The Fairholme Correlations

Mutual Funds . USA . 
Fund . The Fairholme Fund
FAIRX Fund  USD 32.55  0.23  0.70%   
The current 90-days correlation between The Fairholme and Pace Smallmedium Value is 0.78 (i.e., Poor diversification). The correlation of The Fairholme 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.

The Fairholme Correlation With Market

Poor diversification

The correlation between The Fairholme Fund and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Fairholme 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 The Fairholme 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 metropolitan statistical area.

Moving together with The Mutual Fund

  0.89FOCIX Fairholme FocusedPairCorr
  0.92GCEBX Goldman Sachs CleanPairCorr
  0.92GCEGX Goldman Sachs CleanPairCorr
  0.92GCEPX Goldman Sachs CleanPairCorr
  0.93GCEDX Goldman Sachs CleanPairCorr
  0.92GCEEX Goldman Sachs CleanPairCorr
  0.93GCEJX Goldman Sachs CleanPairCorr
  0.82DVRJX Mfs Global AlternativePairCorr
  0.79STBNX Sierra Tactical BondPairCorr
  0.78STBDX Sierra Tactical BondPairCorr
  0.91WFPDX Wells Fargo PremierPairCorr
  0.94TAHTX Transamerica High YieldPairCorr
  0.93PLMTX Principal Lifetime HybridPairCorr
  0.94PGWTX Putnam Focused EquityPairCorr
  0.92MGDIX Mainstay Moderate GrowthPairCorr
  0.77CEAMX Short Term BondPairCorr
  0.94NTBIX Navigator Tactical FixedPairCorr
  0.95ADNIX Amer Beacon Ark Steady GrowthPairCorr
  0.94AVCNX American Century EtfPairCorr
  0.92SPVZX Prudential Qma MidPairCorr
  0.72CTBRX Columbia Total ReturnPairCorr
  0.85IIF Morgan Stanley IndiaPairCorr
  0.94OARDX Oppenheimer RisingPairCorr
  0.92TRSJX T Rowe PricePairCorr
  0.89ELBIX Ashmore Emerging MarketsPairCorr
  0.92PBHAX Prudential High YieldPairCorr
  0.85QICNX Aqr International MultiPairCorr
  0.92VSVNX Vanguard Target RetiPairCorr
  0.92PADEX Putnam Dynamic AssetPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Fairholme 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 The Fairholme'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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