Texas Fund Correlations

Mutual Funds . USA . 
Fund . The Texas Fund
BIGTX Fund  USD 15.43  0.01  0.06%   
The current 90-days correlation between Texas Fund and Monteagle Enhanced Equity is 0.74 (i.e., Poor diversification). The correlation of Texas Fund 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.

Texas Fund Correlation With Market

Poor diversification

The correlation between The Texas Fund and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Texas Fund 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 The Texas Fund. 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 estimate.

Moving together with Texas Mutual Fund

  0.98EEIFX Monteagle Enhanced EquityPairCorr
  0.95MVEIX Monteagle Select ValuePairCorr
  0.97HEQFX Henssler EquityPairCorr
  0.97VIMAX Vanguard Mid CapPairCorr
  0.97VIMSX Vanguard Mid CapPairCorr
  0.97VMCPX Vanguard Mid CapPairCorr
  0.97VMCIX Vanguard Mid CapPairCorr
  0.98VEXAX Vanguard Extended MarketPairCorr
  0.98VEMPX Vanguard Extended MarketPairCorr
  0.98VIEIX Vanguard Extended MarketPairCorr
  0.96VSEMX Vanguard Extended MarketPairCorr
  0.98VEXMX Vanguard Extended MarketPairCorr
  0.98FSMAX Fidelity Extended MarketPairCorr
  0.98SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.98SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.96TTEEX T Rowe PricePairCorr
  0.96TREMX T Rowe PricePairCorr
  0.99FIKGX Fidelity Advisor SemPairCorr
  0.98ONERX One Rock Fund Steady GrowthPairCorr
  0.99FELCX Fidelity Advisor SemPairCorr
  0.99FELIX Fidelity Advisor SemPairCorr
  0.99FSELX Fidelity Select SemiPairCorr
  0.99FELAX Fidelity Advisor SemPairCorr
  0.98GWPFX American Funds GrowthPairCorr
  0.98RAGIX Riverfront Asset AllPairCorr
  0.98TGIHX Tiaa Cref GrowthPairCorr
  0.94MSVZX Massmutual Select SmallPairCorr
  0.96GSXIX Aberdeen Small CapPairCorr
  0.9BTLKX Baillie Gifford IntePairCorr
  0.98TSMMX Tiaa-cref Small/mid-capPairCorr
  0.88LIIAX Columbia Porate IncomePairCorr
  0.99IEYAX Ivy Energy FundPairCorr
  0.68NCGXX North Capital FundsPairCorr
  0.98ADOIX Acm Dynamic OpportunityPairCorr
  0.97RLIAX Invesco Income AllocationPairCorr
  0.69CLMAX Columbia MortgagePairCorr
  0.98CBAIX Calvert Balanced PorPairCorr
  0.99ABSTX Allianzgi Best StylesPairCorr
  0.96HMJCX Hartford Municipal ShortPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Texas Mutual Fund performing well and Texas Fund 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 Texas Fund'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BIGTX  0.63  0.10  0.06  0.28  0.65 
(0.69)
 1.34 
(1.29)
 4.40 
EEIFX  0.52  0.03 (0.01) 0.17  0.52 
(0.61)
 1.26 
(0.93)
 3.94 
MVEIX  0.81  0.04  0.04  0.18  0.72 
(0.95)
 1.95 
(1.27)
 6.08 
HEQFX  0.73  0.05  0.04  0.19  0.70 
(0.91)
 1.97 
(1.44)
 5.00 
SCBPX  0.37  0.06  0.00  0.24  0.24 
(0.40)
 1.20 
(0.79)
 2.79 
MMEAX  0.98  0.17  0.15  0.29  0.87 
(1.12)
 2.58 
(1.77)
 6.04 
RIDCX  0.32  0.08 (0.01) 0.34  0.00 
(0.37)
 0.88 
(0.56)
 2.21 
SAMHX  0.17  0.05 (0.29) 0.50  0.00 
(0.28)
 0.65 
(0.25)
 1.05 
RYVIX  1.52  0.10  0.02  0.31  1.68 
(1.69)
 3.50 
(3.10)
 8.56 
INFCX  0.71  0.11  0.01  0.62  0.72 
(0.76)
 1.52 
(1.37)
 5.25 

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