Common Stock Correlations

FMIMX Fund

USD 35.78 0.16 0.45%

The current 90-days correlation between Common Stock and Large Cap Fund is 0.62 (i.e., Poor diversification). The correlation of Common Stock 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.

Common Stock Correlation With Market

Poor diversification

The correlation between Common Stock Fund and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Common Stock Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Common Stock 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 population.

Moving together with Common Mutual Fund

1.0	FMIUX	Common Stock	Pair Corr
0.61	FMIQX	Large Cap Fund	Pair Corr
0.61	FMIHX	Large Cap Fund	Pair Corr
0.92	VIMAX	Vanguard Mid Cap	Pair Corr
0.92	VIMSX	Vanguard Mid Cap	Pair Corr
0.92	VMCPX	Vanguard Mid Cap	Pair Corr
0.92	VMCIX	Vanguard Mid Cap	Pair Corr
0.94	VEXAX	Vanguard Extended Market	Pair Corr
0.94	VEMPX	Vanguard Extended Market	Pair Corr
0.94	VIEIX	Vanguard Extended Market	Pair Corr
0.94	VSEMX	Vanguard Extended Market	Pair Corr
0.94	VEXMX	Vanguard Extended Market	Pair Corr
0.94	FSMAX	Fidelity Extended Market	Pair Corr
0.83	CISGX	Touchstone Sands Capital	Pair Corr

Moving against Common Mutual Fund

0.47	UGPIX	Ultrachina Profund	Pair Corr
0.47	UGPSX	Ultrachina Profund	Pair Corr
0.6	GF	New Germany Closed	Pair Corr
0.51	USGDX	Morgan Stanley Government	Pair Corr
0.5	BISMX	Brandes International	Pair Corr
0.47	ABNOX	Ab Bond Inflation	Pair Corr
0.47	HRBDX	Harbor Bond Fund	Pair Corr
0.45	ARBOX	Absolute Convertible	Pair Corr
0.42	EMBAX	Unconstrained Emerging	Pair Corr
0.37	DLDFX	Destinations Low Duration	Pair Corr
0.36	SAEMX	Sa Emerging Markets	Pair Corr

Related Correlations Analysis

	FMIHX	GTSGX	RYPRX	JENSX	YAFFX
FMIHX		0.66	0.57	0.5	0.42	FMIHX
GTSGX	0.66		0.91	0.82	0.34	GTSGX
RYPRX	0.57	0.91		0.88	0.52	RYPRX
JENSX	0.5	0.82	0.88		0.54	JENSX
YAFFX	0.42	0.34	0.52	0.54		YAFFX
	FMIHX	GTSGX	RYPRX	JENSX	YAFFX

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Risk-Adjusted Indicators

There is a big difference between Common Mutual Fund performing well and Common Stock 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 Common Stock'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
FMIHX	0.85	(0.20)	(0.35)	1.24	(1.44)	10.12
GTSGX	0.85	(0.16)	(0.25)	1.22	(1.69)	6.66
RYPRX	0.84	(0.11)	(0.19)	1.53	(2.03)	4.23
JENSX	0.62	(0.04)	(0.13)	1.00	(1.38)	3.40
YAFFX	0.56	0.00	(0.07)	1.02	(0.96)	2.52

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