Meridian Equity Correlations

Mutual Funds . USA . 
Fund . Meridian Equity Income
MRAEX Fund  USD 13.35  0.05  0.38%   
The current 90-days correlation between Meridian Equity Income and Prudential Short Duration is 0.4 (i.e., Very weak diversification). The correlation of Meridian Equity 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.

Meridian Equity Correlation With Market

Poor diversification

The correlation between Meridian Equity Income and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meridian Equity Income 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 Meridian Equity Income. 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 income.

Moving together with Meridian Mutual Fund

  0.63MRAGX Meridian GrowthPairCorr
  0.65MRCEX Meridian Equity IncomePairCorr
  0.63MRCGX Meridian GrowthPairCorr
  0.65MRIEX Meridian Equity IncomePairCorr
  0.63MRIGX Meridian GrowthPairCorr
  0.63MRRGX Meridian GrowthPairCorr
  0.94MSGAX Meridian Small CapPairCorr
  0.93MSGCX Meridian Small CapPairCorr
  0.76MSGGX Meridian Small CapPairCorr
  0.94MSGRX Meridian Small CapPairCorr
  0.97MVALX Meridian ContrarianPairCorr
  0.65MEIFX Meridian Equity IncomePairCorr
  0.76MERDX Meridian GrowthPairCorr
  0.69MFCCX Meridian ContrarianPairCorr
  0.69MFCIX Meridian ContrarianPairCorr
  0.83JHQCX Jpmorgan Hedged EquityPairCorr
  0.83JHEQX Jpmorgan Hedged EquityPairCorr
  0.98JHQAX Jpmorgan Hedged EquityPairCorr
  0.84GTENX Gateway Fund ClassPairCorr
  0.98GTECX Gateway Fund ClassPairCorr
  0.84GTEYX Gateway Fund ClassPairCorr
  0.98GATEX Gateway Fund ClassPairCorr
  0.88JHDCX Jpmorgan Hedged EquityPairCorr
  0.88JHDRX Jpmorgan Hedged EquityPairCorr
  0.81JHDAX Jpmorgan Hedged EquityPairCorr
  0.96ERH Allspring Utilities AndPairCorr
  0.95WHIYX Ivy High IncomePairCorr
  0.79IVHIX Ivy High IncomePairCorr
  0.95IHIFX Ivy High IncomePairCorr
  0.95WRHIX Ivy High IncomePairCorr
  0.78WHIAX Ivy High IncomePairCorr
  0.63CSJZX Cohen Steers RealtyPairCorr
  0.63CSRSX Cohen Steers RealtyPairCorr
  0.61MCFAX Miller Vertible BondPairCorr
  0.95AWPYX Ab International GrowthPairCorr
  0.97JSCOX Perkins Small CapPairCorr
  0.64SEPIX Energy Basic MaterialsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Meridian Mutual Fund performing well and Meridian Equity 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 Meridian Equity'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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