Nicholas Correlations

Mutual Funds . USA . 
Fund . Nicholas Ii Inc
NNTWX Fund  USD 32.65  0.04  0.12%   
The current 90-days correlation between Nicholas Ii and Touchstone Sands Capital is 0.73 (i.e., Poor 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

Almost no diversification

The correlation between Nicholas Ii Inc and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Ii 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 Ii 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 housing.

Moving together with Nicholas Mutual Fund

  0.94NSEIX Nicholas Equity IncomePairCorr
  0.72NCLEX Nicholas EditionPairCorr
  0.66NCTWX Nicholas IiPairCorr
  0.99NICSX Nicholas FundPairCorr
  0.95NNLEX Nicholas EditionPairCorr
  0.99PAMCX T Rowe PricePairCorr
  0.99RRMGX T Rowe PricePairCorr
  0.99TRQZX T Rowe PricePairCorr
  0.99RPMGX T Rowe PricePairCorr
  0.98PRJIX T Rowe PricePairCorr
  0.98PRNHX T Rowe PricePairCorr
  0.98TRUZX T Rowe PricePairCorr
  0.98PCBIX Midcap Fund InstitutionalPairCorr
  0.98PEMGX Midcap Fund ClassPairCorr
  0.98PMBCX Midcap Fund ClassPairCorr
  0.87PFN Pimco Income StrategyPairCorr
  0.92CIF Mfs Intermediate HighPairCorr
  0.68NXJ Nuveen New JerseyPairCorr
  0.93PCF Putnam High IncomePairCorr
  0.98BGETX Baillie Gifford EafePairCorr
  0.92EXDAX Pro-blend(r) ConservativePairCorr
  0.87RBSRX Rbc Bluebay StrategicPairCorr
  0.97ICSNX Dynamic OpportunityPairCorr
  0.87PDINX Putnam Diversified IncomePairCorr
  0.94RFRAX Columbia Floating RatePairCorr
  0.98NSGAX Columbia Select LargePairCorr
  0.93LINVX L Abbett InternationalPairCorr
  0.98SVLCX Columbia Select LargePairCorr
  0.95TEMIX Franklin Mutual EuropeanPairCorr
  0.97ILGGX Columbia Integrated LargePairCorr
  0.91TRZYX T Rowe PricePairCorr
  0.99CMJIX Calvert Mid CapPairCorr
  0.94PISLX Columbia Pyrford IntPairCorr
  0.94ESCIX Ashmore Emerging MarketsPairCorr

Moving against Nicholas Mutual Fund

  0.4XNBHX Neuberger Berman IntPairCorr

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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