76FMNZX Franklin Minnesota TaxPairCorr
  0.87DESIX Emerging Markets SusPairCorr
  0.91RWDIX Redwood Managed VolaPairCorr
  0.88MSAAX Active InternationalPairCorr
  0.93RWDYX Redwood Managed VolaPairCorr
  0.89FSMDX Fidelity Mid CapPairCorr
  0.81IPSHX Pinnacle Sherman MultiPairCorr
  0.73RISAX Rainier InternationalPairCorr
  0.88BGEIX Global Gold FundPairCorr
  0.91ASHIX Allianzgi Short DurationPairCorr
  0.9AGDAX Ab High IncomePairCorr
  0.86MCYSX Mainstay CandriamPairCorr

Related Correlations Analysis


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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