Ariel Appreciation Correlations

CAAPX Fund

USD 39.05 0.36 0.93%

The current 90-days correlation between Ariel Appreciation and Eaton Vance Worldwide is 0.44 (i.e., Very weak diversification). The correlation of Ariel Appreciation 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.

Ariel Appreciation Correlation With Market

Very weak diversification

The correlation between Ariel Appreciation Fund and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ariel Appreciation 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 Ariel Appreciation 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 american community survey.

Moving together with Ariel Mutual Fund

1.0	ARAIX	Ariel Fund Institutional	Pair Corr
0.97	ARFFX	Ariel Focus Fund	Pair Corr
1.0	ARGFX	Ariel Fund Investor	Pair Corr
0.97	AFOYX	Ariel Focus Fund	Pair Corr
0.95	AGLYX	Ariel Global	Pair Corr
0.95	AGLOX	Ariel Global	Pair Corr
1.0	CAAIX	Ariel Appreciation	Pair Corr
0.9	FLPKX	Fidelity Low Priced	Pair Corr
0.88	FLPSX	Fidelity Low Priced	Pair Corr
0.91	VMVAX	Vanguard Mid Cap	Pair Corr
0.92	JVMAX	John Hancock Disciplined	Pair Corr
0.95	JVMIX	John Hancock Disciplined	Pair Corr
0.92	VMVIX	Vanguard Mid Cap	Pair Corr
0.92	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.92	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.92	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.92	JMVYX	Jpmorgan Mid Cap	Pair Corr

Moving against Ariel Mutual Fund

0.57	PSDLX	Putnam Short Duration	Pair Corr
0.4	GAAKX	Gmo Alternative Allo	Pair Corr
0.38	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	ETHSX	SHSSX	RYHCX	BHSRX	LHCCX	LOGSX	ETAHX
ETHSX		0.95	0.87	0.94	0.69	0.81	0.76	ETHSX
SHSSX	0.95		0.9	1.0	0.74	0.83	0.83	SHSSX
RYHCX	0.87	0.9		0.88	0.66	0.7	0.85	RYHCX
BHSRX	0.94	1.0	0.88		0.75	0.85	0.83	BHSRX
LHCCX	0.69	0.74	0.66	0.75		0.82	0.82	LHCCX
LOGSX	0.81	0.83	0.7	0.85	0.82		0.71	LOGSX
ETAHX	0.76	0.83	0.85	0.83	0.82	0.71		ETAHX
	ETHSX	SHSSX	RYHCX	BHSRX	LHCCX	LOGSX	ETAHX

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Risk-Adjusted Indicators

There is a big difference between Ariel Mutual Fund performing well and Ariel Appreciation 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 Ariel Appreciation'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
ETHSX	0.65	0.00	0.00	(0.03)	0.00	0.00	1.24	(1.09)	5.86
SHSSX	0.65	(0.01)	0.00	(0.04)	0.00	0.00	1.32	(1.24)	5.72
RYHCX	0.62	0.02	0.04	0.02	0.80	(0.61)	1.20	(1.15)	3.36
BHSRX	0.66	(0.02)	0.00	(0.06)	0.00	0.00	1.32	(1.25)	6.19
LHCCX	0.75	(0.06)	0.00	0.21	0.00	0.00	1.30	(1.44)	4.79
LOGSX	0.63	(0.05)	0.00	(1.17)	0.00	0.00	1.18	(1.12)	4.03
ETAHX	1.12	0.00	0.00	(0.02)	0.00	0.00	2.03	(2.49)	7.13

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