Cavanal Hill Correlations

APLIX Fund

USD 13.52 0.04 0.30%

The current 90-days correlation between Cavanal Hill Hedged and Tiaa Cref Real Estate is 0.5 (i.e., Very weak diversification). The correlation of Cavanal Hill 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.

Cavanal Hill Correlation With Market

Very poor diversification

The correlation between Cavanal Hill Hedged and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cavanal Hill Hedged 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 Cavanal Hill Hedged. 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 gross domestic product.

Moving together with Cavanal Mutual Fund

0.65	APBDX	Bond Fund Investor	Pair Corr
0.71	APENX	Strategic Enhanced Yield	Pair Corr
0.7	APSTX	Limited Duration	Pair Corr
0.69	APUSX	Cavanal Hill Ultra	Pair Corr
0.74	APWEX	World Energy	Pair Corr
0.7	AABOX	Bond Fund Class	Pair Corr
0.69	AAENX	Strategic Enhanced Yield	Pair Corr
0.91	AALIX	Astonherndon Large Cap	Pair Corr
0.75	AASTX	Limited Duration	Pair Corr
0.71	AAUSX	Cavanal Hill Ultra	Pair Corr
0.64	AAWEX	World Energy	Pair Corr
0.63	ACWEX	World Energy	Pair Corr
0.66	AIBNX	Bond Fund Institutional	Pair Corr
0.76	AIENX	Strategic Enhanced Yield	Pair Corr
1.0	AILIX	Cavanal Hill Hedged	Pair Corr
0.74	AISTX	Limited Duration	Pair Corr
0.69	AIUSX	Cavanal Hillultra Short	Pair Corr
0.64	AIWEX	World Energy	Pair Corr
0.95	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.96	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.76	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.98	GTENX	Gateway Fund Class	Pair Corr
0.87	GTECX	Gateway Fund Class	Pair Corr
0.98	GTEYX	Gateway Fund Class	Pair Corr
0.88	GATEX	Gateway Fund Class	Pair Corr
0.93	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.85	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.75	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.67	SRHDX	Columbia High Yield	Pair Corr
0.84	JLCWX	Fundamental Large Cap	Pair Corr
0.82	SWHGX	Schwab Markettrack Growth	Pair Corr
0.82	MNDKX	Mfs New Discovery	Pair Corr

Related Correlations Analysis

	TIREX	NMMRF	FIKMX	VRREX	RRRZX	PHRIX
TIREX		0.0	0.91	0.7	0.7	0.7	TIREX
NMMRF	0.0		0.0	0.0	0.0	0.0	NMMRF
FIKMX	0.91	0.0		0.71	0.69	0.71	FIKMX
VRREX	0.7	0.0	0.71		0.97	1.0	VRREX
RRRZX	0.7	0.0	0.69	0.97		0.97	RRRZX
PHRIX	0.7	0.0	0.71	1.0	0.97		PHRIX
	TIREX	NMMRF	FIKMX	VRREX	RRRZX	PHRIX

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

PHRIX	+ 1.0	VRREX
RRRZX	+ 0.97	VRREX
PHRIX	+ 0.97	RRRZX
FIKMX	+ 0.91	TIREX
VRREX	+ 0.71	FIKMX
PHRIX	+ 0.71	FIKMX

High negative correlations

PHRIX	- 0.0	NMMRF
RRRZX	- 0.0	NMMRF
VRREX	- 0.0	NMMRF
FIKMX	- 0.0	NMMRF
NMMRF	- 0.0	TIREX

Risk-Adjusted Indicators

There is a big difference between Cavanal Mutual Fund performing well and Cavanal Hill 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 Cavanal Hill'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
TIREX	0.55	(0.02)	(0.07)	0.02	0.74	(0.56)	1.12	(1.32)	3.98
NMMRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIKMX	0.16	0.00	(0.23)	0.05	0.15	(0.22)	0.41	(0.33)	1.23
VRREX	0.59	0.00	(0.07)	0.07	0.80	(0.61)	1.34	(1.29)	3.92
RRRZX	0.56	0.00	(0.08)	0.05	0.72	(0.62)	1.23	(1.15)	3.67
PHRIX	0.58	0.00	(0.07)	0.06	0.77	(0.64)	1.29	(1.30)	3.84

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