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

  0.69PHK Pimco High IncomePairCorr
  0.7FFC Flaherty CrumrinePairCorr
  0.9HIO Western Asset HighPairCorr
  0.69CKKRX Columbia Income BuilderPairCorr
  0.68OWCIX Old Westbury CreditPairCorr
  0.83VMSIX Vanguard Multi SectorPairCorr
  0.72HEMZX Virtus Emerging MarketsPairCorr
  0.62PCCFX Prudential Income BuilderPairCorr
  0.91PUGCX Putnam Global EquityPairCorr
  0.79NSITX Northern Short-intermediaPairCorr
  0.61CITAX American High IncomePairCorr
  0.87WATCX Western Asset IntermPairCorr
  0.68MINFX Mfs International ValuePairCorr
  0.66IRFIX Cohen Steers InternaPairCorr
  0.89VTMGX Vanguard DevelopedPairCorr
  0.87REMVX Rbc Emerging MarketsPairCorr
  0.9ASBFX Short Term BondPairCorr
  0.67CBURX Columbia Income BuilderPairCorr
  0.61WCCFX Wealthbuilder ConservativePairCorr
  0.89GIGGX Deutsche GnmaPairCorr
  0.67MNCIX Pro-blend(r) ConservativePairCorr
  0.64MNCRX Pro-blend(r) ConservativePairCorr
  0.9HIMZX Virtus Low DurationPairCorr
  0.65RBBCX Columbia Income BuilderPairCorr
  0.93UTDIX My529 International ValuePairCorr
  0.89FLRRX Franklin Low DurationPairCorr
  0.77BRKRX Mfs Blended ResearchPairCorr

Moving against New Fund

  0.89CHI Calamos ConvertiblePairCorr
  0.85CHY Calamos Convertible AndPairCorr

Related Correlations Analysis

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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   
EEAGDO
EEAHIO
NNYHYI
CMUNNY
EEANNY
HIOEICA
  
High negative correlations   
CMUHTY
HTYEEA
HTYEHI
HTYGDO
HTYHIO
HTYNNY

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FDEU  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 
 0.81 
 2.84 
HYI  0.37 (0.02) 0.00  0.43  0.00 
 0.67 
 1.61 
NNY  0.39  0.01  0.14 (0.03) 0.44 
 0.88 
 1.96 
HIO  0.45  0.09  0.25  0.23  0.35 
 1.04 
 4.34 
GDO  0.47  0.02  0.14 (0.17) 0.61 
 1.05 
 3.07 
EHI  0.45  0.07  0.22  0.18  0.42 
 0.91 
 3.66 
EEA  0.66  0.15  0.19  0.30  0.79 
 1.47 
 5.11 
HTY  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 
 0.86 
 2.25