Applied Finance Correlations

Mutual Funds . USA . 
Fund . Applied Finance Explorer
AFDVX Fund  USD 21.93  0.19  0.86%   
The current 90-days correlation between Applied Finance Explorer and Thrivent Small Cap is 0.96 (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

Very poor diversification

The correlation between Applied Finance Explorer and DJI is 0.82 (i.e., Very poor 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

  0.99VSIIX Vanguard Small CapPairCorr
  0.99VISVX Vanguard Small CapPairCorr
  0.99DFSVX Us Small CapPairCorr
  0.99DFFVX Us Targeted ValuePairCorr
  0.99UBVCX Undiscovered ManagersPairCorr
  0.99UBVAX Undiscovered ManagersPairCorr
  0.99UBVSX Undiscovered ManagersPairCorr
  0.99AVFIX American Beacon SmallPairCorr
  0.98TILCX T Rowe PricePairCorr
  0.9ADNIX Amer Beacon Ark Steady GrowthPairCorr
  0.88IORLX Aim Taxexempt FundsPairCorr
  0.96FAHYX Fidelity Advisor HighPairCorr
  0.89PNRZX Pgim Jennison NaturalPairCorr
  0.96QGRPX Ubs Quality GrowthPairCorr
  0.96GGNPX Goldman Sachs HighPairCorr
  0.96NBPIX Neuberger Berman LargePairCorr
  0.96TRROX T Rowe PricePairCorr
  0.99JECIX John Hancock VarPairCorr
  0.98DHLTX Diamond Hill AllPairCorr
  0.95TEMVX Tiaa Cref EmergingPairCorr
  0.93NPSFX Nuveen Preferred SecPairCorr
  0.97PGBEX Blue Chip FundPairCorr
  0.97RYCVX Dow 2x StrategyPairCorr
  0.96BLARX Lord Abbett BalancedPairCorr
  0.87GPPSX Goldman Sachs ShortPairCorr
  0.95OPTIX Oppenheimer CapitalPairCorr
  0.87BUBSX Baird Ultra ShortPairCorr
  0.97AACRX Strategic AllocationPairCorr
  0.96STPAX Technology MunicationsPairCorr
  0.71PGCAX Investment Grade PoratePairCorr
  0.99STRBX Sterling Capital BehPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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