Madison Funds Correlations

MBORX Fund

USD 8.90 0.04 0.45%

The current 90-days correlation between Madison Funds and Madison Mid Cap is 0.33 (i.e., Weak diversification). The correlation of Madison Funds 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.

Madison Funds Correlation With Market

Good diversification

The correlation between Madison Funds and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Funds and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Madison Funds . 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 metropolitan statistical area.

Moving together with Madison Mutual Fund

0.61	MMDCX	Madison Moderate All	Pair Corr
0.61	MAACX	Madison Aggressive	Pair Corr
0.99	MBOIX	Madison Core Bond	Pair Corr
0.99	MBOYX	Madison E Bond	Pair Corr
0.89	MBOAX	Madison E Bond	Pair Corr
0.61	MCOCX	Madison Conservative	Pair Corr
0.65	MIIRX	Madison Funds	Pair Corr
0.7	MINAX	Madison International	Pair Corr
0.7	MINYX	Madison International	Pair Corr
0.87	VBTLX	Vanguard Total Bond	Pair Corr

Moving against Madison Mutual Fund

0.68	MENCX	Madison Ered Call	Pair Corr
0.44	BVAOX	Broadview Opportunity	Pair Corr
0.44	MSCIX	Madison Small Cap	Pair Corr
0.42	MNVAX	Madison Investors	Pair Corr
0.42	MNVRX	Madison Investors	Pair Corr
0.41	MMCRX	Madison Mid Cap	Pair Corr
0.41	MSCRX	Madison Small Cap	Pair Corr
0.41	MASMX	Madison Small Cap	Pair Corr
0.38	MDCIX	Madison Mid Cap	Pair Corr
0.31	MAGSX	Madison Aggressive	Pair Corr
0.53	GTVAX	Madison Tax Free	Pair Corr
0.42	MERAX	Madison Mid Cap	Pair Corr
0.42	MINVX	Madison Investors	Pair Corr
0.42	MIVIX	Madison Investors	Pair Corr
0.41	GTSGX	Madison Mid Cap	Pair Corr

Related Correlations Analysis

	MMCRX	MMDAX	MNVAX	MNVRX	BVAOX	MADAX	MADRX	MAGSX	BHBFX	MSCIX
MMCRX		0.87	0.93	0.93	0.98	0.84	0.86	0.89	0.86	0.98	MMCRX
MMDAX	0.87		0.96	0.96	0.88	0.95	0.85	1.0	0.85	0.88	MMDAX
MNVAX	0.93	0.96		1.0	0.94	0.94	0.84	0.97	0.84	0.94	MNVAX
MNVRX	0.93	0.96	1.0		0.94	0.94	0.84	0.97	0.84	0.94	MNVRX
BVAOX	0.98	0.88	0.94	0.94		0.86	0.88	0.89	0.88	1.0	BVAOX
MADAX	0.84	0.95	0.94	0.94	0.86		0.92	0.95	0.92	0.86	MADAX
MADRX	0.86	0.85	0.84	0.84	0.88	0.92		0.84	1.0	0.88	MADRX
MAGSX	0.89	1.0	0.97	0.97	0.89	0.95	0.84		0.84	0.9	MAGSX
BHBFX	0.86	0.85	0.84	0.84	0.88	0.92	1.0	0.84		0.88	BHBFX
MSCIX	0.98	0.88	0.94	0.94	1.0	0.86	0.88	0.9	0.88		MSCIX
	MMCRX	MMDAX	MNVAX	MNVRX	BVAOX	MADAX	MADRX	MAGSX	BHBFX	MSCIX

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Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Funds 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 Madison Funds' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
MMCRX	1.14	(0.13)	1.49	2.43	(2.14)	10.81
MMDAX	0.65	0.04	(0.04)	1.13	(1.25)	6.72
MNVAX	1.09	0.03	(0.08)	1.85	(2.10)	11.87
MNVRX	1.09	0.03	(0.08)	1.87	(2.12)	11.85
BVAOX	1.28	(0.24)	1.68	2.26	(2.94)	13.67
MADAX	0.93	0.03	(0.08)	1.37	(1.91)	8.67
MADRX	0.91	(0.10)	0.63	1.30	(1.91)	8.66
MAGSX	0.88	0.06	(0.04)	1.41	(1.65)	9.31
BHBFX	0.91	(0.10)	0.64	1.30	(1.87)	8.66
MSCIX	1.28	(0.24)	1.77	2.34	(3.02)	13.54

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