Europac Gold Correlations

EPGFX Fund

USD 12.76 0.49 3.99%

The current 90-days correlation between Europac Gold and Europac International Value is 0.85 (i.e., Very poor diversification). The correlation of Europac Gold 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.

Europac Gold Correlation With Market

Very weak diversification

The correlation between Europac Gold Fund and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Europac Gold Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Europac Gold 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 census.

Moving together with Europac Mutual Fund

0.81	SGGDX	First Eagle Gold	Pair Corr
0.83	FEGIX	First Eagle Gold	Pair Corr
0.94	FEGOX	First Eagle Gold Potential Growth	Pair Corr
0.8	OPGSX	Oppenheimer Gold Spec Steady Growth	Pair Corr
0.94	OGMCX	Oppenheimer Gold Special Steady Growth	Pair Corr
0.79	FSAGX	Gold Portfolio Gold	Pair Corr
0.79	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.68	TOLIX	Deutsche Global Infr	Pair Corr
0.66	CUSOX	Columbia Ultra Short	Pair Corr
0.67	BAFHX	Brown Advisory	Pair Corr

Moving against Europac Mutual Fund

0.57	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.47	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.49	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.49	SPMPX	Invesco Steelpath Mlp	Pair Corr

Related Correlations Analysis

	EPIVX	EPDPX	EPASX	EPIBX	MTA
EPIVX		0.96	0.22	0.86	0.36	EPIVX
EPDPX	0.96		0.26	0.93	0.2	EPDPX
EPASX	0.22	0.26		0.17	0.04	EPASX
EPIBX	0.86	0.93	0.17		0.04	EPIBX
MTA	0.36	0.2	0.04	0.04		MTA
	EPIVX	EPDPX	EPASX	EPIBX	MTA

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Risk-Adjusted Indicators

There is a big difference between Europac Mutual Fund performing well and Europac Gold 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 Europac Gold'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
EPIVX	0.73	0.17	0.17	0.27	1.22	(0.71)	1.22	(1.33)	7.17
EPDPX	0.79	0.25	0.19	0.44	1.36	(0.79)	1.32	(1.18)	8.18
EPASX	0.72	0.06	0.16	(1.14)	1.06	(0.73)	1.37	(1.63)	5.32
EPIBX	0.26	0.08	0.51	1.44	0.11	(0.35)	0.70	(0.36)	2.12
MTA	2.60	0.29	0.12	0.24	2.58	(3.26)	6.69	(4.40)	17.40

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