Cboe Vest Correlations

KNGCX Fund

USD 11.54 0.03 0.26%

The current 90-days correlation between Cboe Vest Sp and Vanguard Health Care is 0.66 (i.e., Poor diversification). The correlation of Cboe Vest 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.

Cboe Vest Correlation With Market

Very poor diversification

The correlation between Cboe Vest Sp and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cboe Vest Sp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Cboe Vest Sp. 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 main economic indicators.

Moving together with Cboe Mutual Fund

0.92	ENGRX	Vest Large Cap	Pair Corr
0.89	ENGLX	Cboe Vest Sp	Pair Corr
0.89	ENGIX	Cboe Vest Sp	Pair Corr
0.89	ENGCX	Cboe Vest Sp	Pair Corr
0.89	ENGAX	Cboe Vest Sp	Pair Corr
0.88	ENGYX	Cboe Vest Sp	Pair Corr
0.82	BTCLX	Cboe Vest Bitcoin	Pair Corr
0.82	BTCYX	Cboe Vest Bitcoin	Pair Corr
0.82	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.82	BTCRX	Vest Bitcoin Strategy	Pair Corr
0.89	BUCGX	Cboe Vest Large	Pair Corr
0.89	BUIGX	Cboe Vest Sp	Pair Corr
0.93	BUMGX	Cboe Vest Sp	Pair Corr
0.89	BUYGX	Cboe Vest Large	Pair Corr
0.9	KNGRX	Vest Sp500 Div	Pair Corr
1.0	KNGYX	Cboe Vest Sp	Pair Corr
1.0	KNGAX	Cboe Vest Sp	Pair Corr
1.0	KNGIX	Cboe Vest Sp	Pair Corr
0.7	KNGLX	Cboe Vest Sp	Pair Corr
0.87	JEPAX	Jpmorgan Research Equity	Pair Corr
0.87	JEPCX	Jpmorgan Research Equity	Pair Corr
0.92	JEPIX	Jpmorgan Equity Premium	Pair Corr
0.92	GSPKX	Goldman Sachs Equity	Pair Corr
0.69	GVIRX	Goldman Sachs Equity	Pair Corr
0.89	GSPAX	Goldman Sachs Equity	Pair Corr
0.69	GSPQX	Goldman Sachs Equity	Pair Corr
0.92	GSFPX	Goldman Sachs Equity	Pair Corr
0.69	GIDWX	Goldman Sachs Equity	Pair Corr
0.93	BMCIX	Blackrock High Equity	Pair Corr
0.69	BTMPX	Ishares Msci Eafe	Pair Corr
0.69	BTMKX	Blackrock International	Pair Corr
0.69	MDIIX	Blackrock Intern Index	Pair Corr

Related Correlations Analysis

	VGHCX	HGHYX	HHCZX	PRHSX	FACTX	LYFAX	ECHSX
VGHCX		0.93	0.16	0.91	0.91	0.91	0.97	VGHCX
HGHYX	0.93		-0.05	0.9	0.91	0.86	0.93	HGHYX
HHCZX	0.16	-0.05		0.27	0.29	0.26	0.16	HHCZX
PRHSX	0.91	0.9	0.27		0.95	0.96	0.88	PRHSX
FACTX	0.91	0.91	0.29	0.95		0.94	0.89	FACTX
LYFAX	0.91	0.86	0.26	0.96	0.94		0.88	LYFAX
ECHSX	0.97	0.93	0.16	0.88	0.89	0.88		ECHSX
	VGHCX	HGHYX	HHCZX	PRHSX	FACTX	LYFAX	ECHSX

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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

ECHSX	+ 0.97	VGHCX
LYFAX	+ 0.96	PRHSX
FACTX	+ 0.95	PRHSX
LYFAX	+ 0.94	FACTX
HGHYX	+ 0.93	VGHCX
ECHSX	+ 0.93	HGHYX

High negative correlations

HHCZX

- 0.05

HGHYX

Risk-Adjusted Indicators

There is a big difference between Cboe Mutual Fund performing well and Cboe Vest 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 Cboe Vest'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
VGHCX	0.92	(0.07)	(0.07)	0.05	1.30	(0.91)	1.73	(2.02)	5.23
HGHYX	0.90	(0.10)	(0.09)	0.00	1.42	(0.79)	1.78	(2.37)	5.38
HHCZX	0.18	0.05	(0.26)	0.47	0.00	(0.24)	0.43	(0.35)	1.03
PRHSX	0.91	(0.06)	(0.06)	0.06	1.30	(0.91)	1.60	(2.37)	5.95
FACTX	0.79	(0.06)	(0.07)	0.06	1.23	(0.75)	1.62	(1.55)	5.38
LYFAX	0.81	(0.15)	0.00	(0.05)	0.00	0.00	1.61	(1.91)	4.77
ECHSX	0.88	(0.08)	(0.09)	0.03	1.20	(0.88)	1.72	(2.19)	4.86

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