Nicholas Fund Correlations

Mutual Funds . USA . 
Fund . Nicholas Fund Inc
NICSX Fund  USD 91.34  0.08  0.09%   
The current 90-days correlation between Nicholas Fund and Madison Diversified Income is 0.85 (i.e., Very poor diversification). The correlation of Nicholas 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.

Nicholas Fund Correlation With Market

Almost no diversification

The correlation between Nicholas Fund Inc and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Fund Inc 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 Fund Inc. 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 state.

Moving together with Nicholas Mutual Fund

  0.96NSEIX Nicholas Equity IncomePairCorr
  0.92NCLEX Nicholas EditionPairCorr
  0.99NCTWX Nicholas IiPairCorr
  0.92NNLEX Nicholas EditionPairCorr
  0.99NNTWX Nicholas IiPairCorr
  0.98FAFGX American FundsPairCorr
  0.98FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  0.98CGFFX Growth FundPairCorr
  0.98CGFCX Growth FundPairCorr
  0.98CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.98DXQLX Direxion Monthly NasdaqPairCorr
  0.98RYVLX Nasdaq 100 2xPairCorr
  0.98RYVYX Nasdaq 100 2xPairCorr
  0.98UOPIX Ultra Nasdaq 100PairCorr
  0.98RYCCX Nasdaq 100 2xPairCorr
  0.98UOPSX Ultranasdaq 100 ProfundPairCorr
  0.99INPIX Internet UltrasectorPairCorr
  0.99INPSX Internet UltrasectorPairCorr
  0.7BIPIX Biotechnology UltrasectorPairCorr
  0.89HRLTX Hartford GlobalPairCorr
  0.88DULTX Delaware InvestmentsPairCorr
  0.98VSMAX Vanguard Small CapPairCorr
  0.99JRSDX Intech Managed VolatilityPairCorr
  0.95SHDPX American Beacon ShapiroPairCorr
  0.98BRGKX Blckrck Fds IiiPairCorr
  0.95OYCIX Oppenhemier CnsrvtvPairCorr
  0.96BARIX Baron Asset FundPairCorr
  0.66WATPX Western Asset InflationPairCorr
  0.9JSISX Jpmorgan UnconstrainedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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