Free Market Correlations

Mutual Funds . USA . 
Fund . Free Market Equity
FMUEX Fund  USD 24.58  0.09  0.36%   
The current 90-days correlation between Free Market Equity and Vanguard Small Cap Value is 0.99 (i.e., No risk reduction). The correlation of Free Market 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.

Free Market Correlation With Market

Very poor diversification

The correlation between Free Market Equity and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Free Market Equity 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 Free Market Equity. 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 income.

Moving together with Free Mutual Fund

  0.86FMFIX Free Market FixedPairCorr
  0.96FMNEX Free Market InternationalPairCorr
  0.72VMVAX Vanguard Mid CapPairCorr
  0.99JVMAX John Hancock DisciplinedPairCorr
  0.74JVMIX John Hancock DisciplinedPairCorr
  0.72VMVIX 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
  0.73VETAX Victory Sycamore EstPairCorr
  0.7PDI Pimco Dynamic IncomePairCorr
  0.67FTCAX Templeton Strained BondPairCorr
  0.72SUTXX Schwab Treasury MoneyPairCorr
  0.74BCIAX California Intermediate-terPairCorr
  0.99QCELX Aqr Large CapPairCorr
  0.75AIENX Strategic Enhanced YieldPairCorr
  0.95CAPTX Canterbury PortfolioPairCorr
  0.99NDVAX Mfs New DiscoveryPairCorr
  1.0MMEAX Victory IntegrityPairCorr
  0.98SSDWX State Street TargetPairCorr
  0.73PXCCX Invesco Select RiskPairCorr
  0.99SWHCX Strategic Asset ManaPairCorr
  0.98MRMLX Massmutual RetiresmartPairCorr
  0.95BUFTX Buffalo DiscoveryPairCorr
  0.96SAMHX Ridgeworth Seix HighPairCorr
  0.91SDHAX Lord Abbett ShortPairCorr
  0.67DLEUX Doubleline ShillerPairCorr
  0.65ARDEX Amg River RoadPairCorr
  0.73PINCX Putnam IncomePairCorr

Moving against Free Mutual Fund

  0.74USPSX Profunds UltrashortPairCorr
  0.74USPIX Profunds UltrashortPairCorr
  0.74UIPIX Ultrashort Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Free Mutual Fund performing well and Free Market 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 Free Market'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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