| MMEYX Fund | | | USD 48.27 0.24 0.49% |
The current 90-days correlation between Victory Integrity and Rmb Mendon Financial is 0.88 (i.e., Very poor diversification). The correlation of Victory Integrity 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.
Victory Integrity Correlation With Market
Poor diversification
The correlation between Victory Integrity Discovery and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Integrity Discovery 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 Victory Integrity Discovery. 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 manufacturing.