Cavanal Hill Correlations

AILIX Fund

USD 13.11 0.14 1.08%

The current 90-days correlation between Cavanal Hill Hedged and Putnam Diversified Income is -0.16 (i.e., Good diversification). The correlation of Cavanal Hill 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.

Cavanal Hill Correlation With Market

Good diversification

The correlation between Cavanal Hill Hedged and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cavanal Hill Hedged 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 Cavanal Hill Hedged. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Cavanal Mutual Fund

0.73	GATEX	Gateway Fund Class	Pair Corr
0.61	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.72	GMCQX	Gmo Equity Allocation	Pair Corr
0.73	GPICX	Guidepath Conservative	Pair Corr
0.65	INTC	Intel Aggressive Push	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.64	AXP	American Express	Pair Corr
0.61	MMM	3M Company	Pair Corr

Moving against Cavanal Mutual Fund

0.64	VZ	Verizon Communications	Pair Corr
0.64	BA	Boeing	Pair Corr
0.6	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr
0.56	DIS	Walt Disney	Pair Corr
0.49	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	PDINX	MNDWX	AAHYX	PGBAX	CDBCX	MDBLX
PDINX		0.82	0.79	0.71	0.93	0.88	PDINX
MNDWX	0.82		0.93	0.75	0.89	0.94	MNDWX
AAHYX	0.79	0.93		0.82	0.87	0.94	AAHYX
PGBAX	0.71	0.75	0.82		0.85	0.88	PGBAX
CDBCX	0.93	0.89	0.87	0.85		0.97	CDBCX
MDBLX	0.88	0.94	0.94	0.88	0.97		MDBLX
	PDINX	MNDWX	AAHYX	PGBAX	CDBCX	MDBLX

Risk-Adjusted Indicators

There is a big difference between Cavanal Mutual Fund performing well and Cavanal Hill 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 Cavanal Hill'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
PDINX	0.11	0.01	(0.05)	0.19	0.00	(0.21)	0.20	(0.20)	0.60
MNDWX	0.08	0.03	0.07	1.56	0.00	(0.13)	0.19	(0.10)	0.58
AAHYX	0.16	0.02	0.00	0.08	0.07	(0.22)	0.40	(0.27)	0.95
PGBAX	0.12	0.01	(0.05)	0.19	0.00	(0.16)	0.25	(0.17)	0.75
CDBCX	0.16	0.02	0.01	(0.85)	0.00	(0.21)	0.33	(0.22)	0.97
MDBLX	0.15	0.03	0.03	1.18	0.00	(0.19)	0.36	(0.24)	0.83

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