Cargile Fund Correlations

CFNDX Fund

USD 9.10 0.02 0.22%

The current 90-days correlation between Cargile Fund and Thrivent Natural Resources is 0.18 (i.e., Average diversification). The correlation of Cargile Fund 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.

Cargile Fund Correlation With Market

Very poor diversification

The correlation between Cargile Fund and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cargile 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 Cargile 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 unemployment.

Moving together with Cargile Mutual Fund

0.92	SFEPX	Guggenheim Styleplus Potential Growth	Pair Corr
0.83	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.93	TLARX	Transamerica Large Core	Pair Corr
0.75	ARTFX	Artisan High Income	Pair Corr
0.9	BTEEX	Baron Select Funds	Pair Corr
0.9	HAGAX	Eagle Mid Cap	Pair Corr
0.82	PSHAX	Short Term Fund	Pair Corr
0.9	IGOWX	Voya Large Cap	Pair Corr
0.93	AULDX	Ultra Fund R6	Pair Corr
0.86	MLXIX	Catalyst Mlp Infrast	Pair Corr
0.86	ASIUX	Multi Asset Real	Pair Corr
0.76	RFXIX	Rational Special Sit	Pair Corr
0.78	SGYAX	Siit High Yield	Pair Corr
0.91	APSHX	Pinnacle Sherman Multi	Pair Corr
0.92	CSCRX	Columbia Small Cap	Pair Corr
0.85	PSDSX	Palmer Square Ultra	Pair Corr
0.8	CSHIX	Credit Suisse Floating	Pair Corr
0.8	AFRFX	Invesco Floating Rate	Pair Corr

Moving against Cargile Mutual Fund

0.81	HLDIX	Hartford Emerging	Pair Corr
0.8	HLDRX	Hartford Emerging	Pair Corr
0.66	BXECX	Barings Emerging Markets	Pair Corr
0.65	BXEAX	Barings Emerging Markets	Pair Corr
0.64	BXEIX	Barings Emerging Markets	Pair Corr
0.46	PAUPX	Pimco All Asset	Pair Corr
0.46	PAUIX	Pimco All Asset	Pair Corr
0.37	ABRIX	Invesco Balanced Risk	Pair Corr
0.32	PASCX	All Asset Fund	Pair Corr
0.81	HLDCX	Hartford Emerging	Pair Corr
0.81	HLDTX	Hartford Emerging	Pair Corr
0.8	HLDAX	Hartford Emerging	Pair Corr

Related Correlations Analysis

	TREIX	PNRCX	FRNRX	XEMOX	ICBAX	SBMBX	HNRGX
TREIX		-0.37	-0.09	0.76	0.64	-0.43	0.64	TREIX
PNRCX	-0.37		0.85	0.0	0.17	0.9	0.29	PNRCX
FRNRX	-0.09	0.85		0.29	0.36	0.91	0.6	FRNRX
XEMOX	0.76	0.0	0.29		0.91	-0.1	0.89	XEMOX
ICBAX	0.64	0.17	0.36	0.91		0.01	0.85	ICBAX
SBMBX	-0.43	0.9	0.91	-0.1	0.01		0.25	SBMBX
HNRGX	0.64	0.29	0.6	0.89	0.85	0.25		HNRGX
	TREIX	PNRCX	FRNRX	XEMOX	ICBAX	SBMBX	HNRGX

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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

SBMBX	+ 0.91	FRNRX
ICBAX	+ 0.91	XEMOX
SBMBX	+ 0.9	PNRCX
HNRGX	+ 0.89	XEMOX
FRNRX	+ 0.85	PNRCX
HNRGX	+ 0.85	ICBAX

High negative correlations

SBMBX	- 0.43	TREIX
PNRCX	- 0.37	TREIX
SBMBX	- 0.1	XEMOX
FRNRX	- 0.09	TREIX
XEMOX	- 0.0	PNRCX

Risk-Adjusted Indicators

There is a big difference between Cargile Mutual Fund performing well and Cargile Fund 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 Cargile Fund'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
TREIX	0.05	0.01	(0.10)	0.48	0.00	(0.10)	0.10	(0.10)	0.40
PNRCX	0.88	(0.13)	0.00	(0.21)	0.00	0.00	1.53	(1.85)	5.65
FRNRX	0.79	(0.11)	0.00	(0.70)	0.00	0.00	1.58	(1.86)	5.21
XEMOX	0.84	0.05	0.02	0.20	1.18	(0.85)	1.81	(2.42)	6.88
ICBAX	0.72	(0.04)	0.00	(0.02)	0.00	0.00	1.46	(1.17)	8.78
SBMBX	0.77	(0.16)	0.00	(1.60)	0.00	0.00	1.34	(1.83)	4.64
HNRGX	0.94	0.00	(0.01)	0.03	1.26	(0.96)	1.80	(2.32)	7.41

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