Muirfield Fund Correlations

FLMIX Fund  USD 10.92  0.03  0.28%   
The current 90-days correlation between Muirfield Fund Insti and Investec Emerging Markets is -0.02 (i.e., Good diversification). The correlation of Muirfield Fund 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.

Muirfield Fund Correlation With Market

Very poor diversification

The correlation between Muirfield Fund Institutional and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Muirfield Fund Institutional and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Muirfield Fund Institutional. 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 Muirfield Mutual Fund

  0.91SRUAX Spectrum Fund AdviserPairCorr
  0.99SRUIX Spectrum Fund InstitPairCorr
  0.9QNTAX Quantex Fund AdviserPairCorr
  0.9QNTIX Quantex Fund InstituPairCorr
  0.98BLNIX Balanced Fund InstitPairCorr
  0.98BLNAX Balanced Fund AdviserPairCorr
  0.66FLBDX Total Return BondPairCorr
  0.97FLCGX Quantex Fund RetailPairCorr
  0.87FLDOX Dividend OpportunitiesPairCorr
  0.98FLDGX Dynamic GrowthPairCorr
  0.86FLDFX Balanced Fund RetailPairCorr
  0.71FLFGX Global OpportunitiesPairCorr
  0.9FLMFX Muirfield Fund RetailPairCorr
  1.0FLMAX Muirfield Fund AdviserPairCorr
  1.0FLSPX Spectrum Fund RetailPairCorr
  0.86DVOIX Dividend OpportunitiesPairCorr
  0.86DVOAX Dividend OpportunitiesPairCorr
  0.69BNDAX Total Return BondPairCorr
  0.68BNDIX Total Return BondPairCorr
  0.74GBPAX Global OpportunitiesPairCorr
  0.74GBPIX Global OpportunitiesPairCorr
  0.98DYGIX Dynamic GrowthPairCorr
  0.98DYGAX Dynamic GrowthPairCorr
  0.82SMPIX Semiconductor UltrasectorPairCorr
  0.81LSHAX Horizon Spin OffPairCorr
  0.76OSPPX Oppenheimer Steelpath Mlp Steady GrowthPairCorr

Moving against Muirfield Mutual Fund

  0.36PAUPX Pimco All AssetPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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