New Germany Correlations

GF Fund

USD 9.04 0.04 0.44%

The correlation of New Germany 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.

New Germany Correlation With Market

Very weak diversification

The correlation between New Germany Closed and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Germany Closed and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in New Germany Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with New Fund

0.91	TDF	Templeton Dragon Closed	Pair Corr
0.79	SWZ	Swiss Helvetia Closed	Pair Corr
0.77	EMD	Western Asset Emerging	Pair Corr
0.84	LIFAX	Lord Abbett Inflation	Pair Corr
0.95	IAFEX	Fisher All Foreign	Pair Corr
0.76	NLSAX	Neuberger Berman Long	Pair Corr
0.88	HLDSX	Hartford Emerging	Pair Corr
0.86	GSHRX	Goldman Sachs High	Pair Corr
0.84	FFALX	Franklin Founding Funds	Pair Corr
0.97	RRIGX	T Rowe Price	Pair Corr
0.67	VTRSX	Voya Target Retirement	Pair Corr
0.84	HERAX	Hartford Emerging Markets	Pair Corr
0.87	GUHYX	Victory High Yield	Pair Corr
0.76	SDGFX	Sdit Short Duration	Pair Corr
0.81	BATIX	Bmo Tch Porate	Pair Corr
0.92	EMBYX	Unconstrained Emerging	Pair Corr
0.88	DFXIX	Dfa Diversified Fixed	Pair Corr
0.85	NCMFX	Virtus Multi Sector	Pair Corr
0.84	PSDAX	Short Duration Municipal	Pair Corr
0.78	VFSUX	Vanguard Short Term	Pair Corr
0.83	TREMX	T Rowe Price	Pair Corr
0.94	STEYX	International Strategic	Pair Corr
0.92	GHVIX	Gmo High Yield	Pair Corr
0.87	BKMBX	Blackrock Systematic	Pair Corr
0.89	RFJTX	American Funds 2015	Pair Corr
0.88	RWDNX	Redwood Managed Vola	Pair Corr
0.9	RNOTX	Rivernorthoaktree High	Pair Corr
0.67	PAIDX	Pimco Short Asset	Pair Corr
0.87	GSZAX	Goldman Sachs Strategic	Pair Corr
0.96	BISAX	Brandes International	Pair Corr
0.72	NUW	Nuveen Amt Free	Pair Corr
0.83	TMACX	Touchstone Arbitrage	Pair Corr
0.92	PIMIX	Pimco Income	Pair Corr
0.85	MIAKX	Mfs Inflation Adjusted	Pair Corr

Moving against New Fund

0.37

IFN

India Closed

Pair Corr

Related Correlations Analysis

	FDEU	EICA	HYI	NNY	HIO	GDO	EHI	EEA	HTY	CMU
FDEU		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	FDEU
EICA	0.0		0.69	0.33	0.77	0.38	0.78	0.73	0.0	0.2	EICA
HYI	0.0	0.69		0.75	0.75	0.77	0.82	0.92	0.0	0.59	HYI
NNY	0.0	0.33	0.75		0.45	0.88	0.47	0.67	0.0	0.87	NNY
HIO	0.0	0.77	0.75	0.45		0.56	0.71	0.75	0.0	0.37	HIO
GDO	0.0	0.38	0.77	0.88	0.56		0.62	0.74	0.0	0.86	GDO
EHI	0.0	0.78	0.82	0.47	0.71	0.62		0.8	0.0	0.34	EHI
EEA	0.0	0.73	0.92	0.67	0.75	0.74	0.8		0.0	0.52	EEA
HTY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HTY
CMU	0.0	0.2	0.59	0.87	0.37	0.86	0.34	0.52	0.0		CMU
	FDEU	EICA	HYI	NNY	HIO	GDO	EHI	EEA	HTY	CMU

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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

EEA	+ 0.92	HYI
GDO	+ 0.88	NNY
CMU	+ 0.87	NNY
CMU	+ 0.86	GDO
EHI	+ 0.82	HYI
EEA	+ 0.8	EHI

High negative correlations

CMU	- 0.0	HTY
HTY	- 0.0	EEA
HTY	- 0.0	EHI
HTY	- 0.0	GDO
HTY	- 0.0	HIO
HTY	- 0.0	NNY

Risk-Adjusted Indicators

There is a big difference between New Fund performing well and New Germany 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 New Germany'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
FDEU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EICA	0.29	0.03	0.14	0.50	0.26	(0.36)	0.72	(0.67)	2.87
HYI	0.39	0.02	0.08	0.07	0.44	(0.40)	0.77	(0.84)	1.70
NNY	0.37	0.02	0.08	0.08	0.38	(0.45)	0.87	(0.72)	1.74
HIO	0.43	0.07	0.17	0.26	0.31	(0.62)	0.79	(0.77)	3.64
GDO	0.46	0.03	0.07	0.15	0.64	(0.51)	0.98	(0.92)	3.70
EHI	0.49	0.06	0.12	0.16	0.51	(0.57)	1.09	(1.06)	3.66
EEA	0.60	0.13	0.19	0.41	0.57	(0.71)	1.56	(1.32)	3.61
HTY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CMU	0.41	0.03	0.07	0.08	0.48	(0.48)	0.87	(0.86)	2.27

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