World Energy Correlations

Mutual Funds . USA . 
Fund . World Energy Fund
ACWEX Fund  USD 16.53  0.10  0.61%   
The current 90-days correlation between World Energy and Bond Fund Investor is -0.01 (i.e., Good 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

Weak diversification

The correlation between World Energy Fund and DJI is 0.39 (i.e., 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 income.

Moving together with World Mutual Fund

  0.72APENX Strategic Enhanced YieldPairCorr
  0.96APLIX Cavanal Hill HedgedPairCorr
  0.83APSTX Limited DurationPairCorr
  0.92APUSX Cavanal Hill UltraPairCorr
  1.0APWEX World EnergyPairCorr
  0.72AAENX Strategic Enhanced YieldPairCorr
  0.96AALIX Astonherndon Large CapPairCorr
  0.84AASTX Limited DurationPairCorr
  0.92AAUSX Cavanal Hill UltraPairCorr
  1.0AAWEX World EnergyPairCorr
  0.74AIENX Strategic Enhanced YieldPairCorr
  0.95AILIX Cavanal Hill HedgedPairCorr
  0.83AISTX Limited DurationPairCorr
  0.91AIUSX Cavanal Hillultra ShortPairCorr
  1.0AIWEX World EnergyPairCorr
  0.97VGELX Vanguard EnergyPairCorr
  0.97VGENX Vanguard EnergyPairCorr
  0.91VENAX Vanguard Energy IndexPairCorr
  0.95FSENX Fidelity Select PortPairCorr
  0.95FNRCX Fidelity Advisor EnergyPairCorr
  0.95FANAX Fidelity Advisor EnergyPairCorr
  0.95FAGNX Fidelity Advisor EnergyPairCorr
  0.95FANIX Fidelity Advisor EnergyPairCorr
  0.97FNARX Fidelity Natural ResPairCorr
  0.96IENIX Invesco EnergyPairCorr
  0.78MGGYX Mirova Global GreenPairCorr
  0.94HLDIX Hartford EmergingPairCorr
  0.94HLDRX Hartford EmergingPairCorr
  0.93HLDAX Hartford EmergingPairCorr
  0.94HLDCX Hartford EmergingPairCorr
  0.94HLDTX Hartford EmergingPairCorr
  0.97ROGSX Red Oak TechnologyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APBDX  0.25 (0.01)(0.36) 0.04  0.30 
(0.27)
 0.48 
(0.59)
 1.20 
APENX  0.23  0.01 (0.33) 0.19  0.22 
(0.26)
 0.46 
(0.46)
 1.16 
APLIX  0.52  0.11  0.10  0.29  0.33 
(0.59)
 1.57 
(0.93)
 4.17 
APSTX  0.11  0.01 (0.63) 0.57  0.00 
(0.17)
 0.22 
(0.22)
 0.96 
APUSX  0.03  0.00  0.00  1.96  0.00 
 0.00 
 0.10 
 0.00 
 0.30 
APWEX  0.86  0.30  0.19  0.78  0.76 
(0.99)
 2.09 
(1.46)
 4.52 
AABOX  0.24 (0.01)(0.36) 0.04  0.27 
(0.27)
 0.48 
(0.47)
 1.20 
AAENX  0.22  0.01 (0.39) 0.23  0.18 
(0.27)
 0.47 
(0.46)
 1.17 
AALIX  0.51  0.11  0.09  0.29  0.36 
(0.59)
 1.57 
(0.93)
 4.17 
AAUSX  0.03  0.00  0.00  0.00  0.00 
 0.00 
 0.10 
 0.00 
 0.40 

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