Madison Dividend Correlations

MADAX Fund

USD 26.85 0.30 1.13%

The current 90-days correlation between Madison Dividend Income and Qs Global Equity is -0.02 (i.e., Good diversification). The correlation of Madison Dividend 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.

Madison Dividend Correlation With Market

Good diversification

The correlation between Madison Dividend Income and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Dividend Income 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 Madison Dividend Income. 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 nation.

Moving together with Madison Mutual Fund

0.64	MMCRX	Madison Mid Cap	Pair Corr
0.66	MNVAX	Madison Investors	Pair Corr
0.81	MADRX	Madison Funds	Pair Corr
0.81	BHBFX	Madison Dividend Income	Pair Corr
0.71	MBLAX	Madison Diversified	Pair Corr
0.64	MDCIX	Madison Mid Cap	Pair Corr
0.82	MDMIX	Madison Dividend Income	Pair Corr
0.81	MENAX	Madison Ered Call	Pair Corr
0.8	MENIX	Madison Funds	Pair Corr
0.8	MENRX	Madison Ered Call	Pair Corr
0.74	MENYX	Madison Ered Call	Pair Corr
0.76	MERAX	Madison Mid Cap	Pair Corr
0.64	GTSGX	Madison Mid Cap	Pair Corr

Moving against Madison Mutual Fund

0.44	GAAKX	Gmo Alternative Allo	Pair Corr
0.44	GAAGX	Gmo Alternative Allo	Pair Corr
0.32	GTFHX	Madison Tax Free	Pair Corr

Related Correlations Analysis

	SMYIX	CMACX	GGRYX	CBSYX	GMADX	JAAIX	DFELX	DHGAX
SMYIX		0.96	0.97	0.94	0.97	0.91	0.99	0.86	SMYIX
CMACX	0.96		0.99	0.98	0.98	0.94	0.97	0.91	CMACX
GGRYX	0.97	0.99		0.98	0.97	0.95	0.99	0.92	GGRYX
CBSYX	0.94	0.98	0.98		0.95	0.96	0.97	0.95	CBSYX
GMADX	0.97	0.98	0.97	0.95		0.89	0.96	0.86	GMADX
JAAIX	0.91	0.94	0.95	0.96	0.89		0.93	0.92	JAAIX
DFELX	0.99	0.97	0.99	0.97	0.96	0.93		0.88	DFELX
DHGAX	0.86	0.91	0.92	0.95	0.86	0.92	0.88		DHGAX
	SMYIX	CMACX	GGRYX	CBSYX	GMADX	JAAIX	DFELX	DHGAX

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Dividend 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 Madison Dividend'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
SMYIX	0.46	0.01	(0.02)	0.12	0.50	(0.52)	1.24	(0.66)	3.71
CMACX	0.32	(0.02)	(0.14)	0.09	0.32	(0.35)	0.68	(0.55)	2.64
GGRYX	0.38	(0.01)	(0.09)	0.10	0.41	(0.42)	0.83	(0.68)	3.22
CBSYX	0.32	0.02	(0.10)	0.15	0.24	(0.36)	0.87	(0.53)	2.27
GMADX	0.47	(0.01)	(0.04)	0.10	0.52	(0.52)	1.04	(0.81)	4.34
JAAIX	0.14	0.03	(0.42)	6.32	0.00	(0.18)	0.42	(0.24)	1.14
DFELX	0.49	(0.01)	(0.03)	0.10	0.63	(0.52)	1.24	(0.93)	4.31
DHGAX	0.13	0.02	(0.62)	(15.36)	0.00	(0.15)	0.29	(0.25)	0.74

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