Nicholas Correlations

Mutual Funds . USA . 
Fund . Nicholas Ltd Edition
NNLEX Fund  USD 25.30  0.21  0.82%   
The current 90-days correlation between Nicholas Edition and Nicholas Equity Income 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

  0.63NNTWX Nicholas IiPairCorr
  0.89VSGAX Vanguard Small CapPairCorr
  0.9VEXPX Vanguard ExplorerPairCorr
  0.9VEXRX Vanguard ExplorerPairCorr
  0.86JGMIX Janus TritonPairCorr
  0.86JGMRX Janus TritonPairCorr
  0.86JGMAX Janus TritonPairCorr
  0.86JGMCX Janus TritonPairCorr
  0.86JGMNX Janus TritonPairCorr
  0.86DXQLX Direxion Monthly NasdaqPairCorr
  0.86RYVLX 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
  0.89INPSX Internet UltrasectorPairCorr
  0.72MRLOX Blackrock Gbl AllocPairCorr
  0.83FSAWX Fidelity Sai ConvertiblePairCorr
  0.82LEQCX Locorr Dynamic EquityPairCorr
  0.84ARBOX Absolute ConvertiblePairCorr
  0.81PIALX Pioneer SolutionsPairCorr
  0.8EAAAX Enterprise Mergers AndPairCorr
  0.87OBSOX Oberweis Small CapPairCorr
  0.89LMUSX Qs Large CapPairCorr
  0.9FMIHX Large Cap FundPairCorr
  0.66IMLPX Maingate MlpPairCorr
  0.82FPTKX Fidelity Freedom 2015PairCorr
  0.85PTY Pimco Corporate IncomePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY