World Energy Correlations

AIWEX Fund

USD 14.79 0.10 0.67%

The current 90-days correlation between World Energy and Bond Fund Investor is 0.13 (i.e., Average diversification). The correlation of World Energy 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.

World Energy Correlation With Market

Very weak diversification

The correlation between World Energy Fund and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding World Energy 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 World Energy 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 income.

Moving together with World Mutual Fund

0.84	APLIX	Cavanal Hill Hedged	Pair Corr
0.89	APUSX	Cavanal Hill Ultra	Pair Corr
1.0	APWEX	World Energy	Pair Corr
0.87	AALIX	Astonherndon Large Cap	Pair Corr
0.9	AAUSX	Cavanal Hill Ultra	Pair Corr
1.0	AAWEX	World Energy	Pair Corr
1.0	ACWEX	World Energy	Pair Corr
0.84	AILIX	Cavanal Hill Hedged	Pair Corr
0.9	VENAX	Vanguard Energy Index	Pair Corr
0.76	FSENX	Fidelity Select Port	Pair Corr
0.73	FNRCX	Fidelity Advisor Energy	Pair Corr
0.76	FANAX	Fidelity Advisor Energy	Pair Corr
0.74	FAGNX	Fidelity Advisor Energy	Pair Corr
0.75	FANIX	Fidelity Advisor Energy	Pair Corr
0.88	IENIX	Invesco Energy	Pair Corr
0.82	FTCAX	Templeton Strained Bond	Pair Corr
0.71	PYAIX	Payden Absolute Return	Pair Corr
0.88	PYARX	Payden Absolute Return	Pair Corr
0.77	BCAAX	Brandywineglobal C	Pair Corr
0.9	VWNEX	Vanguard Windsor	Pair Corr
0.84	GVCAX	Gabelli Value	Pair Corr
0.93	AMGOX	Alger Mid Cap	Pair Corr
0.75	GOVXX	Money Market Obligations	Pair Corr
0.86	FLCNX	Fidelity Contrafund	Pair Corr

Moving against World Mutual Fund

0.75	AAENX	Strategic Enhanced Yield	Pair Corr
0.75	AIENX	Strategic Enhanced Yield	Pair Corr
0.74	APBDX	Bond Fund Investor	Pair Corr
0.74	APENX	Strategic Enhanced Yield	Pair Corr
0.74	AABOX	Bond Fund Class	Pair Corr
0.71	AIBNX	Bond Fund Institutional	Pair Corr
0.61	APSTX	Limited Duration	Pair Corr
0.59	AASTX	Limited Duration	Pair Corr
0.91	UIPIX	Ultrashort Mid Cap Steady Growth	Pair Corr
0.84	USPSX	Profunds Ultrashort	Pair Corr
0.84	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	APBDX	APENX	APLIX	APSTX	APUSX	APWEX	AABOX	AAENX	AALIX	AASTX
APBDX		1.0	-0.6	0.96	-0.61	-0.74	1.0	0.96	-0.58	0.96	APBDX
APENX	1.0		-0.6	0.96	-0.61	-0.74	1.0	0.97	-0.59	0.96	APENX
APLIX	-0.6	-0.6		-0.44	0.75	0.84	-0.6	-0.59	0.95	-0.42	APLIX
APSTX	0.96	0.96	-0.44		-0.45	-0.61	0.96	0.93	-0.42	0.99	APSTX
APUSX	-0.61	-0.61	0.75	-0.45		0.89	-0.61	-0.63	0.79	-0.45	APUSX
APWEX	-0.74	-0.74	0.84	-0.61	0.89		-0.74	-0.75	0.87	-0.59	APWEX
AABOX	1.0	1.0	-0.6	0.96	-0.61	-0.74		0.96	-0.58	0.96	AABOX
AAENX	0.96	0.97	-0.59	0.93	-0.63	-0.75	0.96		-0.59	0.93	AAENX
AALIX	-0.58	-0.59	0.95	-0.42	0.79	0.87	-0.58	-0.59		-0.41	AALIX
AASTX	0.96	0.96	-0.42	0.99	-0.45	-0.59	0.96	0.93	-0.41		AASTX
	APBDX	APENX	APLIX	APSTX	APUSX	APWEX	AABOX	AAENX	AALIX	AASTX

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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

APENX	+ 1.0	APBDX
AABOX	+ 1.0	APBDX
AABOX	+ 1.0	APENX
AASTX	+ 0.99	APSTX
AAENX	+ 0.97	APENX
APSTX	+ 0.96	APBDX

High negative correlations

AAENX	- 0.75	APWEX
AABOX	- 0.74	APWEX
APWEX	- 0.74	APENX
APWEX	- 0.74	APBDX
AAENX	- 0.63	APUSX
AABOX	- 0.61	APUSX

Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World Energy 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 World Energy'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
APBDX	0.22	(0.05)	0.00	(0.58)	0.00	0.00	0.36	(0.47)	1.18
APENX	0.20	(0.05)	0.00	(0.51)	0.00	0.00	0.34	(0.45)	1.02
APLIX	0.33	0.07	(0.05)	2.07	0.27	(0.40)	0.62	(0.70)	2.71
APSTX	0.09	(0.02)	0.00	(0.52)	0.00	0.00	0.22	(0.22)	0.54
APUSX	0.02	0.00	0.00	0.38	0.00	0.00	0.00	0.00	0.30
APWEX	0.87	0.12	0.11	0.24	0.74	(1.02)	2.04	(1.59)	5.85
AABOX	0.23	(0.05)	0.00	(0.55)	0.00	0.00	0.36	(0.59)	1.30
AAENX	0.21	(0.04)	0.00	(1.98)	0.00	0.00	0.34	(0.57)	1.15
AALIX	0.32	0.02	(0.06)	0.13	0.27	(0.39)	0.62	(0.70)	2.63
AASTX	0.09	(0.02)	0.00	(0.80)	0.00	0.00	0.21	(0.22)	0.64

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