Buffalo Discovery Correlations

BUITX Fund

USD 27.08 0.07 0.26%

The current 90-days correlation between Buffalo Discovery and Evaluator Conservative Rms is 0.56 (i.e., Very weak diversification). The correlation of Buffalo Discovery 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 Discovery Correlation With Market

Very poor diversification

The correlation between Buffalo Discovery and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Buffalo Discovery 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 Discovery. 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 estimate.

Moving together with Buffalo Mutual Fund

0.94	BUFSX	Buffalo Small Cap	Pair Corr
0.95	BUFOX	Buffalo Emerging Opp	Pair Corr
0.98	BUFMX	Buffalo Mid Cap	Pair Corr
0.94	BUFGX	Buffalo Growth	Pair Corr
0.94	BUFEX	Buffalo Large Cap	Pair Corr
0.97	BUFDX	Buffalo Dividend Focus	Pair Corr
0.68	BUFBX	Buffalo Flexible Income	Pair Corr
1.0	BUFTX	Buffalo Discovery	Pair Corr
0.95	BUIOX	Buffalo Early Stage	Pair Corr
0.94	BUIEX	Buffalo Large Cap	Pair Corr
0.96	BUIDX	Buffalo Dividend Focus	Pair Corr
0.98	PAMCX	T Rowe Price	Pair Corr
0.98	RRMGX	T Rowe Price	Pair Corr
0.98	TRQZX	T Rowe Price	Pair Corr
0.98	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
0.97	PCBIX	Midcap Fund Institutional	Pair Corr
0.97	PEMGX	Midcap Fund Class	Pair Corr
0.97	PMBCX	Midcap Fund Class	Pair Corr
0.83	BDJ	Blackrock Enhanced Equity	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.95	CII	Blackrock Enhanced	Pair Corr
0.69	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.84	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.83	HD	Home Depot	Pair Corr

Moving against Buffalo Mutual Fund

0.6	PFHCX	Pacific Funds Small	Pair Corr
0.53	BUFIX	Buffalo International	Pair Corr
0.53	BUIIX	Buffalo International	Pair Corr
0.72	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.66	KO	Coca Cola Aggressive Push	Pair Corr
0.59	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.58	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	EVFCX	OIDAX	XWDIX	ADX	PQCNX	HUDEX
EVFCX		0.4	0.43	0.2	0.39	0.35	EVFCX
OIDAX	0.4		0.73	-0.59	0.7	-0.36	OIDAX
XWDIX	0.43	0.73		-0.69	0.92	-0.57	XWDIX
ADX	0.2	-0.59	-0.69		-0.78	0.89	ADX
PQCNX	0.39	0.7	0.92	-0.78		-0.65	PQCNX
HUDEX	0.35	-0.36	-0.57	0.89	-0.65		HUDEX
	EVFCX	OIDAX	XWDIX	ADX	PQCNX	HUDEX

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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

PQCNX	+ 0.92	XWDIX
HUDEX	+ 0.89	ADX
XWDIX	+ 0.73	OIDAX
PQCNX	+ 0.7	OIDAX
XWDIX	+ 0.43	EVFCX
OIDAX	+ 0.4	EVFCX

High negative correlations

PQCNX	- 0.78	ADX
ADX	- 0.69	XWDIX
HUDEX	- 0.65	PQCNX
ADX	- 0.59	OIDAX
HUDEX	- 0.57	XWDIX
HUDEX	- 0.36	OIDAX

Risk-Adjusted Indicators

There is a big difference between Buffalo Mutual Fund performing well and Buffalo Discovery 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 Discovery'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
EVFCX	0.16	(0.01)	(0.51)	0.07	0.10	(0.21)	0.40	(0.31)	1.12
OIDAX	0.63	(0.15)	0.00	(0.14)	0.00	0.00	1.16	(1.50)	4.20
XWDIX	0.17	(0.02)	0.00	(1.84)	0.00	0.00	0.32	(0.38)	1.39
ADX	0.64	(0.01)	(0.03)	0.12	0.80	(0.66)	1.35	(1.20)	3.44
PQCNX	0.23	(0.01)	0.00	0.23	0.00	0.00	0.46	(0.69)	1.40
HUDEX	0.68	(0.06)	(0.06)	0.07	0.72	(0.74)	1.58	(1.15)	5.46

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