Madison Funds Correlations

Mutual Funds . USA . 
Fund . Madison Funds
MIIRX Fund  USD 10.58  0.02  0.19%   
The current 90-days correlation between Madison Funds and Dreyfus Short Intermediate is 0.49 (i.e., Very weak diversification). The correlation of Madison Funds 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 Funds Correlation With Market

Good diversification

The correlation between Madison Funds and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Funds 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 Funds . 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

  0.76MMDAX Madison Moderate AllPairCorr
  0.71BVAOX Broadview OpportunityPairCorr
  0.71MADAX Madison Dividend IncomePairCorr
  0.72MADRX Madison FundsPairCorr
  0.73MAGSX Madison AggressivePairCorr
  0.71BHBFX Madison Dividend IncomePairCorr
  0.7MSCIX Madison Small CapPairCorr
  0.72MSCRX Madison Small CapPairCorr
  0.7MASMX Madison Small CapPairCorr
  0.78MBLAX Madison DiversifiedPairCorr
  0.9MBOIX Madison Core BondPairCorr
  0.97MBORX Madison FundsPairCorr
  0.97MBOYX Madison E BondPairCorr
  0.97MBOAX Madison E BondPairCorr
  0.81MCNAX Madison ConservativePairCorr
  0.71MDMIX Madison Dividend IncomePairCorr
  0.7MENAX Madison Ered CallPairCorr
  0.71MENIX Madison FundsPairCorr
  0.71MENRX Madison Ered CallPairCorr
  0.71MENYX Madison Ered CallPairCorr
  1.0MIIBX Madison High QualityPairCorr
  0.83GTFHX Madison Tax FreePairCorr
  0.92VBIRX Vanguard Short TermPairCorr
  0.86VFSUX Vanguard Short TermPairCorr
  0.91VFSIX Vanguard Short TermPairCorr
  0.91VFSTX Vanguard Short TermPairCorr
  0.94VBITX Vanguard Short TermPairCorr
  0.97VBISX Vanguard Short TermPairCorr
  0.87LALDX Lord Abbett ShortPairCorr
  0.91VSCSX Vanguard Short TermPairCorr
  0.89LDLAX Lord Abbett ShortPairCorr

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 Funds 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 Funds' 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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