Azzad Wise Correlations

Mutual Funds USA . 
Fund . Azzad Wise Capital
WISEX Fund  USD 10.85  0.01  0.09%   
The current 90-days correlation between Azzad Wise Capital and Siit Emerging Markets is 0.47 (i.e., Very weak diversification). The correlation of Azzad Wise 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.

Azzad Wise Correlation With Market

Poor diversification

The correlation between Azzad Wise Capital and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Azzad Wise Capital 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 Azzad Wise Capital. 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 Azzad Mutual Fund

  0.93ADJEX Azzad EthicalPairCorr
  0.93FGBRX Templeton Global BondPairCorr
  0.93FBNRX Templeton Global BondPairCorr
  0.76RCWBX Capital World BondPairCorr
  0.77CCWFX Capital World BondPairCorr
  0.74CCWCX Capital World BondPairCorr
  0.77RCWEX Capital World BondPairCorr
  0.76CCWEX Capital World BondPairCorr
  0.76RCWCX Capital World BondPairCorr
  0.78RCWGX Capital World BondPairCorr
  0.78RCWFX Capital World BondPairCorr
  0.96FTYPX Fidelity Freedom IndexPairCorr
  0.97FFBTX Fidelity Freedom BlendPairCorr
  0.79GAAVX Gmo Alternative AlloPairCorr
  0.89GCAVX Gmo Small CapPairCorr
  0.95GQLOX Gmo Quality FundPairCorr
  0.97GHVIX Gmo High YieldPairCorr
  0.95GMCQX Gmo Equity AllocationPairCorr
  0.97SIICX Alphacentric StrategicPairCorr
  0.95ERH Allspring Utilities AndPairCorr
  0.98VTTVX Vanguard Target RetiPairCorr
  0.98VSCGX Vanguard LifestrategyPairCorr
  0.95RHSIX Rational StrategicPairCorr
  0.95TSDDX Touchstone FundsPairCorr
  0.96TEMWX Templeton WorldPairCorr
  0.82GOBAX Legg Mason BwPairCorr
  0.97TRRUX T Rowe PricePairCorr
  0.94PFSVX Imgp Sbh FocusedPairCorr
  0.88BAFJX Brown AdvisoryPairCorr
  0.97FATTX American Funds 2045PairCorr
  0.89DNAVX Dunham Dynamic MacroPairCorr
  0.94BZGIX Blackrock CollegeadvantagePairCorr
  0.98RFETX American Funds 2030PairCorr
  0.98GLIRX Goldman Sachs LocalPairCorr
  0.95ACAZX Alger Capital ApprecPairCorr
  0.95GLCCX Goldman Sachs LargePairCorr
  0.86CFBFX American Funds PoratePairCorr

Moving against Azzad Mutual Fund

  0.38AEEIX Ab Global RealPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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