Applied Finance Correlations

AFVLX Fund

USD 23.72 0.03 0.13%

The current 90-days correlation between Applied Finance Select and Simt Tax Managed Managed is 0.63 (i.e., Poor 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 Select and DJI is 0.83 (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 Select 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 Select. 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 inflation.

Moving together with Applied Mutual Fund

1.0	AFVZX	Applied Finance Select	Pair Corr
0.98	FWWMX	American Funds Washington	Pair Corr
0.98	FWMMX	American Funds Washington	Pair Corr
0.98	AWSHX	Washington Mutual	Pair Corr
0.98	WSHCX	Washington Mutual	Pair Corr
0.98	WSHFX	Washington Mutual	Pair Corr
0.96	VVIAX	Vanguard Value Index	Pair Corr
0.98	RWMAX	Washington Mutual	Pair Corr
0.98	CWMAX	Washington Mutual	Pair Corr
0.98	RWMGX	Washington Mutual	Pair Corr
0.98	CWMCX	Washington Mutual	Pair Corr
0.77	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.77	PMPSX	Precious Metals Ultr	Pair Corr
0.82	FGPMX	Franklin Gold And Steady Growth	Pair Corr
0.82	FRGOX	Franklin Gold Precious	Pair Corr
0.81	MIDSX	Midas Fund Midas	Pair Corr
0.78	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.92	LMPRX	Clearbridge Aggressive	Pair Corr
0.89	VWELX	Vanguard Wellington	Pair Corr
0.95	RECTX	American Funds 2020	Pair Corr
0.9	BRWSX	Mfs Blended Research	Pair Corr
0.83	BXIAX	Barings Global Credit	Pair Corr
0.76	BDAIX	Baron Durable Advantage	Pair Corr
0.96	RELSX	Equity Growth Strategy	Pair Corr
0.93	HSIIX	Eagle Small Cap	Pair Corr
0.85	COSIX	Columbia Strategic Income	Pair Corr
0.93	DRMCX	Allianzgi Mid Cap	Pair Corr
0.92	FRIEX	Federated Hermes Emerging	Pair Corr
0.68	FAGNX	Fidelity Advisor Energy	Pair Corr
0.84	MHIKX	Mfs High Income	Pair Corr
0.86	IEOPX	Ing Evergreen Omega	Pair Corr
0.95	AAGTX	American Funds 2040	Pair Corr
0.9	AIFIX	Salient Investment Grade	Pair Corr
0.94	WFIVX	Wilshire 5000 Index	Pair Corr

Related Correlations Analysis

	STVYX	EGORX	WFLLX	TMMAX	STMPX	MDLVX	GWEIX	MIMSX	FOSBX	FOSCX
STVYX		0.41	0.32	1.0	0.72	0.45	0.37	0.75	0.43	0.42	STVYX
EGORX	0.41		0.75	0.39	0.78	0.95	0.81	0.7	0.07	0.06	EGORX
WFLLX	0.32	0.75		0.3	0.45	0.84	0.58	0.33	-0.37	-0.38	WFLLX
TMMAX	1.0	0.39	0.3		0.71	0.43	0.36	0.74	0.43	0.43	TMMAX
STMPX	0.72	0.78	0.45	0.71		0.75	0.78	0.94	0.59	0.58	STMPX
MDLVX	0.45	0.95	0.84	0.43	0.75		0.85	0.65	0.02	0.01	MDLVX
GWEIX	0.37	0.81	0.58	0.36	0.78	0.85		0.7	0.38	0.37	GWEIX
MIMSX	0.75	0.7	0.33	0.74	0.94	0.65	0.7		0.64	0.64	MIMSX
FOSBX	0.43	0.07	-0.37	0.43	0.59	0.02	0.38	0.64		1.0	FOSBX
FOSCX	0.42	0.06	-0.38	0.43	0.58	0.01	0.37	0.64	1.0		FOSCX
	STVYX	EGORX	WFLLX	TMMAX	STMPX	MDLVX	GWEIX	MIMSX	FOSBX	FOSCX

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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

TMMAX	+ 1.0	STVYX
FOSCX	+ 1.0	FOSBX
MDLVX	+ 0.95	EGORX
MIMSX	+ 0.94	STMPX
GWEIX	+ 0.85	MDLVX
MDLVX	+ 0.84	WFLLX

High negative correlations

FOSCX	- 0.38	WFLLX
FOSBX	- 0.37	WFLLX

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
STVYX	0.36	(0.04)	(0.16)	0.02	0.44	(0.39)	0.82	(0.81)	2.51
EGORX	0.52	(0.02)	(0.03)	0.07	0.67	(0.54)	1.38	(0.96)	4.37
WFLLX	0.37	0.07	(0.03)	4.14	0.21	(0.62)	0.96	(0.70)	2.56
TMMAX	0.36	(0.04)	(0.16)	0.02	0.45	(0.39)	0.82	(0.81)	2.46
STMPX	0.77	(0.07)	(0.03)	0.05	0.86	(0.87)	1.84	(1.29)	6.33
MDLVX	0.43	0.02	0.01	0.12	0.38	(0.51)	1.04	(0.66)	3.60
GWEIX	0.81	(0.04)	0.01	0.07	0.77	(0.94)	1.86	(1.24)	5.99
MIMSX	0.61	(0.09)	(0.09)	0.01	0.74	(0.68)	1.45	(1.01)	4.81
FOSBX	0.86	(0.12)	(0.07)	0.01	1.00	(0.91)	2.18	(1.49)	6.61
FOSCX	0.86	(0.13)	(0.07)	0.01	0.98	(0.97)	2.16	(1.51)	6.67

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