Madison Ered Correlations

MENRX Fund

USD 9.58 0.01 0.10%

The current 90-days correlation between Madison Ered Call and Madison Mid Cap is -0.02 (i.e., Good diversification). The correlation of Madison Ered 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 Ered Correlation With Market

Poor diversification

The correlation between Madison Ered Call and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Ered Call 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 Ered Call. 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 metropolitan statistical area.

Moving together with Madison Mutual Fund

0.63	MMCRX	Madison Mid Cap	Pair Corr
0.97	MMDAX	Madison Moderate All	Pair Corr
0.74	MNVAX	Madison Investors	Pair Corr
0.74	MNVRX	Madison Investors	Pair Corr
0.94	BVAOX	Broadview Opportunity	Pair Corr
0.97	MADAX	Madison Dividend Income	Pair Corr
0.97	MADRX	Madison Funds	Pair Corr
0.74	MAGSX	Madison Aggressive	Pair Corr
0.74	BHBFX	Madison Dividend Income	Pair Corr
0.94	MSCIX	Madison Small Cap	Pair Corr
0.95	MSCRX	Madison Small Cap	Pair Corr
0.93	MASMX	Madison Small Cap	Pair Corr
0.98	MBLAX	Madison Diversified	Pair Corr
0.64	MBORX	Madison Funds	Pair Corr
0.63	MBOYX	Madison E Bond	Pair Corr
0.95	MCNAX	Madison Conservative	Pair Corr
0.84	MDCIX	Madison Mid Cap	Pair Corr
0.96	MDMIX	Madison Dividend Income	Pair Corr
0.98	MENAX	Madison Ered Call	Pair Corr
1.0	MENIX	Madison Funds	Pair Corr
1.0	MENYX	Madison Ered Call	Pair Corr
0.83	MERAX	Madison Mid Cap	Pair Corr
0.67	MIIRX	Madison Funds	Pair Corr
0.68	MIIBX	Madison High Quality	Pair Corr
0.74	MINVX	Madison Investors	Pair Corr
0.92	MIVIX	Madison Investors	Pair Corr
0.89	GTFHX	Madison Tax Free	Pair Corr
0.63	GTSGX	Madison Mid Cap	Pair Corr
0.94	JEPAX	Jpmorgan Research Equity	Pair Corr
0.94	JEPCX	Jpmorgan Research Equity	Pair Corr
0.95	JEPIX	Jpmorgan Equity Premium	Pair Corr
0.72	GSPKX	Goldman Sachs Equity	Pair Corr
0.72	GVIRX	Goldman Sachs Equity	Pair Corr
0.72	GSPAX	Goldman Sachs Equity	Pair Corr
0.72	GSPQX	Goldman Sachs Equity	Pair Corr
0.72	GSFPX	Goldman Sachs Equity	Pair Corr
0.72	GIDWX	Goldman Sachs Equity	Pair Corr

Moving against Madison Mutual Fund

0.49

GPMFX

Guidepath Managed Futures

Pair Corr

Related Correlations Analysis

	MMCRX	MMDAX	MNVAX	MNVRX	BVAOX	MADAX	MADRX	MAGSX	BHBFX	MSCIX
MMCRX		0.67	0.94	0.94	0.68	0.69	0.68	0.86	0.84	0.68	MMCRX
MMDAX	0.67		0.75	0.76	0.95	0.98	0.99	0.75	0.74	0.95	MMDAX
MNVAX	0.94	0.75		1.0	0.75	0.76	0.76	0.94	0.93	0.75	MNVAX
MNVRX	0.94	0.76	1.0		0.75	0.76	0.76	0.94	0.93	0.75	MNVRX
BVAOX	0.68	0.95	0.75	0.75		0.95	0.95	0.74	0.74	1.0	BVAOX
MADAX	0.69	0.98	0.76	0.76	0.95		1.0	0.77	0.77	0.95	MADAX
MADRX	0.68	0.99	0.76	0.76	0.95	1.0		0.77	0.77	0.95	MADRX
MAGSX	0.86	0.75	0.94	0.94	0.74	0.77	0.77		0.99	0.74	MAGSX
BHBFX	0.84	0.74	0.93	0.93	0.74	0.77	0.77	0.99		0.74	BHBFX
MSCIX	0.68	0.95	0.75	0.75	1.0	0.95	0.95	0.74	0.74		MSCIX
	MMCRX	MMDAX	MNVAX	MNVRX	BVAOX	MADAX	MADRX	MAGSX	BHBFX	MSCIX

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Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Ered 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 Ered'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
MMCRX	0.78	0.20	0.05	(1.37)	0.77	(0.91)	2.17	(1.42)	5.86
MMDAX	0.38	0.04	(0.03)	0.22	0.32	(0.43)	1.14	(0.71)	2.57
MNVAX	0.67	0.16	0.02	(1.67)	0.52	(0.83)	1.68	(1.25)	5.09
MNVRX	0.67	0.16	0.03	(1.73)	0.52	(0.80)	1.66	(1.27)	5.08
BVAOX	0.90	0.22	0.05	(0.79)	0.94	(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	0.45	0.20	0.09	(2.30)	0.16	(0.55)	1.37	(0.83)	3.39
BHBFX	0.53	0.18	0.05	(1.07)	0.32	(0.61)	1.61	(0.86)	3.70
MSCIX	0.89	0.22	0.05	(0.83)	0.95	(0.96)	2.18	(1.98)	6.99

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