Monteagle Select Correlations

Mutual Funds . USA . 
Fund . Monteagle Select Value
MVEIX Fund  USD 10.90  0.02  0.18%   
The current 90-days correlation between Monteagle Select Value and Monteagle Enhanced Equity is -0.08 (i.e., Good diversification). The correlation of Monteagle Select 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.

Monteagle Select Correlation With Market

Very poor diversification

The correlation between Monteagle Select Value and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monteagle Select Value 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 Monteagle Select Value. 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 Monteagle Mutual Fund

  0.93BIGTX Texas FundPairCorr
  0.71EEIFX Monteagle Enhanced EquityPairCorr
  0.98HEQFX Henssler EquityPairCorr
  0.62VMVAX Vanguard Mid CapPairCorr
  0.71JVMAX John Hancock DisciplinedPairCorr
  0.63JVMIX John Hancock DisciplinedPairCorr
  0.62VMVIX Vanguard Mid CapPairCorr
  0.67JMVZX Jpmorgan Mid CapPairCorr
  0.67JMVRX Jpmorgan Mid CapPairCorr
  0.67JMVQX Jpmorgan Mid CapPairCorr
  0.67JMVYX Jpmorgan Mid CapPairCorr
  0.67JMVPX Jpmorgan Mid CapPairCorr
  0.65VETAX Victory Sycamore EstPairCorr
  0.92SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.66RSNRX Victory Global NaturalPairCorr
  0.95RANTX American Funds 2060PairCorr
  0.94CHUSX Alger Global GrowthPairCorr
  0.92AGDIX Ab High IncomePairCorr
  0.94PDEJX Prudential Day OnePairCorr
  0.96LEZAX Blackrock Lifepath EsgPairCorr
  0.96FFBSX Fidelity Freedom BlendPairCorr
  0.96STSNX Sterling Capital StrattonPairCorr
  0.95FLKYPX FlkypxPairCorr
  0.95BGGIX William Blair GlobalPairCorr
  0.87JERTX Janus Global RealPairCorr
  0.96FAMDX Fam Small CapPairCorr
  0.74PHRAX Virtus Real EstatePairCorr
  0.7RYPIX Transportation FundPairCorr
  0.91MSACX Active InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Monteagle Mutual Fund performing well and Monteagle Select 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 Monteagle Select'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
EEIFX  0.48  0.21  0.11 (2.55) 0.00 
(0.63)
 1.26 
(0.80)
 3.94 
MVEIX  0.81  0.04  0.04  0.18  0.72 
(0.95)
 1.95 
(1.27)
 6.08 
HEQFX  0.73  0.05  0.04  0.19  0.70 
(0.91)
 1.97 
(1.44)
 5.00 
JOBYX  0.46  0.20  0.09 (2.74) 0.29 
(0.52)
 1.43 
(1.05)
 3.16 
MBDBX  0.27  0.06 (0.14) 0.58  0.00 
(0.35)
 0.64 
(0.42)
 1.28 
GCLLX  0.62  0.22  0.08 (3.51) 0.53 
(0.73)
 2.04 
(1.34)
 5.10 
VAIGX  0.83  0.29  0.17 (16.18) 0.47 
(0.93)
 2.58 
(1.49)
 4.52 
VALAX  0.67  0.13  0.15  0.29  0.42 
(0.83)
 1.83 
(1.19)
 5.38 
GEGTX  0.84  0.32  0.17 (2.80) 0.71 
(0.97)
 2.47 
(1.37)
 6.06 
SSGVX  0.51  0.25  0.22 (2.84) 0.00 
(0.63)
 1.64 
(0.75)
 3.47 

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