Madison Funds Correlations

Mutual Funds USA . 
Fund . Madison Funds
MENIX Fund  USD 9.36  0.01  0.11%   
The current 90-days correlation between Madison Funds and Madison Mid Cap is 0.82 (i.e., Very poor diversification). The correlation of Madison Funds 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 Funds Correlation With Market

Poor diversification

The correlation between Madison Funds and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Funds 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 Funds . 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 Madison Mutual Fund

  0.84MMCRX Madison Mid CapPairCorr
  0.97MMDAX Madison Moderate AllPairCorr
  0.92MNVAX Madison InvestorsPairCorr
  0.93MNVRX Madison InvestorsPairCorr
  0.95BVAOX Broadview OpportunityPairCorr
  0.98MADAX Madison Dividend IncomePairCorr
  0.98MADRX Madison FundsPairCorr
  0.98MAGSX Madison AggressivePairCorr
  0.98BHBFX Madison Dividend IncomePairCorr
  0.95MSCIX Madison Small CapPairCorr
  0.95MSCRX Madison Small CapPairCorr
  0.95MASMX Madison Small CapPairCorr
  0.98MBLAX Madison DiversifiedPairCorr
  0.63MBOIX Madison Core BondPairCorr
  0.64MBORX Madison FundsPairCorr
  0.63MBOYX Madison E BondPairCorr
  0.61MBOAX Madison E BondPairCorr
  0.96MCNAX Madison ConservativePairCorr
  0.84MDCIX Madison Mid CapPairCorr
  0.98MDMIX Madison Dividend IncomePairCorr
  1.0MENAX Madison Ered CallPairCorr
  1.0MENRX Madison Ered CallPairCorr
  1.0MENYX Madison Ered CallPairCorr
  0.84MERAX Madison Mid CapPairCorr
  0.67MIIRX Madison FundsPairCorr
  0.68MIIBX Madison High QualityPairCorr
  0.92MINVX Madison InvestorsPairCorr
  0.92MIVIX Madison InvestorsPairCorr
  0.88GTFHX Madison Tax FreePairCorr
  0.84GTSGX Madison Mid CapPairCorr
  0.95JEPAX Jpmorgan Research EquityPairCorr
  0.95JEPCX Jpmorgan Research EquityPairCorr
  0.95JEPIX Jpmorgan Equity PremiumPairCorr
  0.98GSPKX Goldman Sachs EquityPairCorr
  0.98GVIRX Goldman Sachs EquityPairCorr
  0.98GSPAX Goldman Sachs EquityPairCorr
  0.98GSPQX Goldman Sachs EquityPairCorr
  0.98GSFPX Goldman Sachs EquityPairCorr
  0.98GIDWX Goldman Sachs EquityPairCorr

Moving against Madison Mutual Fund

  0.49GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Funds 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 Funds' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MMCRX  0.82 (0.01)(0.01) 0.12  0.92 
(0.90)
 2.17 
(1.96)
 5.86 
MMDAX  0.38  0.04 (0.03) 0.22  0.32 
(0.43)
 1.14 
(0.71)
 2.57 
MNVAX  0.69 (0.05)(0.06) 0.08  0.73 
(0.83)
 1.68 
(1.45)
 5.09 
MNVRX  0.69 (0.04)(0.06) 0.08  0.73 
(0.80)
 1.66 
(1.48)
 5.08 
BVAOX  0.90  0.02  0.03  0.15  0.96 
(0.97)
 2.18 
(1.98)
 7.01 
MADAX  0.58  0.02 (0.02) 0.16  0.55 
(0.64)
 1.61 
(1.28)
 3.62 
MADRX  0.58  0.03 (0.02) 0.17  0.55 
(0.62)
 1.61 
(1.20)
 3.62 
MAGSX  0.48  0.06  0.02  0.22  0.45 
(0.54)
 1.37 
(1.01)
 3.39 
BHBFX  0.58  0.02 (0.02) 0.16  0.56 
(0.62)
 1.61 
(1.24)
 3.70 
MSCIX  0.89  0.02  0.03  0.15  0.96 
(0.96)
 2.18 
(1.98)
 6.99 

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