Muhlenkamp Fund Correlations

Mutual Funds . USA . 
Fund . Muhlenkamp Fund Institutional
MUHLX Fund  USD 68.86  0.39  0.56%   
The current 90-days correlation between Muhlenkamp Fund Inst and Third Avenue Value is -0.06 (i.e., Good 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

Good diversification

The correlation between Muhlenkamp Fund Institutional and DJI is -0.05 (i.e., Good 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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  0.95FFFMX American Funds AmericanPairCorr
  0.97AMRMX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97AMFCX American MutualPairCorr
  0.95DODGX Dodge Stock FundPairCorr
  0.95VIVAX Vanguard Value IndexPairCorr
  0.95FTYPX Fidelity Freedom IndexPairCorr
  0.95FFBTX Fidelity Freedom BlendPairCorr
  0.81GAAVX Gmo Alternative AlloPairCorr
  0.93GCAVX Gmo Small CapPairCorr
  0.95GQLOX Gmo Quality FundPairCorr
  0.97GHVIX Gmo High YieldPairCorr
  0.97GMCQX Gmo Equity AllocationPairCorr
  0.97CBLRX Columbia BalancedPairCorr
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  0.94MMFLX Massmutual SelectPairCorr
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  0.94SJCAX Steward Large CapPairCorr
  0.96MPBAX Global StrategistPairCorr
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  0.95FSBDX Fidelity Series BluePairCorr
  0.97ARANX Horizon Active RiskPairCorr
  0.96PDHCX Prudential EmergingPairCorr
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  0.95IPSHX Pinnacle Sherman MultiPairCorr
  0.93VIMSX Vanguard Mid CapPairCorr
  0.92TIQIX Touchstone SustainabilityPairCorr
  0.97MITTX Massachusetts InvestorsPairCorr
  0.95RGAEX Growth FundPairCorr
  0.84RBRCX Rbc Small CapPairCorr
  0.91RTIRX Select InternationalPairCorr
  0.94TWEMX Thomas White EmergingPairCorr
  0.93QMGIX Oppenheimer GlobalPairCorr
  0.97LCEVX Invesco DiversifiedPairCorr

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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