Cavanal Hill Correlations

APSXX Fund

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The current 90-days correlation between Cavanal Hill Funds and Delaware Investments Ultrashort is 0.31 (i.e., Weak diversification). The correlation of Cavanal Hill 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.

Cavanal Hill Correlation With Market

Good diversification

The correlation between Cavanal Hill Funds and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cavanal Hill Funds 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 Cavanal Hill Funds. Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Cavanal Money Market Fund

0.71	CSCO	Cisco Systems	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.72	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against Cavanal Money Market Fund

0.56	CGSIX	Calamos Global Susta	Pair Corr
0.5	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.6	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.49	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.38	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.37	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	DULTX	GTLSX	ASTIX	CMGUX	ATOAX	FTFZX	BIIPX
DULTX		0.87	0.82	0.9	0.87	0.62	-0.11	DULTX
GTLSX	0.87		0.91	0.81	0.79	0.61	-0.16	GTLSX
ASTIX	0.82	0.91		0.82	0.8	0.55	-0.15	ASTIX
CMGUX	0.9	0.81	0.82		0.99	0.43	-0.24	CMGUX
ATOAX	0.87	0.79	0.8	0.99		0.38	-0.33	ATOAX
FTFZX	0.62	0.61	0.55	0.43	0.38		0.42	FTFZX
BIIPX	-0.11	-0.16	-0.15	-0.24	-0.33	0.42		BIIPX
	DULTX	GTLSX	ASTIX	CMGUX	ATOAX	FTFZX	BIIPX

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

ATOAX	+ 0.99	CMGUX
ASTIX	+ 0.91	GTLSX
CMGUX	+ 0.9	DULTX
GTLSX	+ 0.87	DULTX
ATOAX	+ 0.87	DULTX
ASTIX	+ 0.82	DULTX

High negative correlations

BIIPX	- 0.33	ATOAX
BIIPX	- 0.24	CMGUX
BIIPX	- 0.16	GTLSX
BIIPX	- 0.15	ASTIX
BIIPX	- 0.11	DULTX

Risk-Adjusted Indicators

There is a big difference between Cavanal Money Market Fund performing well and Cavanal Hill Money Market 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 Cavanal Hill'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
DULTX	0.05	0.01	0.00	(0.73)	0.00	0.00	0.10	(0.10)	0.81
GTLSX	0.30	0.05	(0.02)	0.26	0.00	(0.40)	0.71	(0.47)	2.63
ASTIX	0.25	0.02	(0.11)	0.14	0.13	(0.30)	0.57	(0.43)	1.79
CMGUX	0.04	0.01	0.00	(0.56)	0.00	0.00	0.11	0.00	0.65
ATOAX	0.02	0.00	0.00	0.05	0.00	0.00	0.00	0.00	0.40
FTFZX	0.07	0.00	(0.55)	0.19	0.07	(0.12)	0.10	(0.19)	0.68
BIIPX	0.10	(0.01)	(0.61)	(0.28)	0.10	(0.14)	0.21	(0.21)	0.62

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