Amana Developing Correlations

Mutual Funds . USA . 
Fund . Amana Developing World
AMIDX Fund  USD 15.46  0.26  1.71%   
The current 90-days correlation between Amana Developing World and Sterling Capital Behavioral is 0.58 (i.e., Very weak diversification). The correlation of Amana Developing 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.

Amana Developing Correlation With Market

Very weak diversification

The correlation between Amana Developing World and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amana Developing World 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 Amana Developing World. 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 banks.

Moving together with Amana Mutual Fund

  0.95AMDWX Amana Developing WorldPairCorr
  0.94AMIGX Amana GrowthPairCorr
  0.81AMINX Amana IncomePairCorr
  0.86AMIPX Amana ParticipationPairCorr
  0.8AMANX Amana IncomePairCorr
  0.89AMAPX Amana ParticipationPairCorr
  0.97AMAGX Amana GrowthPairCorr
  0.9VEMAX Vanguard Emerging MarketsPairCorr
  0.93VEIEX Vanguard Emerging MarketsPairCorr
  0.9VEMIX Vanguard Emerging MarketsPairCorr
  0.93VEMRX Vanguard Emerging MarketsPairCorr
  0.91FWWNX American Funds NewPairCorr
  0.96FNFWX American Funds NewPairCorr
  0.91NEWFX New World FundPairCorr
  0.95NWFFX New World FundPairCorr
  0.95NEWCX New World FundPairCorr
  0.94ODVYX Oppenheimer DevelopingPairCorr
  0.94FTYPX Fidelity Freedom IndexPairCorr
  0.9FFBTX Fidelity Freedom BlendPairCorr
  0.66GABFX Gmo Asset AllocationPairCorr
  0.96GQLOX Gmo Quality FundPairCorr
  0.84GHVIX Gmo High YieldPairCorr
  0.89GMCQX Gmo Equity AllocationPairCorr
  0.82OWLSX Old Westbury LargePairCorr
  0.86HRACX Hartford GrowthPairCorr
  0.73PTSHX Short Term FundPairCorr
  0.92HCKSX Hartford ChecksPairCorr
  0.82DEDCX Delaware Emerging MarketsPairCorr
  0.93PSLDX Pimco Stocksplus LongPairCorr
  0.75PAPAX Putnam Asia PacificPairCorr
  0.89APDGX Artisan Global ValuePairCorr
  0.88PAALX All Asset FundPairCorr
  0.76BHYSX Blackrock Hi YldPairCorr
  0.91PNYAX New York MunicipalPairCorr
  0.88STFSX Federated StrategicPairCorr
  0.94KTRSX Deutsche Global IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Amana Mutual Fund performing well and Amana Developing 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 Amana Developing'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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