Ariel Appreciation Correlations

Mutual Funds . USA . 
Fund . Ariel Appreciation Fund
CAAIX Fund  USD 39.78  0.09  0.23%   
The current 90-days correlation between Ariel Appreciation and Ariel Fund Institutional is 0.98 (i.e., Almost no diversification). The correlation of Ariel Appreciation 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.

Ariel Appreciation Correlation With Market

Very poor diversification

The correlation between Ariel Appreciation Fund and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ariel Appreciation 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 Ariel Appreciation 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 gross domestic product.

Moving together with Ariel Mutual Fund

  1.0ARAIX Ariel Fund InstitutionalPairCorr
  0.99ARFFX Ariel Focus FundPairCorr
  1.0ARGFX Ariel Fund InvestorPairCorr
  0.99AFOYX Ariel Focus FundPairCorr
  0.96AGLYX Ariel GlobalPairCorr
  0.96AGLOX Ariel GlobalPairCorr
  0.92AINTX Ariel InternationalPairCorr
  0.92AINIX Ariel InternationalPairCorr
  1.0CAAPX Ariel AppreciationPairCorr
  0.98VMVAX Vanguard Mid CapPairCorr
  0.99JVMAX John Hancock DisciplinedPairCorr
  0.99JVMIX John Hancock DisciplinedPairCorr
  0.98VMVIX Vanguard Mid CapPairCorr
  0.98JMVZX Jpmorgan Mid CapPairCorr
  0.98JMVRX Jpmorgan Mid CapPairCorr
  0.98JMVQX Jpmorgan Mid CapPairCorr
  0.98JMVYX Jpmorgan Mid CapPairCorr
  0.98JMVPX Jpmorgan Mid CapPairCorr
  0.97VETAX Victory Sycamore EstPairCorr
  0.72PDI Pimco Dynamic IncomePairCorr
  0.93FTCAX Templeton Strained BondPairCorr
  0.95PDAIX Pinebridge Dynamic AssetPairCorr
  0.93PSDUX Pimco Short DurationPairCorr
  0.99RYFIX Financial ServicesPairCorr
  0.95MHEIX Mh Elite IncomePairCorr
  0.98WFOPX Wells Fargo OpportunityPairCorr
  0.97PTOAX Stocksplus Total ReturnPairCorr
  0.99RYRSX Russell 2000 2xPairCorr
  0.92PIIJX Diversified InternationalPairCorr
  0.97FEYIX Fidelity Asset ManagerPairCorr
  0.96PPUMX Largecap GrowthPairCorr

Moving against Ariel Mutual Fund

  0.76UIPIX Ultrashort Mid CapPairCorr
  0.74USPSX Profunds UltrashortPairCorr
  0.74USPIX Profunds UltrashortPairCorr
  0.71TCTGX Transamerica CleartrackPairCorr
  0.71TCTJX Transamerica CleartrackPairCorr
  0.7TDKTX Cleartrack 2015 ClassPairCorr
  0.67TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Ariel Mutual Fund performing well and Ariel Appreciation 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 Ariel Appreciation'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
ARAIX  1.02  0.14  0.13  0.24  1.03 
(1.16)
 2.37 
(2.04)
 8.16 
ARFFX  0.72  0.13  0.11  0.28  0.66 
(0.86)
 1.93 
(1.29)
 5.56 
ARGFX  1.02  0.14  0.13  0.24  1.03 
(1.16)
 2.37 
(2.05)
 8.14 
AFOYX  0.73  0.13  0.12  0.28  0.66 
(0.87)
 2.00 
(1.29)
 5.55 
AGLYX  0.48  0.10  0.04  0.32  0.34 
(0.55)
 1.10 
(1.10)
 3.10 
AGLOX  0.49  0.09  0.04  0.31  0.35 
(0.58)
 1.20 
(1.11)
 3.09 
AINTX  0.50  0.14  0.07  0.68  0.26 
(0.59)
 1.35 
(0.96)
 3.26 
AINIX  0.51  0.14  0.07  0.68  0.24 
(0.59)
 1.33 
(0.93)
 3.32 
CAAPX  1.02  0.12  0.12  0.23  1.02 
(1.18)
 2.36 
(2.09)
 8.52 
CAAIX  1.02  0.12  0.12  0.23  1.02 
(1.19)
 2.35 
(2.09)
 8.52 

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