Nicholas Correlations

Mutual Funds . USA . 
Fund . Nicholas Ltd Edition
NCLEX Fund  USD 28.63  0.23  0.80%   
The current 90-days correlation between Nicholas Edition and Goldman Sachs Small is -0.13 (i.e., Good diversification). The correlation of Nicholas 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.

Nicholas Correlation With Market

Very poor diversification

The correlation between Nicholas Ltd Edition and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Ltd Edition 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 Nicholas Ltd Edition. 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 Nicholas Mutual Fund

  0.83NSEIX Nicholas Equity IncomePairCorr
  0.95NCTWX Nicholas IiPairCorr
  0.92NICSX Nicholas FundPairCorr
  1.0NNLEX Nicholas EditionPairCorr
  0.95NNTWX Nicholas IiPairCorr
  0.86VSGAX Vanguard Small CapPairCorr
  0.9VSGIX Vanguard Small CapPairCorr
  0.9VISGX Vanguard Small CapPairCorr
  0.91VEXPX Vanguard ExplorerPairCorr
  0.91VEXRX Vanguard ExplorerPairCorr
  0.87JGMIX Janus TritonPairCorr
  0.87JGMRX Janus TritonPairCorr
  0.82JGMAX Janus TritonPairCorr
  0.87JGMCX Janus TritonPairCorr
  0.82JGMNX Janus TritonPairCorr
  0.86DXQLX Direxion Monthly NasdaqPairCorr
  0.83RYVLX Nasdaq 100 2xPairCorr
  0.86RYVYX Nasdaq 100 2xPairCorr
  0.86UOPIX Ultra Nasdaq 100PairCorr
  0.86RYCCX Nasdaq 100 2xPairCorr
  0.86UOPSX Ultranasdaq 100 ProfundPairCorr
  0.89INPIX Internet UltrasectorPairCorr
  0.86INPSX Internet UltrasectorPairCorr
  0.83MRLOX Blackrock Gbl AllocPairCorr
  0.87CLPFX Catalyst Exceed DefinedPairCorr
  0.77LPXFX Cohen Steers LowPairCorr
  0.83FSAWX Fidelity Sai ConvertiblePairCorr
  0.8LEQCX Locorr Dynamic EquityPairCorr
  0.83ARBOX Absolute ConvertiblePairCorr
  0.91SSMOX Steward Small MidPairCorr
  0.79PIALX Pioneer SolutionsPairCorr
  0.8EAAAX Enterprise Mergers AndPairCorr
  0.88OBSOX Oberweis Small CapPairCorr
  0.89LMUSX Qs Large CapPairCorr
  0.84GMBCX Gmo InternationalPairCorr
  0.9FMIHX Large Cap FundPairCorr
  0.66IMLPX Maingate MlpPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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