Buffalo Mid Correlations

BUFMX Fund

USD 15.72 0.01 0.06%

The current 90-days correlation between Buffalo Mid Cap and Buffalo Small Cap is 0.91 (i.e., Almost no diversification). The correlation of Buffalo Mid 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.

Buffalo Mid Correlation With Market

Poor diversification

The correlation between Buffalo Mid Cap and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Buffalo Mid Cap 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 Buffalo Mid Cap. 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 population.

Moving together with Buffalo Mutual Fund

0.92	BUFSX	Buffalo Small Cap	Pair Corr
0.9	BUFOX	Buffalo Emerging Opp	Pair Corr
0.93	BUFGX	Buffalo Growth	Pair Corr
0.93	BUFEX	Buffalo Large Cap	Pair Corr
0.82	BUFDX	Buffalo Dividend Focus	Pair Corr
0.99	BUFTX	Buffalo Discovery	Pair Corr
0.83	BUITX	Buffalo Discovery	Pair Corr
0.76	BUISX	Buffalo Small Cap	Pair Corr
1.0	BUIMX	Buffalo Mid Cap	Pair Corr
0.92	BUIOX	Buffalo Early Stage	Pair Corr
0.7	BUIEX	Buffalo Large Cap	Pair Corr
0.81	BUIDX	Buffalo Dividend Focus	Pair Corr
0.74	BIIGX	Buffalo Growth	Pair Corr
0.95	PAMCX	T Rowe Price	Pair Corr
0.94	RRMGX	T Rowe Price	Pair Corr
0.95	TRQZX	T Rowe Price	Pair Corr
0.95	RPMGX	T Rowe Price	Pair Corr
0.94	PRJIX	T Rowe Price	Pair Corr
0.94	PRNHX	T Rowe Price	Pair Corr
0.94	TRUZX	T Rowe Price	Pair Corr
0.93	PCBIX	Midcap Fund Institutional	Pair Corr
0.93	PEMGX	Midcap Fund Class	Pair Corr
0.94	PMBCX	Midcap Fund Class	Pair Corr

Moving against Buffalo Mutual Fund

0.31

FHKCX

Fidelity China Region

Pair Corr

Related Correlations Analysis

	BUFSX	BUFTX	BUFGX	BUFEX	BUFOX
BUFSX		0.93	0.95	0.95	0.96	BUFSX
BUFTX	0.93		0.93	0.94	0.91	BUFTX
BUFGX	0.95	0.93		1.0	0.93	BUFGX
BUFEX	0.95	0.94	1.0		0.93	BUFEX
BUFOX	0.96	0.91	0.93	0.93		BUFOX
	BUFSX	BUFTX	BUFGX	BUFEX	BUFOX

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Risk-Adjusted Indicators

There is a big difference between Buffalo Mutual Fund performing well and Buffalo Mid 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 Buffalo Mid'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BUFSX	0.95	(0.14)	(0.23)	1.61	(2.38)	5.15
BUFTX	0.89	(0.07)	(0.15)	1.56	(2.15)	4.89
BUFGX	0.97	(0.09)	(0.17)	1.41	(2.36)	5.97
BUFEX	0.97	(0.07)	(0.16)	1.66	(2.68)	5.39
BUFOX	0.84	(0.21)	1.67	1.58	(2.12)	4.39

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