Angel Oak Correlations

Mutual Funds . USA . 
Fund . Angel Oak Financial
XFINX Fund  USD 13.76  0.07  0.51%   
The current 90-days correlation between Angel Oak Financial and Auer Growth Fund is 0.07 (i.e., Significant diversification). The correlation of Angel Oak 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.

Angel Oak Correlation With Market

Good diversification

The correlation between Angel Oak Financial and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Angel Oak Financial 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 Angel Oak Financial. 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 board of governors.

Moving against Angel Mutual Fund

  0.64NPSCX Nuveen Preferred SecPairCorr
  0.64NIEAX Dreyfusnewton InternationalPairCorr
  0.63TEDLX Tiaa Cref EmergingPairCorr
  0.63GGMMX Gabelli Global MiniPairCorr
  0.62FSELX Fidelity Select SemiPairCorr
  0.61VGTSX Vanguard Total InterPairCorr
  0.61VTIAX Vanguard Total InterPairCorr
  0.61LDP Cohen Steers LimitedPairCorr
  0.58FACEX Frost Growth EquityPairCorr
  0.58DEIGX Massmutual PremierPairCorr
  0.57VFIAX Vanguard 500 IndexPairCorr
  0.57VFINX Vanguard 500 IndexPairCorr
  0.57VFFSX Vanguard 500 IndexPairCorr
  0.57TRBOX T Rowe PricePairCorr
  0.56VTSAX Vanguard Total StockPairCorr
  0.56VTSMX Vanguard Total StockPairCorr
  0.56VITSX Vanguard Total StockPairCorr
  0.56VSTSX Vanguard Total StockPairCorr
  0.56VSMPX Vanguard Total StockPairCorr
  0.56NSBFX Nuveen Santa BarbaraPairCorr
  0.55MSQLX International EquityPairCorr
  0.54SBTOX Sanford C BernsteinPairCorr
  0.54PHIKX Columbia ConvertiblePairCorr
  0.53PIEFX Pnc Emerging MarketsPairCorr
  0.5ETJ Eaton Vance RiskPairCorr
  0.47AVCNX American Century EtfPairCorr
  0.47CIRRX Cohen Steers RealPairCorr
  0.44PAXBX Pax E BondPairCorr
  0.31NHS Neuberger Berman HighPairCorr
  0.31RBRCX Rbc Small CapPairCorr
  0.7PFALX Pimco Flexible CreditPairCorr
  0.7HMJFX Hartford Municipal ShortPairCorr
  0.68SIRAX Sierra E RetirementPairCorr
  0.68SIRIX Sierra E RetirementPairCorr
  0.68AVANX Avantis InternationalPairCorr
  0.62SMOAX Saat Moderate StrategyPairCorr
  0.62TGRLX Tiaa Cref GreenPairCorr
  0.61WILNX William Blair InternPairCorr
  0.6GITAX Goldman Sachs TechnologyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Angel Mutual Fund performing well and Angel Oak 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 Angel Oak'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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