Ariel Global Correlations

AGLYX Fund

USD 16.30 0.07 0.43%

The current 90-days correlation between Ariel Global and Ariel Fund Institutional is 0.69 (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

Poor diversification

The correlation between Ariel Global Fund and DJI is 0.64 (i.e., Poor 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 manufacturing.

Moving together with Ariel Mutual Fund

1.0	AGLOX	Ariel Global	Pair Corr
0.74	TEDRX	Franklin Mutual Global	Pair Corr
0.75	FMDRX	Franklin Mutual Global	Pair Corr
0.8	DOXWX	Dodge Cox Global	Pair Corr
0.9	DODWX	Dodge Global Stock	Pair Corr
0.92	TRZRX	T Rowe Price	Pair Corr
0.75	TEDIX	Franklin Mutual Global	Pair Corr
0.75	MDISX	Franklin Mutual Global	Pair Corr
0.73	TEDSX	Franklin Mutual Global	Pair Corr
0.92	PRAFX	T Rowe Price	Pair Corr
0.63	RYMEX	Commodities Strategy	Pair Corr
0.63	RYMJX	Commodities Strategy	Pair Corr
0.63	RYMBX	Commodities Strategy	Pair Corr
0.73	VASGX	Vanguard Lifestrategy	Pair Corr
0.75	JPYRX	Jpmorgan Smartretirement	Pair Corr

Moving against Ariel Mutual Fund

0.36

XGEIX

Guggenheim Energy Income

Pair Corr

Related Correlations Analysis

	ARAIX	ARFFX	ARGFX	AFOYX	AGLOX	AINTX	AINIX	CAAPX	CAAIX
ARAIX		0.97	1.0	0.97	0.19	-0.7	-0.7	0.99	0.99	ARAIX
ARFFX	0.97		0.97	1.0	0.26	-0.67	-0.67	0.97	0.98	ARFFX
ARGFX	1.0	0.97		0.97	0.19	-0.7	-0.69	0.99	0.99	ARGFX
AFOYX	0.97	1.0	0.97		0.26	-0.67	-0.67	0.97	0.98	AFOYX
AGLOX	0.19	0.26	0.19	0.26		0.47	0.47	0.17	0.17	AGLOX
AINTX	-0.7	-0.67	-0.7	-0.67	0.47		1.0	-0.69	-0.69	AINTX
AINIX	-0.7	-0.67	-0.69	-0.67	0.47	1.0		-0.68	-0.68	AINIX
CAAPX	0.99	0.97	0.99	0.97	0.17	-0.69	-0.68		1.0	CAAPX
CAAIX	0.99	0.98	0.99	0.98	0.17	-0.69	-0.68	1.0		CAAIX
	ARAIX	ARFFX	ARGFX	AFOYX	AGLOX	AINTX	AINIX	CAAPX	CAAIX

Click cells to compare fundamentals

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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

ARGFX	+ 1.0	ARAIX
AFOYX	+ 1.0	ARFFX
AINIX	+ 1.0	AINTX
CAAIX	+ 1.0	CAAPX
CAAPX	+ 0.99	ARAIX
CAAIX	+ 0.99	ARAIX

High negative correlations

AINTX	- 0.7	ARGFX
AINIX	- 0.7	ARAIX
AINTX	- 0.7	ARAIX
CAAIX	- 0.69	AINTX
CAAPX	- 0.69	AINTX
AINIX	- 0.69	ARGFX

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
ARAIX	0.79	0.00	0.01	0.13	0.74	(0.89)	1.89	(1.49)	5.63
ARFFX	0.70	(0.02)	0.00	0.11	0.58	(0.86)	1.37	(1.17)	5.90
ARGFX	0.79	0.00	0.01	0.12	0.74	(0.89)	1.89	(1.48)	5.64
AFOYX	0.71	(0.02)	0.00	0.11	0.59	(0.87)	1.37	(1.17)	5.93
AGLOX	0.53	(0.05)	(0.14)	0.04	0.63	(0.58)	1.16	(1.14)	2.90
AINTX	0.63	(0.11)	0.00	(0.28)	0.00	0.00	0.96	(1.41)	3.64
AINIX	0.63	(0.11)	0.00	(0.27)	0.00	0.00	0.97	(1.50)	3.65
CAAPX	0.78	(0.02)	0.00	0.11	0.74	(0.87)	1.74	(1.35)	5.63
CAAIX	0.78	(0.02)	0.00	0.11	0.74	(0.89)	1.78	(1.34)	5.63

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