Victory Munder Correlations

Mutual Funds . USA . 
Fund . Victory Munder Multi Cap
MNNAX Fund  USD 60.06  0.11  0.18%   
The current 90-days correlation between Victory Munder Multi and Pioneer Money Market is 0.03 (i.e., Significant diversification). The correlation of Victory Munder 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 Munder Correlation With Market

Almost no diversification

The correlation between Victory Munder Multi Cap and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Munder Multi 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 Munder Multi 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 nation.

Moving together with Victory Mutual Fund

  0.73UITBX Intermediate Term BondPairCorr
  1.0VDSCX Victory Diversified StockPairCorr
  0.98USCAX Small Cap StockPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  1.0VIIIX Vanguard InstitutionalPairCorr
  0.98VGTSX Vanguard Total InterPairCorr
  0.98VTIAX Vanguard Total InterPairCorr
  0.85AAAPX Deutsche Real AssetsPairCorr
  0.99JGMNX Janus TritonPairCorr
  0.93VMNVX Vanguard Global MinimumPairCorr
  0.87DLY Doubleline Yield OppPairCorr
  0.99GMWZX Mydestination 2025PairCorr
  1.0IISPX Voya Solution 2055PairCorr
  0.94MIOIX Morgan Stanley InstiPairCorr
  0.81PCMBX California IntermediatePairCorr
  0.97DELNX Doubleline Low DurationPairCorr
  0.87TFSLX Touchstone FlexiblePairCorr
  0.99USBSX Cornerstone ModeratePairCorr
  0.97NUSAX Nationwide GovernmentPairCorr
  0.98FTDBX FtdbxPairCorr
  0.99BCMPX Blackrock ModeratePairCorr
  0.97HILTX Hartford InternationalPairCorr
  0.97JSOCX Jpmorgan Strategic IncomePairCorr
  0.95RYPIX Transportation FundPairCorr
  0.95IAF Aberdeen AustraliaPairCorr
  0.99GGIZX Balanced AllocationPairCorr
  0.98PBHAX Prudential High YieldPairCorr
  0.93XWDIX Western Asset DiversifiedPairCorr
  0.98DHMYX Diamond Hill SmallPairCorr
  0.97SIVIX State Street InstituPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory Munder 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 Munder'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.

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