New Germany Correlations

GF Fund

USD 10.25 0.17 1.63%

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 0.43 (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

0.69	PHK	Pimco High Income	Pair Corr
0.7	FFC	Flaherty Crumrine	Pair Corr
0.9	HIO	Western Asset High	Pair Corr
0.69	CKKRX	Columbia Income Builder	Pair Corr
0.68	OWCIX	Old Westbury Credit	Pair Corr
0.83	VMSIX	Vanguard Multi Sector	Pair Corr
0.72	HEMZX	Virtus Emerging Markets	Pair Corr
0.62	PCCFX	Prudential Income Builder	Pair Corr
0.91	PUGCX	Putnam Global Equity	Pair Corr
0.79	NSITX	Northern Short-intermedia	Pair Corr
0.61	CITAX	American High Income	Pair Corr
0.87	WATCX	Western Asset Interm	Pair Corr
0.68	MINFX	Mfs International Value	Pair Corr
0.66	IRFIX	Cohen Steers Interna	Pair Corr
0.89	VTMGX	Vanguard Developed	Pair Corr
0.87	REMVX	Rbc Emerging Markets	Pair Corr
0.9	ASBFX	Short Term Bond	Pair Corr
0.67	CBURX	Columbia Income Builder	Pair Corr
0.61	WCCFX	Wealthbuilder Conservative	Pair Corr
0.89	GIGGX	Deutsche Gnma	Pair Corr
0.67	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.64	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.9	HIMZX	Virtus Low Duration	Pair Corr
0.65	RBBCX	Columbia Income Builder	Pair Corr
0.93	UTDIX	My529 International Value	Pair Corr
0.89	FLRRX	Franklin Low Duration	Pair Corr
0.77	BRKRX	Mfs Blended Research	Pair Corr

Moving against New Fund

0.89	CHI	Calamos Convertible	Pair Corr
0.85	CHY	Calamos Convertible And	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		0.56	0.69	0.83	0.76	0.73	0.83	0.0	0.5	EICA
HYI	0.0	0.56		0.86	0.56	0.67	0.73	0.74	0.0	0.77	HYI
NNY	0.0	0.69	0.86		0.71	0.83	0.73	0.84	0.0	0.86	NNY
HIO	0.0	0.83	0.56	0.71		0.78	0.64	0.87	0.0	0.62	HIO
GDO	0.0	0.76	0.67	0.83	0.78		0.69	0.89	0.0	0.74	GDO
EHI	0.0	0.73	0.73	0.73	0.64	0.69		0.76	0.0	0.5	EHI
EEA	0.0	0.83	0.74	0.84	0.87	0.89	0.76		0.0	0.69	EEA
HTY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HTY
CMU	0.0	0.5	0.77	0.86	0.62	0.74	0.5	0.69	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	+ 0.89	GDO
EEA	+ 0.87	HIO
NNY	+ 0.86	HYI
CMU	+ 0.86	NNY
EEA	+ 0.84	NNY
HIO	+ 0.83	EICA

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	0.32	0.03	0.28	(1.87)	0.26	(0.40)	0.81	(0.63)	2.84
HYI	0.37	(0.02)	0.00	0.43	0.00	0.00	0.67	(0.77)	1.61
NNY	0.39	0.01	0.14	(0.03)	0.44	(0.47)	0.88	(0.74)	1.96
HIO	0.45	0.09	0.25	0.23	0.35	(0.66)	1.04	(0.76)	4.34
GDO	0.47	0.02	0.14	(0.17)	0.61	(0.57)	1.05	(0.92)	3.07
EHI	0.45	0.07	0.22	0.18	0.42	(0.56)	0.91	(0.74)	3.66
EEA	0.66	0.15	0.19	0.30	0.79	(0.74)	1.47	(1.32)	5.11
HTY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CMU	0.42	(0.05)	0.00	0.36	0.00	0.00	0.86	(1.11)	2.25

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