Mh Elite Correlations

Mutual Funds . USA . 
Fund . Mh Elite Fund
MHEFX Fund  USD 9.02  0.08  0.89%   
The current 90-days correlation between Mh Elite Fund and Pace Large Growth is 0.28 (i.e., Modest diversification). The correlation of Mh Elite 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.

Mh Elite Correlation With Market

Weak diversification

The correlation between Mh Elite Fund and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mh Elite Fund 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 Mh Elite Fund. 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 census.

Moving together with MHEFX Mutual Fund

  0.97MHEIX Mh Elite IncomePairCorr
  0.97MHELX Mh Elite SmallPairCorr
  0.98MHESX Mh Elite SelectPairCorr
  0.98CGRGX American Funds GrowthPairCorr
  0.98FPGGX American Funds GrowthPairCorr
  0.98FGPGX American Funds GrowthPairCorr
  0.97MUTHX Franklin Mutual SharesPairCorr
  0.97TESRX Franklin Mutual SharesPairCorr
  0.97FMSHX Franklin Mutual SharesPairCorr
  0.98GWPCX American Funds GrowthPairCorr
  0.98GWPFX American Funds GrowthPairCorr
  0.98GWPAX American Funds GrowthPairCorr
  0.98CGQGX American Funds GrowthPairCorr
  0.96DFIEX International E EquityPairCorr
  0.96PFANX Pimco Capital SecPairCorr
  0.98HASAX Horizon Active AssetPairCorr
  0.75RBEXX American Funds GovernmentPairCorr
  0.74FKSTX Nuveen Flagship KansasPairCorr
  0.73CFNTX California Tax FreePairCorr
  0.97LFRIX Floating RatePairCorr
  0.98EFCNX Emerald InsightsPairCorr
  0.96NPSAX Nuveen Preferred SecPairCorr
  0.98JATUX Jpmorgan SmartretirementPairCorr
  0.93FNPIX Financials UltrasectorPairCorr
  0.98PADEX Putnam Dynamic AssetPairCorr
  0.79MUA Blackrock MuniassetsPairCorr
  0.96DLDRX Dreyfus Natural ResourcesPairCorr
  0.7JADBX John Hancock VariablePairCorr
  0.98TBLLX T Rowe PricePairCorr
  0.72FRKSX Nuveen Kansas MunicipalPairCorr
  0.98NREMX Neuberger Berman EmergingPairCorr
  0.89RGIAX Global InfrastructurePairCorr
  0.76PGTSX Prudential Global TotalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between MHEFX Mutual Fund performing well and Mh Elite 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 Mh Elite'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.

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