Muhlenkamp Fund Correlations

Mutual Funds . USA . 
Fund . Muhlenkamp Fund Institutional
MUHLX Fund  USD 69.96  0.12  0.17%   
The current 90-days correlation between Muhlenkamp Fund Inst and Third Avenue Value is 0.59 (i.e., Very weak diversification). The correlation of Muhlenkamp Fund 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.

Muhlenkamp Fund Correlation With Market

Poor diversification

The correlation between Muhlenkamp Fund Institutional 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 Muhlenkamp Fund Institutional 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 Muhlenkamp Fund Institutional. 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 bureau of economic analysis.

Moving together with Muhlenkamp Mutual Fund

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  0.96FFFMX American Funds AmericanPairCorr
  0.96AMRMX American MutualPairCorr
  0.96AMFFX American MutualPairCorr
  0.96AMFCX American MutualPairCorr
  0.98DODGX Dodge Stock FundPairCorr
  0.97VIVAX Vanguard Value IndexPairCorr
  0.94ERH Allspring Utilities AndPairCorr
  0.93WHIYX Ivy High IncomePairCorr
  0.94IVHIX Ivy High IncomePairCorr
  0.94IHIFX Ivy High IncomePairCorr
  0.93WRHIX Ivy High IncomePairCorr
  0.93WHIAX Ivy High IncomePairCorr
  0.83CSJZX Cohen Steers RealtyPairCorr
  0.83CSRSX Cohen Steers RealtyPairCorr
  0.96JDCAX Janus Forty FundPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr
  0.95NBGTX Neuberger Berman GuardianPairCorr
  0.96MCGIX Amg Managers MontagPairCorr
  0.95JGRCX Janus EnterprisePairCorr
  0.98APPIX Appleseed Fund AppleseedPairCorr
  0.97VFINX Vanguard 500 IndexPairCorr
  0.95PBCJX Blue Chip FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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