Channing Intrinsic Correlations

Mutual Funds . USA . 
Fund . Channing Intrinsic Value
OWLLX Fund  USD 11.01  0.07  0.64%   
The current 90-days correlation between Channing Intrinsic Value and Inverse Government Long is -0.16 (i.e., Good diversification). The correlation of Channing Intrinsic 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.

Channing Intrinsic Correlation With Market

Almost no diversification

The correlation between Channing Intrinsic Value and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Channing Intrinsic Value and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Channing Intrinsic Value. 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 bureau of economic analysis.

Moving together with Channing Mutual Fund

  0.99VSMAX Vanguard Small CapPairCorr
  0.99VSCIX Vanguard Small CapPairCorr
  0.99VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  0.99FSSNX Fidelity Small CapPairCorr
  0.99DFSTX Us Small CapPairCorr
  0.98PASVX T Rowe PricePairCorr
  0.99PRVIX T Rowe PricePairCorr
  0.99TRZVX T Rowe PricePairCorr
  0.99PRSVX T Rowe PricePairCorr
  0.88PFN Pimco Income StrategyPairCorr
  0.89CIF Mfs Intermediate HighPairCorr
  0.66PCF Putnam High IncomePairCorr
  0.95MWHYX Metropolitan West HighPairCorr
  0.98DGOYX Davis OpportunityPairCorr
  0.94MHCAX Mainstay High YieldPairCorr
  0.62OSPPX Oppenheimer Steelpath MlpPairCorr
  0.98RMBJX Rmb Fund CPairCorr
  0.92EMKIX Ashmore Emerging MarketsPairCorr
  0.96NQGIX Nuveen Nwq GlobalPairCorr
  0.98PHIKX Columbia ConvertiblePairCorr
  0.97ETFCX Stadion Tactical GrowthPairCorr
  0.93MSTMX Morningstar MultisectorPairCorr
  0.99CAMSX Cambiar Small CapPairCorr
  0.99FKICX Fidelity Small CapPairCorr
  0.98VISGX Vanguard Small CapPairCorr
  0.98BRMAX Blackrock Midcap IndexPairCorr
  0.97MLMAX Global E PortfolioPairCorr
  0.96PXGOX Pax Global OpportunitiesPairCorr
  0.96RWIBX Capital World GrowthPairCorr
  0.93NPSRX Nuveen Preferred SecPairCorr
  0.96GWOAX Gmo Global DevelopedPairCorr
  0.94CPXIX Cohen Steers PrfrdPairCorr

Related Correlations Analysis

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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   
PCMNX
+ 0.99
SNCAX
PCMNX
+ 0.99
BBINX
BBINX
+ 0.98
SNCAX
SNCAX
+ 0.94
AUNCX
PCMNX
+ 0.92
AUNCX
BBINX
+ 0.9
AUNCX
  
High negative correlations   
AUNCX
- 0.13
RYAQX
PCMNX
- 0.09
RYAQX
SNCAX
- 0.08
RYAQX
BBINX
- 0.02
RYAQX

Risk-Adjusted Indicators

There is a big difference between Channing Mutual Fund performing well and Channing Intrinsic 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 Channing Intrinsic'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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