Victory Market Correlations

CBHMX Fund

USD 8.46 0.07 0.83%

The current 90-days correlation between Victory Market Neutral and Income Fund Income is -0.03 (i.e., Good diversification). The correlation of Victory Market 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.

Victory Market Correlation With Market

Good diversification

The correlation between Victory Market Neutral and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Market Neutral 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 Victory Market Neutral. 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 population.

Moving against Victory Mutual Fund

0.52	MMIJX	Victory Integrity Mid	Pair Corr
0.38	SSVSX	Victory Special Value	Pair Corr
0.35	SRVEX	Victory Diversified Stock	Pair Corr
0.33	SBALX	Victory Strategic	Pair Corr
0.33	MNNAX	Victory Munder Multi	Pair Corr
0.5	RSVAX	Victory Rs Value	Pair Corr
0.5	RCEYX	Victory Rs Large	Pair Corr
0.49	RSVYX	Victory Rs Value	Pair Corr
0.32	VSCVX	Victory Integrity Small	Pair Corr
0.31	RSINX	Victory Rs Investors	Pair Corr

Related Correlations Analysis

	UINCX	UINQX	SRVEX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBALX	SSVSX
UINCX		-0.43	-0.49	0.94	0.99	0.63	0.6	-0.38	0.23	-0.48	UINCX
UINQX	-0.43		0.81	-0.56	-0.52	0.11	0.19	0.77	0.52	0.77	UINQX
SRVEX	-0.49	0.81		-0.58	-0.57	0.08	0.14	0.9	0.56	1.0	SRVEX
UITBX	0.94	-0.56	-0.58		0.96	0.52	0.55	-0.44	0.15	-0.55	UITBX
UITCX	0.99	-0.52	-0.57	0.96		0.59	0.54	-0.46	0.15	-0.55	UITCX
UITIX	0.63	0.11	0.08	0.52	0.59		0.87	0.17	0.57	0.08	UITIX
GUTEX	0.6	0.19	0.14	0.55	0.54	0.87		0.33	0.58	0.14	GUTEX
SSGSX	-0.38	0.77	0.9	-0.44	-0.46	0.17	0.33		0.53	0.89	SSGSX
SBALX	0.23	0.52	0.56	0.15	0.15	0.57	0.58	0.53		0.55	SBALX
SSVSX	-0.48	0.77	1.0	-0.55	-0.55	0.08	0.14	0.89	0.55		SSVSX
	UINCX	UINQX	SRVEX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBALX	SSVSX

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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

SSVSX	+ 1.0	SRVEX
UITCX	+ 0.99	UINCX
UITCX	+ 0.96	UITBX
UITBX	+ 0.94	UINCX
SSGSX	+ 0.9	SRVEX
SSVSX	+ 0.89	SSGSX

High negative correlations

UITBX	- 0.58	SRVEX
UITCX	- 0.57	SRVEX
UITBX	- 0.56	UINQX
SSVSX	- 0.55	UITCX
SSVSX	- 0.55	UITBX
UITCX	- 0.52	UINQX

Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory Market 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 Victory Market'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
UINCX	0.21	(0.04)	0.00	(0.45)	0.00	0.00	0.43	(0.60)	1.22
UINQX	0.67	0.16	0.08	8.19	0.71	(0.72)	1.57	(1.43)	5.14
SRVEX	0.69	(0.08)	0.00	(0.01)	0.00	0.00	1.18	(1.05)	5.12
UITBX	0.22	(0.05)	0.00	1.54	0.00	0.00	0.43	(0.55)	1.21
UITCX	0.21	(0.05)	0.00	(1.05)	0.00	0.00	0.33	(0.55)	1.21
UITIX	0.13	(0.02)	0.00	(0.18)	0.00	0.00	0.32	(0.40)	1.19
GUTEX	0.22	(0.01)	0.00	0.19	0.00	0.00	0.58	(0.70)	1.90
SSGSX	0.86	(0.09)	(0.04)	0.01	1.49	(0.97)	1.65	(1.32)	7.39
SBALX	0.32	(0.01)	(0.15)	0.04	0.30	(0.39)	0.75	(0.59)	2.07
SSVSX	0.71	(0.11)	0.00	(0.04)	0.00	0.00	1.17	(1.03)	5.12

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