Ariel Global Correlations

AGLOX Fund

USD 13.99 0.07 0.50%

The current 90-days correlation between Ariel Global and Ariel International Fund is 0.71 (i.e., Poor diversification). The correlation of Ariel Global 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.

Ariel Global Correlation With Market

Average diversification

The correlation between Ariel Global Fund 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 Ariel Global Fund 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 Ariel Global Fund. 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 persons.

Moving together with Ariel Mutual Fund

1.0	AGLYX	Ariel Global	Pair Corr
0.74	TEDRX	Franklin Mutual Global	Pair Corr
0.72	FMDRX	Franklin Mutual Global	Pair Corr
0.94	DOXWX	Dodge Cox Global	Pair Corr
0.94	DODWX	Dodge Global Stock	Pair Corr
0.73	TEDIX	Franklin Mutual Global	Pair Corr
0.72	MDISX	Franklin Mutual Global	Pair Corr
0.74	TEDSX	Franklin Mutual Global	Pair Corr
0.68	BEGRX	Franklin Mutual Beacon	Pair Corr

Related Correlations Analysis

	AINTX	ARFFX	AGLYX	ARAIX	CAAPX
AINTX		-0.5	0.39	-0.51	-0.46	AINTX
ARFFX	-0.5		0.21	0.96	0.96	ARFFX
AGLYX	0.39	0.21		0.31	0.38	AGLYX
ARAIX	-0.51	0.96	0.31		0.99	ARAIX
CAAPX	-0.46	0.96	0.38	0.99		CAAPX
	AINTX	ARFFX	AGLYX	ARAIX	CAAPX

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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

CAAPX	+ 0.99	ARAIX
ARAIX	+ 0.96	ARFFX
CAAPX	+ 0.96	ARFFX
AGLYX	+ 0.39	AINTX
CAAPX	+ 0.38	AGLYX
ARAIX	+ 0.31	AGLYX

High negative correlations

ARAIX	- 0.51	AINTX
ARFFX	- 0.5	AINTX
CAAPX	- 0.46	AINTX

Risk-Adjusted Indicators

There is a big difference between Ariel Mutual Fund performing well and Ariel Global 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 Ariel Global'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
AINTX	0.75	0.18	0.19	0.30	0.95	(0.81)	1.65	(1.54)	4.72
ARFFX	0.81	(0.09)	0.00	(0.17)	0.00	0.00	1.36	(1.87)	4.67
AGLYX	1.02	(0.21)	0.00	(0.46)	0.00	0.00	1.21	(1.35)	23.87
ARAIX	0.96	(0.19)	0.00	(0.26)	0.00	0.00	1.54	(2.36)	8.78
CAAPX	0.93	(0.18)	0.00	(0.26)	0.00	0.00	1.26	(2.25)	8.75

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