Applied Finance Correlations

AFVLX Fund

USD 24.20 0.26 1.09%

The current 90-days correlation between Applied Finance Select and Simt Tax Managed Managed is -0.1 (i.e., Good 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 Select and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Finance Select 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 Select. 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 industry.

Moving together with Applied Mutual Fund

0.82	AFALX	Applied Finance Core	Pair Corr
0.96	AFDVX	Applied Finance Explorer	Pair Corr
0.77	VVIAX	Vanguard Value Index	Pair Corr
0.82	WSHCX	Washington Mutual	Pair Corr
0.82	WSHFX	Washington Mutual	Pair Corr
0.81	DODGX	Dodge Stock Fund	Pair Corr
0.77	AMFFX	American Mutual	Pair Corr
0.76	AMFCX	American Mutual	Pair Corr
0.72	FEGOX	First Eagle Gold Steady Growth	Pair Corr
0.71	IOGYX	Invesco Gold Special Steady Growth	Pair Corr
0.69	FIJDX	Gold Portfolio Fidelity Steady Growth	Pair Corr
0.63	USAGX	Precious Metals And Steady Growth	Pair Corr
0.74	EPGFX	Europac Gold Steady Growth	Pair Corr
0.71	OGMIX	Oppenheimer Gold Special Steady Growth	Pair Corr
0.62	NINAX	Neuberger Berman Int	Pair Corr
0.63	QLSGX	Federated Mdt Small	Pair Corr
0.69	HSWFX	Hartford Schroders	Pair Corr
0.89	LRSOX	Lord Abbett Small	Pair Corr
0.65	VWELX	Vanguard Wellington	Pair Corr
0.65	VWENX	Vanguard Wellington	Pair Corr
0.71	RYHOX	Nasdaq 100 Fund	Pair Corr
0.77	AVCNX	American Century Etf	Pair Corr

Related Correlations Analysis

	STVYX	EGORX	WFLLX	TMMAX	STMPX	MDLVX	GWEIX	MIMSX	FOSBX	FOSCX
STVYX		0.92	0.0	0.92	0.68	0.81	0.92	-0.96	0.81	0.84	STVYX
EGORX	0.92		0.0	0.86	0.8	0.87	0.97	-0.86	0.88	0.92	EGORX
WFLLX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	WFLLX
TMMAX	0.92	0.86	0.0		0.7	0.84	0.84	-0.96	0.83	0.77	TMMAX
STMPX	0.68	0.8	0.0	0.7		0.88	0.79	-0.67	0.92	0.86	STMPX
MDLVX	0.81	0.87	0.0	0.84	0.88		0.88	-0.82	0.92	0.88	MDLVX
GWEIX	0.92	0.97	0.0	0.84	0.79	0.88		-0.85	0.86	0.93	GWEIX
MIMSX	-0.96	-0.86	0.0	-0.96	-0.67	-0.82	-0.85		-0.82	-0.77	MIMSX
FOSBX	0.81	0.88	0.0	0.83	0.92	0.92	0.86	-0.82		0.91	FOSBX
FOSCX	0.84	0.92	0.0	0.77	0.86	0.88	0.93	-0.77	0.91		FOSCX
	STVYX	EGORX	WFLLX	TMMAX	STMPX	MDLVX	GWEIX	MIMSX	FOSBX	FOSCX

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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

GWEIX	+ 0.97	EGORX
FOSCX	+ 0.93	GWEIX
EGORX	+ 0.92	STVYX
TMMAX	+ 0.92	STVYX
GWEIX	+ 0.92	STVYX
FOSCX	+ 0.92	EGORX

High negative correlations

MIMSX	- 0.96	TMMAX
MIMSX	- 0.96	STVYX
MIMSX	- 0.86	EGORX
MIMSX	- 0.85	GWEIX
FOSBX	- 0.82	MIMSX
MIMSX	- 0.82	MDLVX

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
STVYX	1.05	0.58	0.86	(0.89)	0.00	(1.47)	0.89	(0.70)	31.93
EGORX	0.72	0.20	0.13	13.70	0.54	(0.83)	1.31	(1.42)	8.69
WFLLX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TMMAX	1.06	0.54	0.85	(3.38)	0.00	(1.41)	0.89	(0.70)	32.02
STMPX	0.75	0.00	0.00	0.09	0.79	(0.82)	1.81	(1.55)	3.91
MDLVX	0.58	0.15	0.18	0.32	0.28	(0.70)	1.20	(0.96)	4.41
GWEIX	0.89	0.25	0.18	(22.98)	0.63	(1.10)	1.83	(1.19)	8.58
MIMSX	2.83	(1.56)	0.00	(0.52)	0.00	0.00	1.65	(1.32)	90.44
FOSBX	0.88	0.09	0.11	0.16	0.64	(1.02)	1.82	(1.52)	9.96
FOSCX	0.87	0.17	0.11	1.03	0.64	(1.02)	1.83	(1.53)	10.02

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