Madison Dividend Correlations

Mutual Funds . USA . 
Fund . Madison Dividend Income
BHBFX Fund  USD 26.40  0.06  0.23%   
The current 90-days correlation between Madison Dividend Income and Madison Investors Fund is 0.87 (i.e., Very poor diversification). The correlation of Madison Dividend 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.

Madison Dividend Correlation With Market

Very poor diversification

The correlation between Madison Dividend Income and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Dividend Income 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 Madison Dividend Income. 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 census.

Moving together with Madison Mutual Fund

  0.86MMCRX Madison Mid CapPairCorr
  0.97MMDAX Madison Moderate AllPairCorr
  0.91MNVAX Madison InvestorsPairCorr
  0.94MNVRX Madison InvestorsPairCorr
  0.95BVAOX Broadview OpportunityPairCorr
  1.0MADAX Madison Dividend IncomePairCorr
  1.0MADRX Madison FundsPairCorr
  0.97MAGSX Madison AggressivePairCorr
  0.95MSCIX Madison Small CapPairCorr
  0.97MSCRX Madison Small CapPairCorr
  0.95MASMX Madison Small CapPairCorr
  0.97MBLAX Madison DiversifiedPairCorr
  0.63MBOIX Madison Core BondPairCorr
  0.64MBORX Madison FundsPairCorr
  0.64MBOYX Madison E BondPairCorr
  0.65MBOAX Madison E BondPairCorr
  0.96MCNAX Madison ConservativePairCorr
  0.88MDCIX Madison Mid CapPairCorr
  0.97MDMIX Madison Dividend IncomePairCorr
  0.96MENAX Madison Ered CallPairCorr
  0.98MENIX Madison FundsPairCorr
  0.97MENRX Madison Ered CallPairCorr
  0.98MENYX Madison Ered CallPairCorr
  0.85MERAX Madison Mid CapPairCorr
  0.68MIIRX Madison FundsPairCorr
  0.69MIIBX Madison High QualityPairCorr
  0.94MINVX Madison InvestorsPairCorr
  0.94MIVIX Madison InvestorsPairCorr
  0.89GTFHX Madison Tax FreePairCorr
  0.86GTSGX Madison Mid CapPairCorr
  0.99VVIAX Vanguard Value IndexPairCorr
  0.99DOXGX Dodge Cox StockPairCorr
  0.99AFMFX American MutualPairCorr
  0.99FFMMX American Funds AmericanPairCorr
  0.99FFFMX American Funds AmericanPairCorr
  0.96AMRMX American MutualPairCorr
  0.96AMFFX American MutualPairCorr
  0.96AMFCX American MutualPairCorr
  0.97DODGX Dodge Stock FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Dividend 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 Madison Dividend'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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