Muhlenkamp Fund Correlations
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.
Muhlenkamp |
Moving together with Muhlenkamp Mutual Fund
0.97 | VVIAX | Vanguard Value Index | PairCorr |
0.98 | DOXGX | Dodge Cox Stock | PairCorr |
0.97 | AFMFX | American Mutual | PairCorr |
0.97 | FFMMX | American Funds American | PairCorr |
0.96 | FFFMX | American Funds American | PairCorr |
0.96 | AMRMX | American Mutual | PairCorr |
0.96 | AMFFX | American Mutual | PairCorr |
0.96 | AMFCX | American Mutual | PairCorr |
0.98 | DODGX | Dodge Stock Fund | PairCorr |
0.97 | VIVAX | Vanguard Value Index | PairCorr |
0.94 | ERH | Allspring Utilities And | PairCorr |
0.93 | WHIYX | Ivy High Income | PairCorr |
0.94 | IVHIX | Ivy High Income | PairCorr |
0.94 | IHIFX | Ivy High Income | PairCorr |
0.93 | WRHIX | Ivy High Income | PairCorr |
0.93 | WHIAX | Ivy High Income | PairCorr |
0.83 | CSJZX | Cohen Steers Realty | PairCorr |
0.83 | CSRSX | Cohen Steers Realty | PairCorr |
0.96 | JDCAX | Janus Forty Fund | PairCorr |
0.97 | VFIAX | Vanguard 500 Index | PairCorr |
0.95 | NBGTX | Neuberger Berman Guardian | PairCorr |
0.96 | MCGIX | Amg Managers Montag | PairCorr |
0.95 | JGRCX | Janus Enterprise | PairCorr |
0.98 | APPIX | Appleseed Fund Appleseed | PairCorr |
0.97 | VFINX | Vanguard 500 Index | PairCorr |
0.95 | PBCJX | Blue Chip Fund | PairCorr |
Related Correlations Analysis
0.92 | 0.97 | 0.97 | 0.95 | TAVFX | ||
0.92 | 0.93 | 0.91 | 0.92 | MERDX | ||
0.97 | 0.93 | 0.99 | 0.96 | HRTVX | ||
0.97 | 0.91 | 0.99 | 0.96 | MPGFX | ||
0.95 | 0.92 | 0.96 | 0.96 | GABAX | ||
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
TAVFX | 0.72 | 0.15 | 0.06 | 0.48 | 0.51 | 1.71 | 3.53 | |||
MERDX | 0.84 | (0.04) | (0.02) | 0.17 | 0.84 | 1.94 | 6.10 | |||
HRTVX | 0.79 | 0.08 | 0.08 | 0.30 | 0.56 | 2.11 | 5.27 | |||
MPGFX | 0.63 | 0.05 | 0.05 | 0.26 | 0.53 | 1.42 | 5.23 | |||
GABAX | 0.54 | 0.21 | (0.03) | (1.42) | 0.45 | 1.55 | 3.62 |