Angel Oak Correlations
| AOUAX Fund | USD 9.87 0.01 0.10% |
The correlation of Angel Oak 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.
Angel Oak Correlation With Market
Significant diversification
The correlation between Angel Oak Ultrashort and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Angel Oak Ultrashort and DJI in the same portfolio, assuming nothing else is changed.
Angel |
Moving together with Angel Mutual Fund
| 0.84 | ANGCX | Angel Oak Multi | PairCorr |
| 0.81 | ANGLX | Angel Oak Multi | PairCorr |
| 0.85 | ANGIX | Angel Oak Multi | PairCorr |
| 0.88 | AOUNX | Angel Oak Ultrashort | PairCorr |
| 0.86 | AOUIX | Angel Oak Ultrashort | PairCorr |
| 0.98 | PTSPX | Pimco Short Term | PairCorr |
| 0.9 | PTSHX | Short Term Fund | PairCorr |
| 0.97 | PSFAX | Short Term Fund | PairCorr |
| 0.87 | PTSRX | Short Term Fund | PairCorr |
| 0.89 | PSDNX | Putnam Ultra Short | PairCorr |
| 0.87 | LUSNX | Lord Abbett Ultra | PairCorr |
| 0.84 | MUIIX | Ultra Short Income | PairCorr |
| 0.82 | MUAIX | Ultra Short Income | PairCorr |
| 0.84 | MULSX | Ultra Short Income | PairCorr |
| 0.85 | BHCHX | Baron Health Care | PairCorr |
| 0.68 | REMVX | Rbc Emerging Markets | PairCorr |
| 0.65 | PCMNX | Pace Municipal Fixed | PairCorr |
| 0.63 | FROGX | Fidelity Municipal Income | PairCorr |
| 0.66 | GISTX | Goldman Sachs Technology | PairCorr |
| 0.66 | DBIWX | Dws Global Macro | PairCorr |
| 0.64 | TBGAX | Georgia Tax Free | PairCorr |
| 0.84 | FHCCX | Fidelity Advisor Health | PairCorr |
| 0.83 | CMGUX | Cmg Ultra Short | PairCorr |
| 0.72 | OWCAX | Old Westbury California | PairCorr |
| 0.66 | BXFIX | Barings Global Floating | PairCorr |
Moving against Angel Mutual Fund
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Angel Mutual Fund performing well and Angel Oak 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 Angel Oak'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MODXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FZDXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TLMXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FMFXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SWGXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| QCMMIX | 0.02 | 0.01 | 0.00 | 2.38 | 0.00 | 0.03 | 0.03 | |||
| FMVUX | 0.63 | (0.03) | (0.03) | 0.04 | 0.81 | 1.52 | 4.41 | |||
| JRSXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |