Victory Diversified Correlations

SRVEX Fund

USD 24.47 0.21 0.85%

The current 90-days correlation between Victory Diversified Stock and Income Fund Income is 0.05 (i.e., Significant diversification). The correlation of Victory Diversified 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.

Victory Diversified Correlation With Market

Very poor diversification

The correlation between Victory Diversified Stock and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Diversified Stock and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Victory Diversified Stock. 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 income.

Moving together with Victory Mutual Fund

0.94	UINQX	Usaa Nasdaq 100	Pair Corr
0.84	SSGSX	Victory Sycamore Small	Pair Corr
0.8	SBALX	Victory Strategic	Pair Corr
1.0	SSVSX	Victory Special Value	Pair Corr
0.87	SBFCX	Victory Incore Investment	Pair Corr
0.87	SBFMX	Victory Portfolios	Pair Corr
0.78	MMECX	Victory Integrity	Pair Corr
0.79	MMEAX	Victory Integrity	Pair Corr
0.88	RPPRX	Victory Rs Partners	Pair Corr
0.96	MMIJX	Victory Integrity Mid	Pair Corr
0.73	MMMMX	Victory Integrity	Pair Corr
0.95	MMMSX	Victory Integrity	Pair Corr
0.95	MNNAX	Victory Munder Multi	Pair Corr
0.94	RSEGX	Victory Rs Small	Pair Corr
0.96	RSDGX	Victory Rs Select	Pair Corr
0.79	RSFYX	Victory Floating Rate	Pair Corr
0.92	RSGGX	Victory Rs Global	Pair Corr
0.96	RSGFX	Victory Rs Select	Pair Corr
0.98	RSGRX	Victory Rs Growth	Pair Corr
0.78	RSFCX	Victory Floating Rate	Pair Corr
0.79	RSFMX	Victory Floating Rate	Pair Corr
0.79	RSFLX	Victory Floating Rate	Pair Corr
0.97	RSIFX	Victory Rs Science	Pair Corr
0.89	RSINX	Victory Rs Investors	Pair Corr
0.82	RSIYX	Victory Rs Investors	Pair Corr
0.86	RSMMX	Victory Rs Small	Pair Corr
0.96	RSMOX	Victory Rs Mid	Pair Corr
0.81	RSPFX	Victory Rs Partners	Pair Corr
0.88	RSNRX	Victory Global Natural	Pair Corr

Moving against Victory Mutual Fund

0.65	UITBX	Intermediate Term Bond	Pair Corr
0.64	UITCX	Usaa Intermediate Term	Pair Corr
0.53	UINCX	Income Fund Income	Pair Corr

Related Correlations Analysis

	UINCX	UINQX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBALX
UINCX		-0.55	0.95	0.98	0.73	0.82	-0.47	-0.01	UINCX
UINQX	-0.55		-0.65	-0.66	-0.16	-0.29	0.76	0.73	UINQX
UITBX	0.95	-0.65		0.96	0.63	0.81	-0.54	-0.14	UITBX
UITCX	0.98	-0.66	0.96		0.68	0.8	-0.53	-0.15	UITCX
UITIX	0.73	-0.16	0.63	0.68		0.83	-0.18	0.34	UITIX
GUTEX	0.82	-0.29	0.81	0.8	0.83		-0.23	0.15	GUTEX
SSGSX	-0.47	0.76	-0.54	-0.53	-0.18	-0.23		0.59	SSGSX
SBALX	-0.01	0.73	-0.14	-0.15	0.34	0.15	0.59		SBALX
	UINCX	UINQX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBALX

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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

UITCX	+ 0.98	UINCX
UITCX	+ 0.96	UITBX
UITBX	+ 0.95	UINCX
GUTEX	+ 0.83	UITIX
GUTEX	+ 0.82	UINCX
GUTEX	+ 0.81	UITBX

High negative correlations

UITCX	- 0.66	UINQX
UITBX	- 0.65	UINQX
UINQX	- 0.55	UINCX
SSGSX	- 0.54	UITBX
SSGSX	- 0.53	UITCX
SSGSX	- 0.47	UINCX

Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory Diversified 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 Victory Diversified'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
UINCX	0.20	(0.03)	0.00	(0.77)	0.00	0.00	0.43	(0.51)	1.22
UINQX	0.76	0.16	0.02	(2.29)	0.83	(0.79)	2.16	(1.67)	5.16
UITBX	0.22	(0.02)	0.00	0.41	0.00	0.00	0.43	(0.55)	1.21
UITCX	0.22	(0.03)	0.00	(7.01)	0.00	0.00	0.33	(0.55)	1.19
UITIX	0.12	(0.01)	(0.39)	(0.07)	0.17	(0.18)	0.32	(0.24)	1.19
GUTEX	0.20	0.01	(0.29)	0.06	0.31	(0.26)	0.48	(0.46)	1.90
SSGSX	0.88	(0.02)	0.03	0.11	0.73	(1.09)	2.00	(1.33)	7.39
SBALX	0.38	(0.03)	(0.19)	0.08	0.38	(0.45)	0.85	(0.74)	2.50

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