Midas Fund Correlations

MIDSX Fund

USD 3.21 0.09 2.88%

The current 90-days correlation between Midas Fund Midas and International Portfolio International is 0.45 (i.e., Very weak diversification). The correlation of Midas Fund 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.

Midas Fund Correlation With Market

Average diversification

The correlation between Midas Fund Midas and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midas Fund Midas 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 Midas Fund Midas. 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 main economic indicators.

Moving together with Midas Mutual Fund

0.91	MISEX	Midas Special	Pair Corr
0.99	FEGOX	First Eagle Gold	Pair Corr
0.99	SGGDX	First Eagle Gold	Pair Corr
1.0	FEGIX	First Eagle Gold	Pair Corr
0.99	OPGSX	Oppenheimer Gold Spec	Pair Corr
1.0	OGMCX	Oppenheimer Gold Special	Pair Corr
1.0	FSAGX	Gold Portfolio Gold	Pair Corr
1.0	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.87	ERH	Allspring Utilities And	Pair Corr
0.85	WHIAX	Ivy High Income	Pair Corr
0.85	IVHIX	Ivy High Income	Pair Corr
0.84	IHIFX	Ivy High Income	Pair Corr
0.8	WRHIX	Ivy High Income	Pair Corr
0.84	WHIYX	Ivy High Income	Pair Corr
0.9	SHLMX	Stone Harbor Local	Pair Corr
0.89	OTCYX	Oppenheimer Capital	Pair Corr
0.93	AULDX	Ultra Fund R6	Pair Corr
0.91	EMGEX	Emerging Markets Growth	Pair Corr
0.95	RSBCX	Short Duration Bond	Pair Corr
0.94	CBLAX	Columbia Balanced	Pair Corr
0.85	EPASX	Ep Emerging Markets	Pair Corr
0.71	AFDVX	Applied Finance Explorer	Pair Corr
0.94	LEEIX	Blackrock Lifepath Esg	Pair Corr
0.94	TEQHX	Tiaa Cref Emerging	Pair Corr
0.92	MXBSX	Great West Lifetime	Pair Corr
0.94	SWPPX	Schwab Sp 500	Pair Corr
0.66	DFJSX	Japanese Small Pany Steady Growth	Pair Corr
0.95	AYBLX	Pioneer Classic Balanced	Pair Corr
0.74	RYAUX	Utilities Fund Class	Pair Corr
0.88	PAULX	T Rowe Price	Pair Corr
0.76	PJSQX	Prudential Jennison Small	Pair Corr
0.94	BBCPX	Bridge Builder E	Pair Corr
0.96	ARMZX	Western Asset Adjustable	Pair Corr
0.94	PNIIX	Bond Market Index	Pair Corr
0.94	ASTLX	Astor Long/short	Pair Corr
0.75	OIDAX	Oppenheimer International	Pair Corr

Related Correlations Analysis

	GTCIX	PRSLX	SXMAX	MECIX	VLPAX	TSWEX	BFRZ	CAMAX	GTAPX	QNTIX
GTCIX		0.95	0.94	0.41	0.58	0.82	0.91	0.0	0.89	0.92	GTCIX
PRSLX	0.95		0.93	0.27	0.66	0.92	0.98	0.0	0.88	0.99	PRSLX
SXMAX	0.94	0.93		0.48	0.59	0.86	0.86	0.0	0.89	0.87	SXMAX
MECIX	0.41	0.27	0.48		0.1	0.11	0.12	0.0	0.26	0.2	MECIX
VLPAX	0.58	0.66	0.59	0.1		0.64	0.69	0.0	0.68	0.66	VLPAX
TSWEX	0.82	0.92	0.86	0.11	0.64		0.88	0.0	0.76	0.88	TSWEX
BFRZ	0.91	0.98	0.86	0.12	0.69	0.88		0.0	0.88	0.99	BFRZ
CAMAX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CAMAX
GTAPX	0.89	0.88	0.89	0.26	0.68	0.76	0.88	0.0		0.86	GTAPX
QNTIX	0.92	0.99	0.87	0.2	0.66	0.88	0.99	0.0	0.86		QNTIX
	GTCIX	PRSLX	SXMAX	MECIX	VLPAX	TSWEX	BFRZ	CAMAX	GTAPX	QNTIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

QNTIX	+ 0.99	PRSLX
QNTIX	+ 0.99	BFRZ
BFRZ	+ 0.98	PRSLX
PRSLX	+ 0.95	GTCIX
SXMAX	+ 0.94	GTCIX
SXMAX	+ 0.93	PRSLX

High negative correlations

QNTIX	- 0.0	CAMAX
GTAPX	- 0.0	CAMAX
CAMAX	- 0.0	BFRZ
CAMAX	- 0.0	TSWEX
CAMAX	- 0.0	VLPAX
CAMAX	- 0.0	MECIX

Risk-Adjusted Indicators

There is a big difference between Midas Mutual Fund performing well and Midas Fund 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 Midas Fund'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
GTCIX	0.50	0.08	0.06	0.27	0.49	(0.54)	0.99	(1.11)	2.57
PRSLX	0.45	0.03	0.03	0.10	0.50	(0.50)	1.28	(0.62)	4.11
SXMAX	0.28	0.00	(0.10)	0.07	0.26	(0.31)	0.62	(0.50)	1.85
MECIX	0.49	(0.04)	(0.09)	0.01	0.65	(0.50)	1.02	(1.09)	3.52
VLPAX	0.59	0.01	(0.08)	(0.04)	0.83	(0.58)	1.24	(1.62)	4.07
TSWEX	0.53	0.00	(0.01)	0.08	0.52	(0.64)	1.14	(0.91)	3.07
BFRZ	0.20	0.02	(0.06)	0.14	0.18	(0.22)	0.43	(0.31)	2.09
CAMAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GTAPX	0.34	0.05	0.01	0.22	0.22	(0.39)	0.66	(0.56)	1.84
QNTIX	0.50	0.05	0.05	0.13	0.53	(0.52)	1.26	(0.75)	4.27

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