World Energy Correlations

Mutual Funds . USA . 
Fund . World Energy Fund
APWEX Fund  USD 14.55  0.13  0.89%   
The current 90-days correlation between World Energy and Versatile Bond Portfolio is 0.06 (i.e., Significant 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 0.43 (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

  0.74APLIX Cavanal Hill HedgedPairCorr
  0.74AALIX Astonherndon Large CapPairCorr
  1.0AAWEX World EnergyPairCorr
  1.0ACWEX World EnergyPairCorr
  0.74AILIX Cavanal Hill HedgedPairCorr
  1.0AIWEX World EnergyPairCorr
  0.73VENAX Vanguard Energy IndexPairCorr
  0.87FSENX Fidelity Select PortPairCorr
  0.88FNRCX Fidelity Advisor EnergyPairCorr
  0.87FANAX Fidelity Advisor EnergyPairCorr
  0.87FAGNX Fidelity Advisor EnergyPairCorr
  0.87FANIX Fidelity Advisor EnergyPairCorr
  0.63IENIX Invesco EnergyPairCorr

Moving against World Mutual Fund

  0.59APBDX Bond Fund InvestorPairCorr
  0.59AABOX Bond Fund ClassPairCorr
  0.57AIBNX Bond Fund InstitutionalPairCorr
  0.56APENX Strategic Enhanced YieldPairCorr
  0.56AAENX Strategic Enhanced YieldPairCorr
  0.56AIENX Strategic Enhanced YieldPairCorr
  0.54APSTX Limited DurationPairCorr
  0.53AASTX Limited DurationPairCorr
  0.52AISTX Limited DurationPairCorr
  0.51LIIAX Columbia Porate IncomePairCorr
  0.51SRINX Columbia Porate IncomePairCorr
  0.31AIUSX Cavanal Hillultra ShortPairCorr
  0.66USGDX Morgan Stanley GovernmentPairCorr
  0.58HRBDX Harbor Bond FundPairCorr
  0.55VICSX Vanguard Intermediate-terPairCorr
  0.54GF New Germany ClosedPairCorr
  0.5SAEMX Sa Emerging MarketsPairCorr
  0.49VSGDX Vanguard Short TermPairCorr
  0.47EMBAX Unconstrained EmergingPairCorr
  0.46ABNOX Ab Bond InflationPairCorr
  0.46BISMX Brandes InternationalPairCorr

Related Correlations Analysis

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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.

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