Mh Elite Correlations

Mutual Funds . USA . 
Fund . Mh Elite Small
MHELX Fund  USD 8.11  0.13  1.63%   
The current 90-days correlation between Mh Elite Small and Mh Elite Fund is 0.04 (i.e., Significant 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

Good diversification

The correlation between Mh Elite Small and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mh Elite Small 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 Small. 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 bureau of economic analysis.

Moving together with MHELX Mutual Fund

  0.97MHEFX Mh Elite FundPairCorr
  0.96MHEIX Mh Elite IncomePairCorr
  0.97MHESX 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
  0.98FTYPX Fidelity Freedom IndexPairCorr
  0.98FFBTX Fidelity Freedom BlendPairCorr
  0.75GAAVX Gmo Alternative AlloPairCorr
  0.96GCAVX Gmo Small CapPairCorr
  0.97GQLOX Gmo Quality FundPairCorr
  0.97GHVIX Gmo High YieldPairCorr
  0.98GMCQX Gmo Equity AllocationPairCorr
  0.98AACPX American Century OnePairCorr
  0.96FISMX Fidelity InternationalPairCorr
  0.97XAGDX Alpine Global DynamicPairCorr
  0.97MBXFX Catalystmillburn HedgePairCorr
  0.94PHYSX Pia High YieldPairCorr
  0.82LUBIX Thrivent IncomePairCorr
  0.98BSMIX Blackrock Smallmid CapPairCorr
  0.74GLEAX Goldman Sachs MlpPairCorr
  0.96BVSIX Ff Baywd FdPairCorr
  0.98PZHEX T Rowe PricePairCorr
  0.97FERGX Fidelity Sai EmergingPairCorr
  0.98AAAGX Thrivent Large CapPairCorr
  0.97NWALX Nationwide Bny MellonPairCorr
  0.92MAUKX Pioneer Multi AssetPairCorr
  0.9DCARX Dfa California MunicipalPairCorr
  0.98AFDRX Sustainable EquityPairCorr
  0.95BICPX Blackrock ConservativePairCorr

Moving against MHELX Mutual Fund

  0.34GABFX Gmo Asset AllocationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between MHELX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MHEFX  0.49  0.19  0.10  0.74  0.00 
(1.03)
 1.04 
(0.56)
 5.99 
MHEIX  0.15  0.06 (0.21) 2.20  0.00 
(0.29)
 0.39 
(0.19)
 1.97 
MHELX  0.72  0.26  0.11 (1.57) 0.59 
(0.90)
 2.13 
(1.54)
 5.70 
MHESX  0.47  0.19  0.15  0.73  0.00 
(0.82)
 1.21 
(0.70)
 5.84 
FMAQX  0.15 (0.01)(0.50)(0.13) 0.18 
(0.21)
 0.30 
(0.39)
 1.09 
AMKIX  0.54  0.21  0.19  0.59  0.00 
(0.65)
 1.73 
(1.07)
 4.10 
APGRX  0.81  0.11  0.11  0.24  0.64 
(0.98)
 2.34 
(1.36)
 5.51 
WHIYX  0.21  0.07 (0.20) 0.56  0.00 
(0.32)
 0.68 
(0.18)
 1.19 
MKVHX  0.48  0.15  0.10  0.55  0.20 
(0.57)
 1.15 
(1.00)
 2.81 
BLDRX  0.21  0.04 (0.24) 0.37  0.00 
(0.29)
 0.53 
(0.32)
 1.18 

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