Madison Mid Correlations

MMCRX Fund

USD 16.71 0.45 2.77%

The current 90-days correlation between Madison Mid Cap and Madison Moderate Allocation is -0.12 (i.e., Good diversification). The correlation of Madison Mid 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 Mid Correlation With Market

Good diversification

The correlation between Madison Mid Cap and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Mid Cap 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 Mid Cap. 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 real.

Moving together with Madison Mutual Fund

0.66	MNVRX	Madison Investors	Pair Corr
0.91	BVAOX	Broadview Opportunity	Pair Corr
0.61	MADAX	Madison Dividend Income	Pair Corr
0.74	MADRX	Madison Funds	Pair Corr
0.74	BHBFX	Madison Dividend Income	Pair Corr
0.75	MSCIX	Madison Small Cap	Pair Corr
0.75	MSCRX	Madison Small Cap	Pair Corr
0.91	MASMX	Madison Small Cap	Pair Corr
1.0	MDCIX	Madison Mid Cap	Pair Corr
0.61	MDMIX	Madison Dividend Income	Pair Corr
0.63	MENAX	Madison Ered Call	Pair Corr
0.61	MENIX	Madison Funds	Pair Corr
0.78	MENRX	Madison Ered Call	Pair Corr
0.77	MENYX	Madison Ered Call	Pair Corr
0.88	MERAX	Madison Mid Cap	Pair Corr
0.67	MINVX	Madison Investors	Pair Corr
0.66	MIVIX	Madison Investors	Pair Corr
1.0	GTSGX	Madison Mid Cap	Pair Corr
0.76	VIMAX	Vanguard Mid Cap	Pair Corr
0.77	VIMSX	Vanguard Mid Cap	Pair Corr
0.76	VMCPX	Vanguard Mid Cap	Pair Corr
0.76	VMCIX	Vanguard Mid Cap	Pair Corr
0.61	VEXMX	Vanguard Extended Market	Pair Corr

Moving against Madison Mutual Fund

0.53	VSEMX	Vanguard Extended Market	Pair Corr
0.42	GTFHX	Madison Tax Free	Pair Corr
0.31	SMPSX	Semiconductor Ultrasector	Pair Corr
0.31	SMPIX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	MMCRX	MMDAX	MNVAX	MNVRX	BVAOX	MADAX	MADRX	MAGSX	BHBFX	MSCIX
MMCRX		-0.05	0.48	0.66	0.91	0.61	0.74	-0.01	0.74	0.75	MMCRX
MMDAX	-0.05		-0.08	-0.23	-0.06	-0.17	-0.25	0.99	-0.26	0.11	MMDAX
MNVAX	0.48	-0.08		0.73	0.51	0.67	0.51	0.01	0.51	0.72	MNVAX
MNVRX	0.66	-0.23	0.73		0.74	0.51	0.69	-0.17	0.69	0.57	MNVRX
BVAOX	0.91	-0.06	0.51	0.74		0.51	0.65	-0.01	0.65	0.81	BVAOX
MADAX	0.61	-0.17	0.67	0.51	0.51		0.83	-0.09	0.83	0.59	MADAX
MADRX	0.74	-0.25	0.51	0.69	0.65	0.83		-0.19	1.0	0.49	MADRX
MAGSX	-0.01	0.99	0.01	-0.17	-0.01	-0.09	-0.19		-0.2	0.18	MAGSX
BHBFX	0.74	-0.26	0.51	0.69	0.65	0.83	1.0	-0.2		0.49	BHBFX
MSCIX	0.75	0.11	0.72	0.57	0.81	0.59	0.49	0.18	0.49		MSCIX
	MMCRX	MMDAX	MNVAX	MNVRX	BVAOX	MADAX	MADRX	MAGSX	BHBFX	MSCIX

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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

BHBFX	+ 1.0	MADRX
MAGSX	+ 0.99	MMDAX
BVAOX	+ 0.91	MMCRX
MADRX	+ 0.83	MADAX
BHBFX	+ 0.83	MADAX
MSCIX	+ 0.81	BVAOX

High negative correlations

BHBFX	- 0.26	MMDAX
MADRX	- 0.25	MMDAX
MNVRX	- 0.23	MMDAX
BHBFX	- 0.2	MAGSX
MAGSX	- 0.19	MADRX
MAGSX	- 0.17	MNVRX

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Mid 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 Mid'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
MMCRX	0.66	(0.08)	0.00	1.10	0.00	0.00	1.46	(1.41)	4.83
MMDAX	0.32	0.01	(0.06)	(0.33)	0.41	(0.33)	0.68	(0.60)	2.59
MNVAX	0.59	(0.04)	0.00	0.45	0.00	0.00	1.11	(1.01)	4.27
MNVRX	0.60	(0.04)	0.00	0.58	0.00	0.00	1.10	(1.03)	4.29
BVAOX	0.85	(0.09)	0.00	1.36	0.00	0.00	1.61	(1.81)	6.28
MADAX	0.41	(0.03)	0.00	0.64	0.00	0.00	0.83	(0.96)	3.13
MADRX	0.42	(0.06)	0.00	1.23	0.00	0.00	0.83	(0.97)	3.13
MAGSX	0.42	0.01	(0.05)	(0.16)	0.61	(0.38)	0.88	(0.80)	3.49
BHBFX	0.42	(0.06)	0.00	1.14	0.00	0.00	0.83	(0.97)	3.17
MSCIX	0.85	(0.08)	0.00	0.39	0.00	0.00	1.70	(1.90)	6.26

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