World Energy Correlations

AIWEX Fund

USD 18.41 0.21 1.15%

The current 90-days correlation between World Energy and Mfs Technology Fund is 0.72 (i.e., Poor diversification). The correlation of World Energy 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.

World Energy Correlation With Market

Very weak diversification

The correlation between World Energy Fund and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding World Energy Fund 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 World Energy Fund. 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 banks.

Moving together with World Mutual Fund

0.71	APWEX	World Energy	Pair Corr
0.64	AAENX	Strategic Enhanced Yield	Pair Corr
0.77	AAWEX	World Energy	Pair Corr
0.79	ACWEX	World Energy	Pair Corr
0.74	VGENX	Vanguard Energy	Pair Corr
0.73	BRUFX	Bruce Fund Bruce	Pair Corr
0.74	SPGSX	State Street Premier	Pair Corr
0.73	KF	Korea Closed	Pair Corr
0.71	MCYAX	Mainstay Candriam	Pair Corr
0.88	VMMSX	Vanguard Emerging Markets	Pair Corr

Related Correlations Analysis

	MTCCX	VITAX	PTTEX	CMTFX	GISTX	PGKCX	NWHTX
MTCCX		0.95	0.83	0.97	0.48	0.87	0.72	MTCCX
VITAX	0.95		0.91	0.99	0.34	0.91	0.85	VITAX
PTTEX	0.83	0.91		0.88	0.29	0.98	0.75	PTTEX
CMTFX	0.97	0.99	0.88		0.42	0.89	0.83	CMTFX
GISTX	0.48	0.34	0.29	0.42		0.38	0.04	GISTX
PGKCX	0.87	0.91	0.98	0.89	0.38		0.69	PGKCX
NWHTX	0.72	0.85	0.75	0.83	0.04	0.69		NWHTX
	MTCCX	VITAX	PTTEX	CMTFX	GISTX	PGKCX	NWHTX

Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World Energy 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 World Energy'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
MTCCX	0.90	0.06	0.05	0.13	1.20	(0.93)	1.88	(2.58)	5.71
VITAX	0.93	0.06	0.04	0.13	1.48	(0.89)	1.84	(2.72)	5.95
PTTEX	0.96	0.14	0.05	1.70	1.37	(0.94)	1.93	(2.27)	6.21
CMTFX	0.94	0.06	0.05	0.13	1.34	(0.91)	1.87	(2.57)	5.72
GISTX	1.46	0.58	0.37	0.83	0.90	(1.79)	2.44	(2.49)	35.16
PGKCX	0.96	0.14	0.05	1.64	1.33	(0.94)	2.08	(2.65)	6.20
NWHTX	0.98	(0.01)	0.00	0.07	1.47	(0.92)	1.97	(2.51)	6.17

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World Energy Correlations

World Energy Correlation With Market

Very weak diversification

Moving together with World Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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