Ivy Asset Correlations

WASAX Fund

USD 24.16 0.03 0.12%

The current 90-days correlation between Ivy Asset Strategy and Ivy International E is 0.86 (i.e., Very poor diversification). The correlation of Ivy Asset 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.

Ivy Asset Correlation With Market

Very poor diversification

The correlation between Ivy Asset Strategy and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ivy Asset Strategy and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Ivy Asset Strategy. 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 nation.

Moving together with Ivy Mutual Fund

0.92	OASGX	Optimum Small Mid	Pair Corr
0.89	OCFIX	Optimum Fixed Income	Pair Corr
0.89	WSGAX	Ivy Small Cap	Pair Corr
0.9	OCIEX	Optimum International	Pair Corr
0.87	OCLVX	Optimum Large Cap	Pair Corr
0.97	OCLGX	Optimum Large Cap	Pair Corr
0.92	OCSGX	Optimum Small Mid	Pair Corr
0.97	WSTAX	Ivy Science And	Pair Corr
0.8	DMO	Western Asset Mortgage	Pair Corr
0.93	CXHYX	Delaware National High	Pair Corr
0.98	WCEAX	Ivy E Equity	Pair Corr
0.93	FTNYX	Delaware Tax Free	Pair Corr
0.93	FTORX	First Investors Tax	Pair Corr
0.93	FTOTX	First Investors Tax	Pair Corr
0.89	DLHIX	Delaware Healthcare	Pair Corr
0.89	DLHCX	Delaware Healthcare	Pair Corr
0.89	DLHAX	Delaware Healthcare	Pair Corr
0.89	DLRHX	Delaware Healthcare	Pair Corr
0.85	DLTZX	Delaware Limited Term	Pair Corr
0.84	DLTRX	Delaware Limited Term	Pair Corr
0.96	IPOAX	Ivy Emerging Markets	Pair Corr
0.93	DMHIX	Delaware Minnesota High	Pair Corr
0.93	DMOCX	Delaware Tax Free	Pair Corr
0.93	DMNIX	Delaware Tax Free	Pair Corr
0.93	DMTFX	Delaware Tax Free	Pair Corr
0.93	DMUSX	Delaware Tax Free	Pair Corr
0.82	IRSAX	Ivy Advantus Real	Pair Corr
0.89	OIFIX	Optimum Fixed Income	Pair Corr
0.92	OIIEX	Optimum International	Pair Corr
0.97	OILGX	Optimum Large Cap	Pair Corr
0.89	OILVX	Optimum Large Cap	Pair Corr
0.93	VCTFX	Delaware Tax Free	Pair Corr
0.88	DPCFX	Delaware Diversified	Pair Corr
0.88	DPDFX	Delaware Diversified	Pair Corr
0.89	DPFFX	Delaware Diversified	Pair Corr

Related Correlations Analysis

	ICEIX	ICEQX	ICDAX	ICDBX	ICDCX	ICDYX	ICFEX	ILCEX	WRAXX
ICEIX		0.82	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ICEIX
ICEQX	0.82		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ICEQX
ICDAX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	ICDAX
ICDBX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ICDBX
ICDCX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ICDCX
ICDYX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ICDYX
ICFEX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ICFEX
ILCEX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	ILCEX
WRAXX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WRAXX
	ICEIX	ICEQX	ICDAX	ICDBX	ICDCX	ICDYX	ICFEX	ILCEX	WRAXX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ICEQX	+ 0.82	ICEIX
ICDAX	+ 0.0	ICEIX
ICDBX	+ 0.0	ICEIX
ICDCX	+ 0.0	ICEIX
ICDYX	+ 0.0	ICEIX
ICFEX	+ 0.0	ICEIX

High negative correlations

WRAXX	- 0.0	ILCEX
WRAXX	- 0.0	ICFEX
ILCEX	- 0.0	ICFEX
WRAXX	- 0.0	ICDYX
ILCEX	- 0.0	ICDYX
ICFEX	- 0.0	ICDYX

Risk-Adjusted Indicators

There is a big difference between Ivy Mutual Fund performing well and Ivy Asset 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 Ivy Asset'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
ICEIX	0.57	(0.02)	(0.03)	0.03	0.75	(0.63)	1.42	(1.21)	5.06
ICEQX	0.50	0.01	0.01	0.07	0.66	(0.52)	1.18	(0.81)	4.14
ICDAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICDBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICDCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICDYX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICFEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ILCEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WRAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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