Applied Finance Correlations

AFDZX Fund

USD 23.72 0.16 0.67%

The current 90-days correlation between Applied Finance Explorer and Thrivent Small Cap is 0.15 (i.e., Average diversification). The correlation of Applied Finance 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.

Applied Finance Correlation With Market

Average diversification

The correlation between Applied Finance Explorer and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Finance Explorer and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Applied Finance Explorer. 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 Applied Mutual Fund

0.92	AFALX	Applied Finance Core	Pair Corr
0.92	AFAZX	Applied Finance Core	Pair Corr
0.94	AFDVX	Applied Finance Explorer	Pair Corr
0.86	AFVZX	Applied Finance Select	Pair Corr
0.86	AFVLX	Applied Finance Select	Pair Corr
0.98	VSIIX	Vanguard Small Cap	Pair Corr
0.94	VISVX	Vanguard Small Cap	Pair Corr
0.92	DFSVX	Us Small Cap	Pair Corr
0.97	DFFVX	Us Targeted Value	Pair Corr
0.9	UBVCX	Undiscovered Managers	Pair Corr
0.96	UBVAX	Undiscovered Managers	Pair Corr
0.9	UBVSX	Undiscovered Managers	Pair Corr
0.93	AVFIX	American Beacon Small	Pair Corr
0.63	FSMMX	Fs Multi Strategy	Pair Corr
0.84	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.84	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.84	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.84	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.86	WCPSX	Mobile Telecommunicatio Steady Growth	Pair Corr
0.85	RNGHX	New Economy Fund	Pair Corr
0.89	FCNTX	Fidelity Contrafund	Pair Corr
0.88	FTRNX	Fidelity Trend	Pair Corr
0.87	KNPAX	Kinetics Paradigm	Pair Corr
0.86	FLCNX	Fidelity Contrafund	Pair Corr
0.91	USPRX	Sp 500 Index	Pair Corr
0.88	ELFNX	Elfun Trusts Elfun	Pair Corr
0.87	FGRIX	Fidelity Growth Income	Pair Corr
0.77	AMECX	Income Fund	Pair Corr

Moving against Applied Mutual Fund

0.58	BTMPX	Ishares Msci Eafe	Pair Corr
0.58	MDIIX	Blackrock Intern Index	Pair Corr
0.54	BTMKX	Blackrock International	Pair Corr
0.32	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	TSCSX	PARWX	QRSVX	OBSOX
TSCSX		0.67	0.99	0.84	TSCSX
PARWX	0.67		0.62	0.56	PARWX
QRSVX	0.99	0.62		0.81	QRSVX
OBSOX	0.84	0.56	0.81		OBSOX
	TSCSX	PARWX	QRSVX	OBSOX

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Risk-Adjusted Indicators

There is a big difference between Applied Mutual Fund performing well and Applied Finance 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 Applied Finance'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
TSCSX	0.74	0.00	0.04	0.10	0.64	(0.83)	1.80	(1.18)	6.22
PARWX	0.61	(0.10)	0.00	(0.02)	0.00	0.00	1.17	(0.93)	7.86
QRSVX	0.73	0.05	0.11	0.15	0.47	(0.86)	1.89	(1.27)	6.35
OBSOX	0.91	0.00	0.02	0.10	1.03	(0.92)	1.79	(1.98)	6.01

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