Madison Investors Correlations

MINVX Fund

USD 29.93 0.26 0.86%

The correlation of Madison Investors 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 Investors Correlation With Market

Good diversification

The correlation between Madison Investors Fund and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Investors 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 Madison Investors 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 unemployment.

Moving together with Madison Mutual Fund

0.84	MNVAX	Madison Investors	Pair Corr
0.84	MNVRX	Madison Investors	Pair Corr
0.71	MENRX	Madison Ered Call	Pair Corr
0.72	MIVIX	Madison Investors	Pair Corr

Related Correlations Analysis

	MNVAX	WESJX	BESIX	WESNX	AONIX	BINIX	EVUAX	EVUDX	FACSX	HNMVX
MNVAX		0.08	0.08	0.08	0.63	-0.12	-0.18	0.12	0.68	0.91	MNVAX
WESJX	0.08		1.0	0.99	0.32	0.31	0.07	-0.42	0.1	0.17	WESJX
BESIX	0.08	1.0		0.99	0.32	0.31	0.07	-0.42	0.1	0.17	BESIX
WESNX	0.08	0.99	0.99		0.29	0.32	0.03	-0.42	0.11	0.16	WESNX
AONIX	0.63	0.32	0.32	0.29		-0.07	0.5	-0.02	0.39	0.62	AONIX
BINIX	-0.12	0.31	0.31	0.32	-0.07		0.14	0.03	0.11	-0.24	BINIX
EVUAX	-0.18	0.07	0.07	0.03	0.5	0.14		-0.02	-0.21	-0.14	EVUAX
EVUDX	0.12	-0.42	-0.42	-0.42	-0.02	0.03	-0.02		0.1	0.11	EVUDX
FACSX	0.68	0.1	0.1	0.11	0.39	0.11	-0.21	0.1		0.6	FACSX
HNMVX	0.91	0.17	0.17	0.16	0.62	-0.24	-0.14	0.11	0.6		HNMVX
	MNVAX	WESJX	BESIX	WESNX	AONIX	BINIX	EVUAX	EVUDX	FACSX	HNMVX

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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

BESIX	+ 1.0	WESJX
WESNX	+ 0.99	WESJX
WESNX	+ 0.99	BESIX
HNMVX	+ 0.91	MNVAX
FACSX	+ 0.68	MNVAX
AONIX	+ 0.63	MNVAX

High negative correlations

EVUDX	- 0.42	WESNX
EVUDX	- 0.42	BESIX
EVUDX	- 0.42	WESJX
HNMVX	- 0.24	BINIX
FACSX	- 0.21	EVUAX
EVUAX	- 0.18	MNVAX

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Investors 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 Investors' 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
MNVAX	0.63	(0.03)	(0.03)	0.04	0.78	(0.68)	1.17	(1.01)	3.47
WESJX	0.70	(0.02)	(0.05)	0.03	0.98	(0.73)	1.43	(1.72)	4.59
BESIX	0.70	(0.02)	(0.05)	0.03	0.98	(0.72)	1.39	(1.68)	4.56
WESNX	0.70	(0.02)	(0.05)	0.03	1.00	(0.70)	1.42	(1.67)	4.57
AONIX	0.16	(0.01)	(0.28)	0.02	0.14	(0.19)	0.33	(0.33)	0.92
BINIX	0.61	(0.09)	0.00	(0.03)	0.00	0.00	1.06	(1.30)	4.23
EVUAX	0.57	0.03	(0.01)	0.14	0.68	(0.62)	1.22	(1.29)	3.51
EVUDX	0.15	0.08	0.00	(6.55)	0.00	0.00	0.48	0.00	1.27
FACSX	0.61	0.02	(0.06)	1.33	0.81	(0.61)	1.22	(1.22)	4.05
HNMVX	0.65	(0.02)	(0.02)	0.05	0.81	(0.69)	1.31	(1.27)	4.13

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