Madison Mid Correlations

Mutual Funds USA . 
Fund . Madison Mid Cap
MERAX Fund  USD 15.10  0.05  0.33%   
The current 90-days correlation between Madison Mid Cap and Madison Mid Cap is 1.0 (i.e., No risk reduction). The correlation of Madison Mid 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 Mid Correlation With Market

Very poor diversification

The correlation between Madison Mid Cap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Mid Cap 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 Mid Cap. 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

  1.0MMCRX Madison Mid CapPairCorr
  0.88MMDAX Madison Moderate AllPairCorr
  0.95MNVAX Madison InvestorsPairCorr
  0.95MNVRX Madison InvestorsPairCorr
  0.9BVAOX Broadview OpportunityPairCorr
  0.88MADAX Madison Dividend IncomePairCorr
  0.87MADRX Madison FundsPairCorr
  0.89MAGSX Madison AggressivePairCorr
  0.88BHBFX Madison Dividend IncomePairCorr
  0.9MSCIX Madison Small CapPairCorr
  0.9MSCRX Madison Small CapPairCorr
  0.9MASMX Madison Small CapPairCorr
  0.84MBLAX Madison DiversifiedPairCorr
  0.84MCNAX Madison ConservativePairCorr
  1.0MDCIX Madison Mid CapPairCorr
  0.87MDMIX Madison Dividend IncomePairCorr
  0.83MENAX Madison Ered CallPairCorr
  0.84MENIX Madison FundsPairCorr
  0.83MENRX Madison Ered CallPairCorr
  0.84MENYX Madison Ered CallPairCorr
  0.95MINVX Madison InvestorsPairCorr
  0.95MIVIX Madison InvestorsPairCorr
  0.79GTFHX Madison Tax FreePairCorr
  1.0GTSGX Madison Mid CapPairCorr
  0.9VIMAX Vanguard Mid CapPairCorr
  0.9VIMSX Vanguard Mid CapPairCorr
  0.9VMCPX Vanguard Mid CapPairCorr
  0.9VMCIX Vanguard Mid CapPairCorr
  0.88VEXAX Vanguard Extended MarketPairCorr
  0.88VEMPX Vanguard Extended MarketPairCorr
  0.88VIEIX Vanguard Extended MarketPairCorr
  0.86VSEMX Vanguard Extended MarketPairCorr
  0.88VEXMX Vanguard Extended MarketPairCorr

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 Mid 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 Mid'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 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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