Goodhaven Fund Correlations

GOODX Fund

USD 49.86 0.10 0.20%

The current 90-days correlation between Goodhaven Fund Goodhaven and Wisdomtree Siegel Moderate is 0.13 (i.e., Average diversification). The correlation of Goodhaven Fund 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.

Goodhaven Fund Correlation With Market

Very weak diversification

The correlation between Goodhaven Fund Goodhaven and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goodhaven Fund Goodhaven 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 Goodhaven Fund Goodhaven. 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 unemployment.

Moving together with Goodhaven Mutual Fund

0.83	VVIAX	Vanguard Value Index	Pair Corr
0.73	DOXGX	Dodge Cox Stock	Pair Corr
0.79	AFMFX	American Mutual	Pair Corr
0.85	FFMMX	American Funds American	Pair Corr
0.85	FFFMX	American Funds American	Pair Corr
0.85	AMRMX	American Mutual	Pair Corr
0.85	AMFFX	American Mutual	Pair Corr
0.85	AMFCX	American Mutual	Pair Corr
0.9	DODGX	Dodge Stock Fund	Pair Corr
0.83	VIVAX	Vanguard Value Index	Pair Corr
0.64	WHIYX	Ivy High Income	Pair Corr
0.64	IVHIX	Ivy High Income	Pair Corr
0.64	IHIFX	Ivy High Income	Pair Corr
0.61	WRHIX	Ivy High Income	Pair Corr
0.63	WHIAX	Ivy High Income	Pair Corr
0.75	CSJZX	Cohen Steers Realty	Pair Corr
0.8	CSRSX	Cohen Steers Realty	Pair Corr
0.63	NUW	Nuveen Amt Free	Pair Corr

Moving against Goodhaven Mutual Fund

0.32

PAIDX

Pimco Short Asset

Pair Corr

Related Correlations Analysis

	MODRX	JTSQX	HBAIX	BIMPX	TSIMX	BRIEX	WMBFX
MODRX		0.9	0.84	0.86	0.9	0.89	0.9	MODRX
JTSQX	0.9		0.96	0.96	0.99	0.95	0.94	JTSQX
HBAIX	0.84	0.96		0.99	0.98	0.94	0.9	HBAIX
BIMPX	0.86	0.96	0.99		0.98	0.93	0.92	BIMPX
TSIMX	0.9	0.99	0.98	0.98		0.96	0.95	TSIMX
BRIEX	0.89	0.95	0.94	0.93	0.96		0.91	BRIEX
WMBFX	0.9	0.94	0.9	0.92	0.95	0.91		WMBFX
	MODRX	JTSQX	HBAIX	BIMPX	TSIMX	BRIEX	WMBFX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Goodhaven Mutual Fund performing well and Goodhaven Fund 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 Goodhaven Fund'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
MODRX	0.32	0.01	0.01	(0.73)	0.45	(0.37)	0.56	(0.63)	2.45
JTSQX	0.48	0.01	0.01	0.03	0.77	(0.45)	0.90	(1.11)	3.28
HBAIX	0.35	0.02	0.03	0.07	0.52	(0.35)	0.62	(0.61)	2.53
BIMPX	0.31	0.02	0.04	0.09	0.38	(0.36)	0.69	(0.54)	2.39
TSIMX	0.36	0.01	0.02	0.04	0.54	(0.34)	0.66	(0.72)	2.33
BRIEX	0.24	0.02	0.03	0.07	0.31	(0.24)	0.52	(0.43)	2.06
WMBFX	0.31	0.02	0.02	0.06	0.43	(0.36)	0.58	(0.59)	2.42

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