Concorde Wealth Correlations

CONWX Fund

USD 18.42 0.02 0.11%

The current 90-days correlation between Concorde Wealth Mana and Dgi Balanced I is 0.73 (i.e., Poor diversification). The correlation of Concorde Wealth 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.

Concorde Wealth Correlation With Market

Poor diversification

The correlation between Concorde Wealth Management and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Concorde Wealth Management 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 Concorde Wealth Management. 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 housing.

Moving together with Concorde Mutual Fund

0.85	FBONX	American Funds American	Pair Corr
0.85	FBAFX	American Funds American	Pair Corr
0.86	ABALX	American Balanced	Pair Corr
0.85	BALCX	American Balanced	Pair Corr
0.85	BALFX	American Balanced	Pair Corr
0.85	RLBCX	American Balanced	Pair Corr
0.85	RLBBX	American Balanced	Pair Corr
0.85	CLBAX	American Balanced	Pair Corr
0.85	CLBEX	American Balanced	Pair Corr
0.85	RLBFX	American Balanced	Pair Corr
0.79	PFN	Pimco Income Strategy	Pair Corr
0.87	CIF	Mfs Intermediate High	Pair Corr
0.62	NXJ	Nuveen New Jersey	Pair Corr
0.88	PCF	Putnam High Income	Pair Corr
0.9	SCBPX	Strategic Asset Mana	Pair Corr
0.91	QCELX	Aqr Large Cap	Pair Corr
0.9	IAGIX	Voya Solution Moderately	Pair Corr
0.87	FAQTX	American Funds 2035	Pair Corr
0.81	BCIAX	California Intermediate-ter	Pair Corr
0.87	RNGHX	New Economy Fund	Pair Corr
0.82	SDHAX	Lord Abbett Short	Pair Corr
0.72	CENAX	American Funds Lege	Pair Corr
0.91	PSBJX	Smallcap Fund Fka	Pair Corr
0.8	DLEUX	Doubleline Shiller	Pair Corr
0.61	MWLNX	Metropolitan West Low	Pair Corr
0.89	MMEAX	Victory Integrity	Pair Corr
0.91	MMMSX	Victory Integrity	Pair Corr
0.93	JASOX	New Opportunities	Pair Corr
0.87	RNGFX	New Economy Fund	Pair Corr
0.75	PLUDX	Pacific Funds Ultra	Pair Corr
0.89	BTEUX	Baron Select Funds	Pair Corr
0.89	CGFCX	Growth Fund	Pair Corr

Related Correlations Analysis

	CONWX	DGIIX	GTHCX	NMANX	WEBAX	LSSNX	COAGX	XVBFX	SLANX	ATCAX
CONWX		0.88	0.26	0.92	0.86	0.91	0.86	0.59	0.91	0.76	CONWX
DGIIX	0.88		0.42	0.98	0.99	0.98	0.98	0.79	0.88	0.95	DGIIX
GTHCX	0.26	0.42		0.34	0.47	0.37	0.31	0.71	0.32	0.37	GTHCX
NMANX	0.92	0.98	0.34		0.96	0.99	0.96	0.71	0.92	0.91	NMANX
WEBAX	0.86	0.99	0.47	0.96		0.97	0.96	0.83	0.86	0.95	WEBAX
LSSNX	0.91	0.98	0.37	0.99	0.97		0.97	0.71	0.89	0.92	LSSNX
COAGX	0.86	0.98	0.31	0.96	0.96	0.97		0.71	0.83	0.94	COAGX
XVBFX	0.59	0.79	0.71	0.71	0.83	0.71	0.71		0.67	0.78	XVBFX
SLANX	0.91	0.88	0.32	0.92	0.86	0.89	0.83	0.67		0.76	SLANX
ATCAX	0.76	0.95	0.37	0.91	0.95	0.92	0.94	0.78	0.76		ATCAX
	CONWX	DGIIX	GTHCX	NMANX	WEBAX	LSSNX	COAGX	XVBFX	SLANX	ATCAX

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Risk-Adjusted Indicators

There is a big difference between Concorde Mutual Fund performing well and Concorde Wealth 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 Concorde Wealth'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
CONWX	0.36	0.01	(0.16)	0.16	0.35	(0.42)	0.91	(0.71)	2.34
DGIIX	0.35	0.07	0.00	0.27	0.23	(0.41)	1.11	(0.65)	2.56
GTHCX	0.77	(0.11)	(0.12)	(0.01)	1.12	(0.69)	1.54	(1.81)	4.20
NMANX	0.88	0.21	0.19	0.35	0.72	(1.07)	2.32	(1.51)	5.46
WEBAX	0.37	0.01	(0.08)	0.15	0.42	(0.42)	1.11	(0.83)	2.57
LSSNX	0.84	0.10	0.09	0.23	0.79	(0.91)	2.04	(1.50)	5.95
COAGX	0.84	0.24	0.22	0.38	0.53	(0.98)	1.98	(1.77)	5.42
XVBFX	0.23	0.00	(0.41)	0.11	0.22	(0.26)	0.44	(0.43)	1.19
SLANX	0.80	0.13	0.05	0.55	0.73	(0.89)	2.26	(1.59)	4.76
ATCAX	0.19	0.06	(0.14)	0.53	0.00	(0.24)	0.45	(0.33)	1.61

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Concorde Wealth Correlations

Concorde Wealth Correlation With Market

Poor diversification

Moving together with Concorde Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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