Infrastructure Fund Correlations

IFAIX Fund

USD 24.48 0.08 0.33%

The current 90-days correlation between Infrastructure Fund and Dividend Opportunities Fund is 0.01 (i.e., Significant diversification). The correlation of Infrastructure Fund 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.

Infrastructure Fund Correlation With Market

Poor diversification

The correlation between Infrastructure Fund Institutio and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Infrastructure Fund Institutio and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Infrastructure Fund Institutional. 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 Infrastructure Mutual Fund

0.94	SRUAX	Spectrum Fund Adviser	Pair Corr
0.88	SRUIX	Spectrum Fund Instit	Pair Corr
0.95	QNTAX	Quantex Fund Adviser	Pair Corr
0.95	QNTIX	Quantex Fund Institu	Pair Corr
1.0	IFAAX	Infrastructure Fund	Pair Corr
0.98	BLNIX	Balanced Fund Instit	Pair Corr
0.97	BLNAX	Balanced Fund Adviser	Pair Corr
0.97	FLBDX	Total Return Bond	Pair Corr
0.95	FLCGX	Quantex Fund Retail	Pair Corr
0.95	FLDOX	Dividend Opportunities	Pair Corr
0.89	FLDGX	Dynamic Growth	Pair Corr
0.92	FLDFX	Balanced Fund Retail	Pair Corr
0.94	FLFGX	Global Opportunities	Pair Corr
0.9	FLMIX	Muirfield Fund Insti	Pair Corr
0.95	FLMFX	Muirfield Fund Retail	Pair Corr
0.95	FLMAX	Muirfield Fund Adviser	Pair Corr
1.0	FLRUX	Infrastructure Fund	Pair Corr
0.94	FLSPX	Spectrum Fund Retail	Pair Corr
0.9	DVOIX	Dividend Opportunities	Pair Corr
0.99	DVOAX	Dividend Opportunities	Pair Corr
0.95	BNDAX	Total Return Bond	Pair Corr
0.95	BNDIX	Total Return Bond	Pair Corr
0.89	GBPAX	Global Opportunities	Pair Corr
0.84	GBPIX	Global Opportunities	Pair Corr
0.95	DYGIX	Dynamic Growth	Pair Corr
0.95	DYGAX	Dynamic Growth	Pair Corr
0.99	FASIX	Fidelity Asset Manager	Pair Corr
0.99	FTIWX	Fidelity Asset Manager	Pair Corr
0.96	FTDWX	Fidelity Asset Manager	Pair Corr
0.96	FTAWX	Fidelity Asset Manager	Pair Corr
0.99	FIKVX	Fidelity Asset Manager	Pair Corr
0.99	FTCWX	Fidelity Asset Manager	Pair Corr
0.99	VASIX	Vanguard Lifestrategy	Pair Corr
0.99	PFIPX	Strategic Asset Mana	Pair Corr
0.86	SMPSX	Semiconductor Ultrasector	Pair Corr
0.86	SMPIX	Semiconductor Ultrasector	Pair Corr
0.81	RSNRX	Victory Global Natural	Pair Corr
0.81	RSNYX	Victory Global Natural	Pair Corr
0.8	RGNCX	Victory Global Natural	Pair Corr

Moving against Infrastructure Mutual Fund

0.61	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.6	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.59	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.59	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.59	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	FLDOX	WSBFX	WELNX	BVAOX	LPDAX	ASQIX	FTGWX	JNVSX	AMIDX
FLDOX		0.94	0.96	-0.23	0.98	0.22	0.94	-0.47	0.94	FLDOX
WSBFX	0.94		0.93	-0.27	0.89	0.22	0.88	-0.56	0.95	WSBFX
WELNX	0.96	0.93		-0.35	0.94	0.12	0.93	-0.55	0.94	WELNX
BVAOX	-0.23	-0.27	-0.35		-0.16	0.7	-0.3	0.86	-0.24	BVAOX
LPDAX	0.98	0.89	0.94	-0.16		0.28	0.93	-0.38	0.88	LPDAX
ASQIX	0.22	0.22	0.12	0.7	0.28		0.07	0.48	0.17	ASQIX
FTGWX	0.94	0.88	0.93	-0.3	0.93	0.07		-0.5	0.92	FTGWX
JNVSX	-0.47	-0.56	-0.55	0.86	-0.38	0.48	-0.5		-0.52	JNVSX
AMIDX	0.94	0.95	0.94	-0.24	0.88	0.17	0.92	-0.52		AMIDX
	FLDOX	WSBFX	WELNX	BVAOX	LPDAX	ASQIX	FTGWX	JNVSX	AMIDX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

LPDAX	+ 0.98	FLDOX
WELNX	+ 0.96	FLDOX
AMIDX	+ 0.95	WSBFX
WSBFX	+ 0.94	FLDOX
FTGWX	+ 0.94	FLDOX
AMIDX	+ 0.94	FLDOX

High negative correlations

JNVSX	- 0.56	WSBFX
JNVSX	- 0.55	WELNX
AMIDX	- 0.52	JNVSX
JNVSX	- 0.5	FTGWX
JNVSX	- 0.47	FLDOX
JNVSX	- 0.38	LPDAX

Risk-Adjusted Indicators

There is a big difference between Infrastructure Mutual Fund performing well and Infrastructure Fund 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 Infrastructure Fund'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
FLDOX	0.31	0.03	0.02	9.91	0.37	(0.32)	0.69	(0.53)	2.33
WSBFX	0.34	0.04	0.07	0.09	0.33	(0.38)	0.85	(0.56)	2.39
WELNX	0.72	0.12	0.08	(4.32)	1.01	(0.75)	1.53	(1.61)	5.38
BVAOX	0.85	(0.12)	0.00	(0.07)	0.00	0.00	1.61	(1.81)	6.28
LPDAX	0.58	0.03	0.01	11.35	0.90	(0.53)	1.14	(1.29)	4.85
ASQIX	0.89	(0.04)	0.00	(0.01)	0.00	0.00	2.09	(1.81)	6.83
FTGWX	0.38	0.04	0.04	1.59	0.54	(0.38)	0.76	(1.08)	2.52
JNVSX	0.71	(0.30)	0.00	(0.22)	0.00	0.00	1.12	(1.53)	12.16
AMIDX	0.64	0.08	0.08	0.13	0.77	(0.67)	1.35	(1.10)	4.90

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