The Chesapeake Correlations

CHCGX Fund

USD 50.16 0.12 0.24%

The current 90-days correlation between Chesapeake Growth and Emerald Growth Fund is 0.86 (i.e., Very poor diversification). The correlation of The Chesapeake 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.

The Chesapeake Correlation With Market

Good diversification

The correlation between The Chesapeake Growth and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Chesapeake Growth 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 The Chesapeake Growth. 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 price.

Moving together with The Mutual Fund

0.81	AGTHX	Growth Fund	Pair Corr
0.69	GPMFX	Guidepath Managed Futures	Pair Corr

Moving against The Mutual Fund

0.66	GAAKX	Gmo Alternative Allo	Pair Corr
0.66	GAAGX	Gmo Alternative Allo	Pair Corr
0.62	USGDX	Morgan Stanley Government	Pair Corr
0.52	GPBFX	Gmo E Plus	Pair Corr
0.61	GF	New Germany Closed	Pair Corr
0.51	HRBDX	Harbor Bond Fund	Pair Corr
0.5	SAEMX	Sa Emerging Markets	Pair Corr
0.48	VICSX	Vanguard Intermediate-ter	Pair Corr
0.46	BISMX	Brandes International	Pair Corr
0.42	EMBAX	Unconstrained Emerging	Pair Corr
0.42	GIOIX	Guggenheim Macro Opp	Pair Corr
0.41	ABNOX	Ab Bond Inflation	Pair Corr
0.34	ARBOX	Absolute Convertible	Pair Corr

Related Correlations Analysis

	HSPGX	RSPYX	HWLIX	CHASX	FGROX
HSPGX		0.58	0.39	0.79	1.0	HSPGX
RSPYX	0.58		0.53	0.88	0.58	RSPYX
HWLIX	0.39	0.53		0.44	0.39	HWLIX
CHASX	0.79	0.88	0.44		0.79	CHASX
FGROX	1.0	0.58	0.39	0.79		FGROX
	HSPGX	RSPYX	HWLIX	CHASX	FGROX

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Chesapeake 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 The Chesapeake'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
HSPGX	1.21	(0.19)	0.67	1.94	(3.12)	6.56
RSPYX	0.87	(0.16)	(0.25)	1.32	(1.89)	5.17
HWLIX	0.73	0.04	(0.02)	1.36	(1.54)	3.76
CHASX	1.03	(0.10)	(0.17)	1.52	(2.90)	6.42
FGROX	1.21	(0.19)	0.66	1.90	(3.13)	6.64

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