Monetta Fund Correlations

MONTX Fund

USD 29.54 0.17 0.58%

The current 90-days correlation between Monetta Fund Monetta and Jackson Square Smid Cap is 0.25 (i.e., Modest diversification). The correlation of Monetta 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.

Monetta Fund Correlation With Market

Modest diversification

The correlation between Monetta Fund Monetta and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monetta Fund Monetta 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 Monetta Fund Monetta. 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 manufacturing.

Moving together with Monetta Mutual Fund

0.99	MYIFX	Monetta Young Investor	Pair Corr
0.74	FAFGX	American Funds	Pair Corr
0.74	FFAFX	American Funds	Pair Corr
0.76	GFACX	Growth Fund	Pair Corr
0.75	GFAFX	Growth Fund	Pair Corr
0.75	AGTHX	Growth Fund	Pair Corr
0.74	CGFFX	Growth Fund	Pair Corr
0.76	CGFCX	Growth Fund	Pair Corr
0.75	CGFAX	Growth Fund	Pair Corr
0.75	CGFEX	Growth Fund	Pair Corr
0.75	RGAEX	Growth Fund	Pair Corr

Related Correlations Analysis

	JSMVX	RBCGX	PFSLX	TSCIX	VILLX	CHASX	WMBLX	NMI	AABPX
JSMVX		0.33	0.72	0.39	-0.75	0.69	0.66	0.83	0.34	JSMVX
RBCGX	0.33		0.51	0.74	-0.06	0.69	0.75	0.55	0.77	RBCGX
PFSLX	0.72	0.51		0.44	-0.56	0.92	0.72	0.74	0.46	PFSLX
TSCIX	0.39	0.74	0.44		0.09	0.49	0.63	0.32	0.74	TSCIX
VILLX	-0.75	-0.06	-0.56	0.09		-0.57	-0.36	-0.74	0.07	VILLX
CHASX	0.69	0.69	0.92	0.49	-0.57		0.79	0.8	0.51	CHASX
WMBLX	0.66	0.75	0.72	0.63	-0.36	0.79		0.78	0.79	WMBLX
NMI	0.83	0.55	0.74	0.32	-0.74	0.8	0.78		0.46	NMI
AABPX	0.34	0.77	0.46	0.74	0.07	0.51	0.79	0.46		AABPX
	JSMVX	RBCGX	PFSLX	TSCIX	VILLX	CHASX	WMBLX	NMI	AABPX

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

CHASX	+ 0.92	PFSLX
NMI	+ 0.83	JSMVX
NMI	+ 0.8	CHASX
WMBLX	+ 0.79	CHASX
AABPX	+ 0.79	WMBLX
NMI	+ 0.78	WMBLX

High negative correlations

VILLX	- 0.75	JSMVX
NMI	- 0.74	VILLX
CHASX	- 0.57	VILLX
VILLX	- 0.56	PFSLX
WMBLX	- 0.36	VILLX
VILLX	- 0.06	RBCGX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JSMVX	0.77	0.10	0.05	3.78	0.78	(1.09)	2.03	(1.54)	5.33
RBCGX	0.77	0.01	(0.03)	(0.02)	1.17	(0.73)	1.46	(1.69)	5.05
PFSLX	1.17	0.08	0.07	0.09	1.33	(1.26)	2.42	(1.85)	7.50
TSCIX	0.89	0.00	(0.04)	0.04	1.17	(0.89)	1.57	(1.88)	5.26
VILLX	0.39	(0.07)	0.00	2.57	0.00	0.00	0.84	(0.74)	2.57
CHASX	0.80	0.05	0.04	0.09	1.06	(0.83)	1.79	(1.53)	5.21
WMBLX	0.29	0.03	(0.04)	(3.39)	0.30	(0.34)	0.66	(0.57)	1.88
NMI	0.25	0.04	(0.01)	(3.32)	0.21	(0.30)	0.60	(0.50)	1.84
AABPX	0.35	0.00	(0.07)	(0.37)	0.49	(0.33)	0.82	(0.66)	2.27

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