Applied Finance Correlations

AFVZX Fund  USD 23.16  0.11  0.48%   
The current 90-days correlation between Applied Finance Select and Calamos Dynamic Convertible is 0.22 (i.e., Modest 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 Select and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Finance Select 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 Select. 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

  0.99AFALX Applied Finance CorePairCorr
  0.99AFAZX Applied Finance CorePairCorr
  0.96AFDZX Applied Finance ExplorerPairCorr
  0.88AFVLX Applied Finance SelectPairCorr
  0.86MXHPX Great West ModeratelyPairCorr
  0.87VAFNX Invesco American FraPairCorr
  0.9USBAX Usaa Ultra ShortPairCorr
  0.81QICNX Aqr International MultiPairCorr
  0.74AECSX Emerging Markets SmallPairCorr
  0.67ARYMX Global Real EstatePairCorr
  0.85UIVPX Mfs Intrinsic ValuePairCorr
  0.87CSXAX Calvert Large CapPairCorr
  0.98ISGAX Voya Solution BalancedPairCorr
  0.84BISVX Brown Advisory FundsPairCorr
  0.86RRSUX T Rowe PricePairCorr
  0.86NSGRX Northern Small CapPairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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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.