Azzad Ethical Correlations
ADJEX Fund | USD 14.98 0.02 0.13% |
The current 90-days correlation between Azzad Ethical and Iman Fund Class is 0.83 (i.e., Very poor diversification). The correlation of Azzad Ethical 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 Ethical Correlation With Market
Poor diversification
The correlation between Azzad Ethical Fund and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Azzad Ethical Fund and DJI in the same portfolio, assuming nothing else is changed.
Azzad |
Moving together with Azzad Mutual Fund
0.99 | PAMCX | T Rowe Price | PairCorr |
0.99 | RRMGX | T Rowe Price | PairCorr |
0.99 | TRQZX | T Rowe Price | PairCorr |
0.94 | RPMGX | T Rowe Price | PairCorr |
0.99 | PRJIX | T Rowe Price | PairCorr |
0.77 | PRNHX | T Rowe Price | PairCorr |
0.99 | TRUZX | T Rowe Price | PairCorr |
0.77 | PCBIX | Midcap Fund Institutional | PairCorr |
0.77 | PEMGX | Midcap Fund Class | PairCorr |
0.78 | PMBCX | Midcap Fund Class | PairCorr |
0.7 | DXQLX | Direxion Monthly Nasdaq | PairCorr |
0.91 | RYVLX | Nasdaq 100 2x | PairCorr |
0.91 | RYVYX | Nasdaq 100 2x | PairCorr |
0.91 | UOPIX | Ultra Nasdaq 100 | PairCorr |
0.91 | RYCCX | Nasdaq 100 2x | PairCorr |
0.91 | UOPSX | Ultranasdaq 100 Profund | PairCorr |
0.9 | INPIX | Internet Ultrasector | PairCorr |
0.9 | INPSX | Internet Ultrasector | PairCorr |
Moving against Azzad Mutual Fund
0.68 | WISEX | Azzad Wise Capital | PairCorr |
0.82 | HIO | Western Asset High | PairCorr |
0.77 | ASBFX | Short Term Bond | PairCorr |
0.72 | NECRX | Loomis Sayles E | PairCorr |
0.67 | GQJPX | Gqg Partners Interna | PairCorr |
0.64 | PUGCX | Putnam Global Equity | PairCorr |
0.58 | FSUGX | American Funds Government | PairCorr |
0.5 | TRIGX | T Rowe Price | PairCorr |
0.46 | HSXIX | Hartford Schroders | PairCorr |
0.39 | MFIRX | Ms Global Fixed | PairCorr |
0.34 | VWIAX | Vanguard Wellesley Income | PairCorr |
0.34 | AFTEX | Tax Exempt Bond | PairCorr |
0.73 | ACCSX | Access Capital Munity | PairCorr |
0.72 | NWJJX | Nationwide Highmark Bond | PairCorr |
0.62 | MIPIX | Matthews Asia Dividend | PairCorr |
0.56 | MINFX | Mfs International Value | PairCorr |
Related Correlations Analysis
-0.63 | 0.86 | 0.53 | 0.93 | IMANX | ||
-0.63 | -0.62 | 0.2 | -0.67 | WISEX | ||
0.86 | -0.62 | 0.44 | 0.9 | AMDWX | ||
0.53 | 0.2 | 0.44 | 0.56 | AMANX | ||
0.93 | -0.67 | 0.9 | 0.56 | AMAGX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Azzad Mutual Fund performing well and Azzad Ethical 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 Ethical'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
IMANX | 0.85 | (0.07) | 0.00 | (0.15) | 0.00 | 1.41 | 4.73 | |||
WISEX | 0.06 | 0.01 | 0.61 | 0.25 | 0.00 | 0.19 | 0.37 | |||
AMDWX | 0.70 | (0.03) | 0.00 | (0.14) | 0.00 | 1.17 | 4.58 | |||
AMANX | 0.64 | 0.00 | 0.00 | (0.06) | 0.00 | 1.10 | 3.30 | |||
AMAGX | 0.86 | (0.08) | 0.00 | (0.17) | 0.00 | 1.30 | 5.16 |