Applied Finance Correlations

AFVLX Fund

USD 21.22 0.05 0.24%

The current 90-days correlation between Applied Finance Select and Applied Finance Explorer is 0.89 (i.e., Very poor 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

Good diversification

The correlation between Applied Finance Select and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Finance Select 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 Select. 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 bureau of economic analysis.

Moving together with Applied Mutual Fund

0.78	AFALX	Applied Finance Core	Pair Corr
0.84	AFAZX	Applied Finance Core	Pair Corr
0.81	AFDVX	Applied Finance Explorer	Pair Corr
0.82	AFDZX	Applied Finance Explorer	Pair Corr
1.0	AFVZX	Applied Finance Select	Pair Corr
0.69	VVIAX	Vanguard Value Index	Pair Corr
0.69	DOXGX	Dodge Cox Stock	Pair Corr
0.74	AFMFX	American Mutual	Pair Corr
0.74	FFMMX	American Funds American	Pair Corr
0.74	FFFMX	American Funds American	Pair Corr
0.74	AMRMX	American Mutual	Pair Corr
0.82	AMFFX	American Mutual	Pair Corr
0.74	AMFCX	American Mutual	Pair Corr
0.67	DODGX	Dodge Stock Fund	Pair Corr
0.69	VIVAX	Vanguard Value Index	Pair Corr

Moving against Applied Mutual Fund

0.47	COSRX	Columbia Overseas	Pair Corr
0.58	MCSVX	Mainstay Vertible	Pair Corr

Related Correlations Analysis

	AFDVX	AFVZX	NESGX	BCSVX	TSCSX
AFDVX		0.81	0.85	0.76	0.96	AFDVX
AFVZX	0.81		0.5	0.77	0.67	AFVZX
NESGX	0.85	0.5		0.62	0.93	NESGX
BCSVX	0.76	0.77	0.62		0.64	BCSVX
TSCSX	0.96	0.67	0.93	0.64		TSCSX
	AFDVX	AFVZX	NESGX	BCSVX	TSCSX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
AFDVX	0.81	(0.17)	1.51	1.55	(1.93)	4.58
AFVZX	0.68	(0.11)	0.57	1.08	(1.67)	3.57
NESGX	1.45	(0.20)	(0.20)	2.46	(3.64)	8.46
BCSVX	0.83	(0.04)	(0.08)	1.92	(1.78)	5.46
TSCSX	0.82	(0.23)	1.69	1.38	(2.10)	4.25

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