Madison Mid Correlations

Mutual Funds . USA . 
Fund . Madison Mid Cap
MDCIX Fund  USD 16.52  0.05  0.30%   
The current 90-days correlation between Madison Mid Cap and Madison Mid Cap is 0.99 (i.e., No risk reduction). The correlation of Madison Mid 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 Mid Correlation With Market

Very poor diversification

The correlation between Madison Mid Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Mid Cap 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 Mid Cap. 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 Madison Mutual Fund

  1.0MMCRX Madison Mid CapPairCorr
  0.88MMDAX Madison Moderate AllPairCorr
  0.96MNVAX Madison InvestorsPairCorr
  0.96MNVRX Madison InvestorsPairCorr
  0.91BVAOX Broadview OpportunityPairCorr
  0.88MADAX Madison Dividend IncomePairCorr
  0.88MADRX Madison FundsPairCorr
  0.9MAGSX Madison AggressivePairCorr
  0.88BHBFX Madison Dividend IncomePairCorr
  0.91MSCIX Madison Small CapPairCorr
  0.91MSCRX Madison Small CapPairCorr
  0.91MASMX Madison Small CapPairCorr
  0.85MBLAX Madison DiversifiedPairCorr
  0.85MCNAX Madison ConservativePairCorr
  0.88MDMIX Madison Dividend IncomePairCorr
  0.84MENAX Madison Ered CallPairCorr
  0.84MENIX Madison FundsPairCorr
  0.84MENRX Madison Ered CallPairCorr
  0.84MENYX Madison Ered CallPairCorr
  1.0MERAX Madison Mid CapPairCorr
  0.96MINVX Madison InvestorsPairCorr
  0.96MIVIX Madison InvestorsPairCorr
  0.79GTFHX Madison Tax FreePairCorr
  1.0GTSGX Madison Mid CapPairCorr
  0.9VIMAX Vanguard Mid CapPairCorr
  0.9VIMSX Vanguard Mid CapPairCorr
  0.9VMCPX Vanguard Mid CapPairCorr
  0.9VMCIX Vanguard Mid CapPairCorr
  0.89VEXAX Vanguard Extended MarketPairCorr
  0.89VEMPX Vanguard Extended MarketPairCorr
  0.89VIEIX Vanguard Extended MarketPairCorr
  0.87VSEMX Vanguard Extended MarketPairCorr
  0.89VEXMX Vanguard Extended MarketPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Mid 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 Mid'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MMCRX  0.82 (0.01)(0.01) 0.12  0.92 
(0.90)
 2.17 
(1.96)
 5.86 
MMDAX  0.38  0.04 (0.03) 0.22  0.32 
(0.43)
 1.14 
(0.71)
 2.57 
MNVAX  0.69 (0.05)(0.06) 0.08  0.73 
(0.83)
 1.68 
(1.45)
 5.09 
MNVRX  0.69 (0.04)(0.06) 0.08  0.73 
(0.80)
 1.66 
(1.48)
 5.08 
BVAOX  0.90  0.02  0.03  0.15  0.96 
(0.97)
 2.18 
(1.98)
 7.01 
MADAX  0.58  0.02 (0.02) 0.16  0.55 
(0.64)
 1.61 
(1.28)
 3.62 
MADRX  0.58  0.03 (0.02) 0.17  0.55 
(0.62)
 1.61 
(1.20)
 3.62 
MAGSX  0.48  0.06  0.02  0.22  0.45 
(0.54)
 1.37 
(1.01)
 3.39 
BHBFX  0.58  0.02 (0.02) 0.16  0.56 
(0.62)
 1.61 
(1.24)
 3.70 
MSCIX  0.89  0.02  0.03  0.15  0.96 
(0.96)
 2.18 
(1.98)
 6.99 

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