Applied Finance Correlations

Mutual Funds . USA . 
Fund . Applied Finance Explorer
AFDZX Fund  USD 24.55  0.05  0.20%   
The current 90-days correlation between Applied Finance Explorer and American Century High is 0.24 (i.e., Modest 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

Almost no diversification

The correlation between Applied Finance Explorer and DJI is 0.96 (i.e., Almost no 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 nation.

Moving together with Applied Mutual Fund

  0.91AFALX Applied Finance CorePairCorr
  0.91AFAZX Applied Finance CorePairCorr
  0.94AFDVX Applied Finance ExplorerPairCorr
  0.98AFVZX Applied Finance SelectPairCorr
  0.9AFVLX Applied Finance SelectPairCorr
  0.97VSIIX Vanguard Small CapPairCorr
  0.97VISVX Vanguard Small CapPairCorr
  0.95DFSVX Us Small CapPairCorr
  0.96DFFVX Us Targeted ValuePairCorr
  0.95UBVCX Undiscovered ManagersPairCorr
  0.94UBVAX Undiscovered ManagersPairCorr
  0.95UBVSX Undiscovered ManagersPairCorr
  0.94VSMCX Invesco Small CapPairCorr
  0.81PDI Pimco Dynamic IncomePairCorr
  0.93GTSVX Invesco Small CapPairCorr
  0.81PAHWX Pgim Jennison InternPairCorr
  0.97JSASX Jpmorgan SmartretirementPairCorr
  0.91FSAGX Gold Portfolio GoldPairCorr
  0.81PBFKX Pioneer BondPairCorr
  0.92SSAGX Virtus Seix GovernmentPairCorr
  0.93CDGCX Crafword Dividend GrowthPairCorr
  0.95RARPX American Funds RetirementPairCorr
  0.94JIIRX Lifestyle Ii AggressivePairCorr
  0.96JCASX Janus Global AllocationPairCorr
  0.95ACBYX American Beacon BalancedPairCorr
  0.72FAUDX Strategic Advisers ShortPairCorr
  0.93BMPIX Basic Materials Ultr Steady GrowthPairCorr
  0.89AHLAX American Beacon AhlPairCorr
  0.95STISX Federated StrategicPairCorr
  0.95AHTFX American High IncomePairCorr
  0.93MAMAX Mfs Moderate AllocationPairCorr

Moving against Applied Mutual Fund

  0.85TCTGX Transamerica CleartrackPairCorr
  0.85TCTJX Transamerica CleartrackPairCorr
  0.84TDKTX Cleartrack 2015 ClassPairCorr
  0.84TCSUX Cleartrack 2020 ClassPairCorr
  0.47USPSX Profunds UltrashortPairCorr
  0.98UIPIX Ultrashort Mid CapPairCorr
  0.8CESGX Coho Relative ValuePairCorr
  0.45USPIX Profunds UltrashortPairCorr

Related Correlations Analysis


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.

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