Extended Market Correlations

USMIX Fund

USD 20.87 0.06 0.29%

The current 90-days correlation between Extended Market Index and Income Fund Income is 0.25 (i.e., Modest diversification). The correlation of Extended Market 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.

Extended Market Correlation With Market

Good diversification

The correlation between Extended Market Index and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Extended Market Index 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 Extended Market Index. 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 Extended Mutual Fund

0.97	UINQX	Usaa Nasdaq 100	Pair Corr
0.68	UITBX	Intermediate Term Bond	Pair Corr
0.74	UITIX	Usaa Tax Exempt	Pair Corr
0.94	SBFMX	Victory Portfolios	Pair Corr
0.62	MMECX	Victory Integrity	Pair Corr
0.99	MMEAX	Victory Integrity	Pair Corr
0.99	RSEGX	Victory Rs Small	Pair Corr
0.91	RSFYX	Victory Floating Rate	Pair Corr
0.98	RSGRX	Victory Rs Growth	Pair Corr
0.92	RSFMX	Victory Floating Rate	Pair Corr
0.98	RSMOX	Victory Rs Mid	Pair Corr
0.96	RSNRX	Victory Global Natural	Pair Corr
0.96	RSNYX	Victory Global Natural	Pair Corr
0.94	RSPMX	Victory Rs Partners Potential Growth	Pair Corr
0.94	RSPYX	Victory Rs Partners Potential Growth	Pair Corr
0.98	RSVAX	Victory Rs Value	Pair Corr
0.62	RCOCX	Victory Rs Large	Pair Corr
1.0	MAIMX	Victory Integrity Mid	Pair Corr
0.99	VDSCX	Victory Diversified Stock	Pair Corr

Related Correlations Analysis

	UINCX	UINQX	SRVEX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBFCX	SBFMX
UINCX		0.49	0.31	0.95	0.76	0.69	0.13	0.31	0.18	0.53	UINCX
UINQX	0.49		0.49	0.69	0.34	0.73	-0.29	0.51	0.22	0.88	UINQX
SRVEX	0.31	0.49		0.46	0.64	0.21	-0.38	0.95	0.83	0.47	SRVEX
UITBX	0.95	0.69	0.46		0.76	0.76	-0.01	0.45	0.26	0.68	UITBX
UITCX	0.76	0.34	0.64	0.76		0.38	-0.15	0.58	0.51	0.34	UITCX
UITIX	0.69	0.73	0.21	0.76	0.38		0.35	0.29	0.01	0.67	UITIX
GUTEX	0.13	-0.29	-0.38	-0.01	-0.15	0.35		-0.24	-0.25	-0.2	GUTEX
SSGSX	0.31	0.51	0.95	0.45	0.58	0.29	-0.24		0.9	0.53	SSGSX
SBFCX	0.18	0.22	0.83	0.26	0.51	0.01	-0.25	0.9		0.41	SBFCX
SBFMX	0.53	0.88	0.47	0.68	0.34	0.67	-0.2	0.53	0.41		SBFMX
	UINCX	UINQX	SRVEX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBFCX	SBFMX

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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

UITBX	+ 0.95	UINCX
SSGSX	+ 0.95	SRVEX
SBFCX	+ 0.9	SSGSX
SBFMX	+ 0.88	UINQX
SBFCX	+ 0.83	SRVEX
UITCX	+ 0.76	UINCX

High negative correlations

GUTEX	- 0.38	SRVEX
GUTEX	- 0.29	UINQX
SBFCX	- 0.25	GUTEX
SSGSX	- 0.24	GUTEX
SBFMX	- 0.2	GUTEX
GUTEX	- 0.15	UITCX

Risk-Adjusted Indicators

There is a big difference between Extended Mutual Fund performing well and Extended Market 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 Extended Market'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	0.24	0.00	(0.41)	(0.29)	0.26	(0.26)	0.44	(0.52)	1.14
UINQX	0.80	0.18	0.16	0.31	0.59	(0.92)	2.39	(1.28)	5.37
SRVEX	0.57	0.21	0.24	0.50	0.00	(0.69)	1.73	(0.80)	4.73
UITBX	0.24	0.01	(0.36)	1.77	0.22	(0.28)	0.55	(0.44)	1.22
UITCX	0.23	0.01	(0.41)	0.38	0.18	(0.30)	0.44	(0.44)	1.10
UITIX	0.13	0.00	(0.61)	0.01	0.13	(0.16)	0.25	(0.33)	1.07
GUTEX	0.21	0.00	0.00	0.00	0.00	0.00	0.38	(0.63)	1.65
SSGSX	0.88	0.06	0.04	0.21	0.84	(1.01)	2.11	(1.72)	6.24
SBFCX	0.30	0.03	(0.15)	0.26	0.21	(0.35)	0.73	(0.50)	2.07
SBFMX	0.33	0.10	(0.09)	(1.06)	0.26	(0.38)	0.77	(0.57)	2.57

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