Victory Integrity Correlations

MMIJX Fund

USD 25.03 0.01 0.04%

The current 90-days correlation between Victory Integrity Mid and Quantitative Longshort Equity is 0.62 (i.e., 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 Mid Cap 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 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 Victory Integrity 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 board of governors.

Moving together with Victory Mutual Fund

0.91	RPPRX	Victory Rs Partners	Pair Corr
0.87	MMMMX	Victory Integrity	Pair Corr
0.96	MMMSX	Victory Integrity	Pair Corr
0.91	RSPMX	Victory Rs Partners	Pair Corr

Moving against Victory Mutual Fund

0.42	GUTEX	Victory Tax Exempt	Pair Corr
0.42	RSTYX	Victory Tax Exempt	Pair Corr
0.39	ULTIX	Usaa Tax Exempt	Pair Corr
0.39	UNYIX	New York Bond	Pair Corr
0.36	UITIX	Usaa Tax Exempt	Pair Corr
0.44	RHMMX	Victory High Income	Pair Corr
0.39	UTEIX	Tax Exempt Intermediate	Pair Corr
0.39	UVABX	Virginia Bond	Pair Corr
0.38	UVAIX	Usaa Virginia Bond	Pair Corr
0.37	UCBIX	Usaa California Bond	Pair Corr

Related Correlations Analysis

	GTLSX	DIAYX	QNZIX	OWSBX	BDMKX	DULTX	SUSAX	VMSSX
GTLSX		0.78	0.85	0.79	0.6	0.82	0.84	0.73	GTLSX
DIAYX	0.78		0.81	0.79	0.68	0.85	0.77	0.86	DIAYX
QNZIX	0.85	0.81		0.69	0.83	0.79	0.8	0.62	QNZIX
OWSBX	0.79	0.79	0.69		0.6	0.85	0.87	0.81	OWSBX
BDMKX	0.6	0.68	0.83	0.6		0.57	0.58	0.42	BDMKX
DULTX	0.82	0.85	0.79	0.85	0.57		0.94	0.89	DULTX
SUSAX	0.84	0.77	0.8	0.87	0.58	0.94		0.79	SUSAX
VMSSX	0.73	0.86	0.62	0.81	0.42	0.89	0.79		VMSSX
	GTLSX	DIAYX	QNZIX	OWSBX	BDMKX	DULTX	SUSAX	VMSSX

Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory Integrity 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 Victory Integrity'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
GTLSX	0.34	0.02	(0.07)	0.11	0.35	(0.35)	0.70	(0.56)	1.78
DIAYX	0.30	0.04	(0.01)	0.15	0.19	(0.31)	0.65	(0.48)	1.85
QNZIX	0.60	0.10	0.07	0.23	0.73	(0.64)	1.23	(1.11)	4.01
OWSBX	0.06	0.00	(0.58)	(0.53)	0.00	(0.11)	0.10	(0.10)	0.39
BDMKX	0.06	0.00	(0.57)	0.19	0.00	(0.13)	0.11	(0.10)	0.42
DULTX	0.05	0.01	(0.57)	1.57	0.00	(0.20)	0.10	(0.10)	0.51
SUSAX	0.03	0.00	0.00	(0.65)	0.00	0.00	0.10	(0.10)	0.50
VMSSX	0.07	0.00	(0.26)	0.16	0.00	(0.26)	0.22	(0.22)	0.66

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