Madison Funds Correlations

Mutual Funds . USA . 
Fund . Madison Funds
MENIX Fund  USD 8.81  0.11  1.26%   
The current 90-days correlation between Madison Funds and Investec Emerging Markets is 0.71 (i.e., Poor 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

Almost no diversification

The correlation between Madison Funds and DJI is 0.91 (i.e., Almost no 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 gross domestic product.

Moving together with Madison Mutual Fund

  0.87MMCRX Madison Mid CapPairCorr
  0.96MMDAX Madison Moderate AllPairCorr
  0.93MNVAX Madison InvestorsPairCorr
  0.93MNVRX Madison InvestorsPairCorr
  0.9BVAOX Broadview OpportunityPairCorr
  0.97MADAX Madison Dividend IncomePairCorr
  0.97MADRX Madison FundsPairCorr
  0.96MAGSX Madison AggressivePairCorr
  0.97BHBFX Madison Dividend IncomePairCorr
  0.9MSCIX Madison Small CapPairCorr
  0.97MBLAX Madison DiversifiedPairCorr
  0.92MCNAX Madison ConservativePairCorr
  0.97MDMIX Madison Dividend IncomePairCorr
  1.0MENAX Madison Ered CallPairCorr
  1.0MENYX Madison Ered CallPairCorr
  0.93MINVX Madison InvestorsPairCorr
  0.93MIVIX Madison InvestorsPairCorr
  0.87GTSGX Madison Mid CapPairCorr
  0.95JEPAX Jpmorgan Research EquityPairCorr
  0.96JEPCX Jpmorgan Research EquityPairCorr
  0.95JEPIX Jpmorgan Equity PremiumPairCorr
  0.93GSPKX Goldman Sachs EquityPairCorr
  0.93GVIRX Goldman Sachs EquityPairCorr
  0.93GSPAX Goldman Sachs EquityPairCorr
  0.93GSPQX Goldman Sachs EquityPairCorr
  0.93GSFPX Goldman Sachs EquityPairCorr
  0.93GIDWX Goldman Sachs EquityPairCorr
  0.98BMCIX Blackrock High EquityPairCorr

Moving against Madison Mutual Fund

  0.46MCOCX Madison ConservativePairCorr
  0.45MMDCX Madison Moderate AllPairCorr
  0.45MAACX Madison AggressivePairCorr
  0.67MIIBX Madison High QualityPairCorr
  0.5MINYX Madison InternationalPairCorr

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 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.

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