Applied Finance Correlations

AFDVX Fund

USD 24.03 0.10 0.42%

The current 90-days correlation between Applied Finance Explorer and Transamerica Smallmid Cap is 0.11 (i.e., Average diversification). The correlation of Applied Finance 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.

Applied Finance Correlation With Market

Poor diversification

The correlation between Applied Finance Explorer and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Finance Explorer and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Applied Finance Explorer. 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 unemployment.

Moving together with Applied Mutual Fund

0.99	AFDZX	Applied Finance Explorer	Pair Corr
0.8	AFVZX	Applied Finance Select	Pair Corr
0.92	VSIIX	Vanguard Small Cap	Pair Corr
0.9	VISVX	Vanguard Small Cap	Pair Corr
0.85	DFSVX	Us Small Cap	Pair Corr
0.75	DFFVX	Us Targeted Value	Pair Corr
0.61	GAFRX	Nationwide Investor	Pair Corr
0.68	ZABDFX	Zabdfx	Pair Corr

Moving against Applied Mutual Fund

0.42	XDSMX	Dreyfus Strategic	Pair Corr
0.39	XNXJX	Nuveen New Jersey	Pair Corr
0.42	XNBHX	Neuberger Berman Int	Pair Corr
0.31	XEMFX	Templeton Emerging	Pair Corr
0.33	FNYQX	Franklin New York	Pair Corr

Related Correlations Analysis

	TSVIX	CISMX	ARTQX	PRESX	AOGIX	ARFVX	TISVX	PIEQX	NBFCX	GTCSX
TSVIX		0.12	0.22	-0.42	-0.02	-0.14	0.48	0.35	-0.37	0.06	TSVIX
CISMX	0.12		0.4	0.45	0.52	0.47	0.64	0.5	0.48	0.38	CISMX
ARTQX	0.22	0.4		0.6	0.33	0.28	0.49	0.45	0.5	0.54	ARTQX
PRESX	-0.42	0.45	0.6		0.5	0.51	0.24	0.34	0.63	0.58	PRESX
AOGIX	-0.02	0.52	0.33	0.5		0.97	0.26	0.42	0.5	0.61	AOGIX
ARFVX	-0.14	0.47	0.28	0.51	0.97		0.16	0.29	0.53	0.51	ARFVX
TISVX	0.48	0.64	0.49	0.24	0.26	0.16		0.46	0.09	0.26	TISVX
PIEQX	0.35	0.5	0.45	0.34	0.42	0.29	0.46		0.34	0.5	PIEQX
NBFCX	-0.37	0.48	0.5	0.63	0.5	0.53	0.09	0.34		0.32	NBFCX
GTCSX	0.06	0.38	0.54	0.58	0.61	0.51	0.26	0.5	0.32		GTCSX
	TSVIX	CISMX	ARTQX	PRESX	AOGIX	ARFVX	TISVX	PIEQX	NBFCX	GTCSX

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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

ARFVX	+ 0.97	AOGIX
TISVX	+ 0.64	CISMX
NBFCX	+ 0.63	PRESX
GTCSX	+ 0.61	AOGIX
PRESX	+ 0.6	ARTQX
GTCSX	+ 0.58	PRESX

High negative correlations

PRESX	- 0.42	TSVIX
NBFCX	- 0.37	TSVIX
ARFVX	- 0.14	TSVIX
AOGIX	- 0.02	TSVIX

Risk-Adjusted Indicators

There is a big difference between Applied Mutual Fund performing well and Applied Finance 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 Applied Finance'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
TSVIX	0.66	0.01	(0.03)	0.10	0.81	(0.72)	1.40	(1.37)	3.60
CISMX	0.81	(0.11)	0.00	(0.06)	0.00	0.00	1.30	(1.87)	7.40
ARTQX	0.74	(0.09)	0.00	2.61	0.00	0.00	1.30	(1.28)	7.40
PRESX	0.80	(0.09)	0.00	0.45	0.00	0.00	1.26	(1.27)	12.25
AOGIX	0.58	(0.10)	0.00	(2.12)	0.00	0.00	0.92	(1.06)	8.67
ARFVX	0.64	(0.17)	0.00	(5.21)	0.00	0.00	0.85	(0.92)	13.32
TISVX	0.63	(0.10)	0.00	(0.10)	0.00	0.00	1.12	(1.37)	3.43
PIEQX	0.66	(0.03)	(0.03)	0.03	1.09	(0.61)	1.11	(1.44)	5.64
NBFCX	0.73	(0.13)	0.00	(0.63)	0.00	0.00	1.05	(1.60)	10.45
GTCSX	0.89	(0.06)	0.00	(0.82)	0.00	0.00	1.86	(1.50)	10.58

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