Applied Finance Correlations

AFDVX Fund

USD 20.49 0.11 0.53%

The current 90-days correlation between Applied Finance Explorer and Fidelity Small Cap is 0.95 (i.e., Almost no 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

Good diversification

The correlation between Applied Finance Explorer and DJI is -0.09 (i.e., Good 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 real.

Moving together with Applied Mutual Fund

0.95	AFALX	Applied Finance Core	Pair Corr
0.95	AFAZX	Applied Finance Core	Pair Corr
0.91	AFVZX	Applied Finance Select	Pair Corr
0.91	AFVLX	Applied Finance Select	Pair Corr
0.99	VSIIX	Vanguard Small Cap	Pair Corr
0.95	VISVX	Vanguard Small Cap	Pair Corr
0.95	DFSVX	Us Small Cap	Pair Corr
0.99	DFFVX	Us Targeted Value	Pair Corr
0.98	UBVCX	Undiscovered Managers	Pair Corr
0.98	UBVAX	Undiscovered Managers	Pair Corr
0.98	UBVSX	Undiscovered Managers	Pair Corr
0.99	AVFIX	American Beacon Small	Pair Corr
0.7	PFN	Pimco Income Strategy	Pair Corr
0.78	XDSMX	Dreyfus Strategic	Pair Corr
0.73	CIF	Mfs Intermediate High	Pair Corr
0.77	XNXJX	Nuveen New Jersey	Pair Corr
0.82	NXJ	Nuveen New Jersey	Pair Corr
0.77	XPPRX	Voya Prime Rate	Pair Corr
0.78	PCF	Putnam High Income	Pair Corr
0.78	XNBHX	Neuberger Berman Int	Pair Corr

Moving against Applied Mutual Fund

0.85	PNDIX	Pender Real Estate	Pair Corr
0.83	CRHSX	Catholic Rspnsbl Invst	Pair Corr
0.8	GVTFX	Us Government Securities	Pair Corr
0.77	IOSIX	Voya Global Bond	Pair Corr
0.6	JEEBX	John Hancock Enduring	Pair Corr
0.59	SCSPX	Sterling Capital Sec	Pair Corr
0.4	FEBIX	First Eagle Global	Pair Corr
0.95	PSNNX	Pimco Stocksplus Short	Pair Corr
0.88	TWUSX	Short Term Government	Pair Corr
0.87	WSGIX	Wells Fargo Short	Pair Corr
0.85	DFGBX	Dfa Five Year	Pair Corr

Related Correlations Analysis

	FCPGX	FSMVX	FDSCX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	VIASP
FCPGX		0.98	1.0	-0.2	0.68	0.43	0.79	0.62	0.73	-0.44	FCPGX
FSMVX	0.98		0.99	-0.16	0.61	0.39	0.82	0.7	0.79	-0.42	FSMVX
FDSCX	1.0	0.99		-0.19	0.66	0.43	0.82	0.65	0.77	-0.4	FDSCX
444859BR2	-0.2	-0.16	-0.19		-0.38	-0.31	-0.03	0.08	-0.01	-0.02	444859BR2
AQUI	0.68	0.61	0.66	-0.38		0.5	0.24	0.28	0.24	-0.58	AQUI
BRRAY	0.43	0.39	0.43	-0.31	0.5		0.18	0.17	0.16	-0.34	BRRAY
MSTSX	0.79	0.82	0.82	-0.03	0.24	0.18		0.6	0.9	0.08	MSTSX
ABHYX	0.62	0.7	0.65	0.08	0.28	0.17	0.6		0.8	-0.17	ABHYX
LBHIX	0.73	0.79	0.77	-0.01	0.24	0.16	0.9	0.8		0.08	LBHIX
VIASP	-0.44	-0.42	-0.4	-0.02	-0.58	-0.34	0.08	-0.17	0.08		VIASP
	FCPGX	FSMVX	FDSCX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	VIASP

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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

FDSCX	+ 1.0	FCPGX
FDSCX	+ 0.99	FSMVX
FSMVX	+ 0.98	FCPGX
LBHIX	+ 0.9	MSTSX
MSTSX	+ 0.82	FSMVX
MSTSX	+ 0.82	FDSCX

High negative correlations

VIASP	- 0.58	AQUI
VIASP	- 0.44	FCPGX
VIASP	- 0.42	FSMVX
VIASP	- 0.4	FDSCX
AQUI	- 0.38	444859BR2
VIASP	- 0.34	BRRAY

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
FCPGX	1.57	(0.22)	0.00	1.87	0.00	0.00	2.45	(3.87)	13.87
FSMVX	1.34	(0.22)	0.00	3.07	0.00	0.00	2.31	(3.12)	13.60
FDSCX	1.37	(0.19)	0.00	1.67	0.00	0.00	2.37	(2.62)	13.14
444859BR2	0.55	0.01	0.13	(0.25)	1.00	(0.56)	1.19	(1.36)	6.38
AQUI	1.49	(0.77)	0.00	19.24	0.00	0.00	0.00	0.00	50.00
BRRAY	1.41	(0.12)	0.00	(1.81)	0.00	0.00	1.22	(9.33)	25.10
MSTSX	0.90	(0.02)	0.08	0.04	1.41	(0.91)	1.61	(1.54)	10.06
ABHYX	0.39	(0.05)	0.00	0.82	0.00	0.00	0.59	(1.52)	4.17
LBHIX	0.22	(0.01)	0.20	(0.29)	0.33	(0.33)	0.49	(0.48)	1.92
VIASP	0.65	0.12	0.29	1.19	0.69	(0.76)	1.81	(1.03)	4.84

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