Goodhaven Fund Correlations

GOODX Fund

USD 50.33 0.05 0.1%

The current 90-days correlation between Goodhaven Fund Goodhaven and Aqr Small Cap is 0.86 (i.e., Very poor 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

Poor diversification

The correlation between Goodhaven Fund Goodhaven and DJI is 0.75 (i.e., Poor 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

0.69	VVIAX	Vanguard Value Index	Pair Corr
0.69	VIVAX	Vanguard Value Index	Pair Corr
0.78	CISGX	Touchstone Sands Capital	Pair Corr

Moving against Goodhaven Mutual Fund

0.39	VFIUX	Vanguard Intermediate-ter	Pair Corr
0.33	UGPIX	Ultrachina Profund	Pair Corr
0.33	UGPSX	Ultrachina Profund	Pair Corr
0.44	PRCIX	T Rowe Price	Pair Corr
0.4	ZIPTMX	Jones Lang Lasalleome	Pair Corr
0.38	HOSGX	Short Term Government	Pair Corr
0.36	VFIJX	Vanguard Gnma	Pair Corr
0.36	FSHBX	Fidelity Short Term	Pair Corr
0.43	VBTLX	Vanguard Total Bond	Pair Corr
0.36	VSBSX	Vanguard Short Term	Pair Corr
0.34	MWTTX	Metropolitan West Total	Pair Corr

Related Correlations Analysis

	QSERX	HSCVX	SECAX	CIPNX	PMDDX	LMBMX
QSERX		0.97	0.96	0.92	0.92	0.99	QSERX
HSCVX	0.97		0.96	0.93	0.97	0.97	HSCVX
SECAX	0.96	0.96		0.98	0.92	0.97	SECAX
CIPNX	0.92	0.93	0.98		0.89	0.92	CIPNX
PMDDX	0.92	0.97	0.92	0.89		0.93	PMDDX
LMBMX	0.99	0.97	0.97	0.92	0.93		LMBMX
	QSERX	HSCVX	SECAX	CIPNX	PMDDX	LMBMX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
QSERX	1.00	(0.14)	(0.11)	1.89	(2.37)	5.43
HSCVX	0.81	(0.10)	(0.11)	1.45	(1.78)	3.38
SECAX	1.07	(0.25)	(0.22)	1.84	(2.57)	11.41
CIPNX	1.01	(0.23)	(0.21)	1.52	(2.00)	10.86
PMDDX	0.84	(0.09)	(0.09)	1.52	(1.78)	3.94
LMBMX	1.02	(0.15)	(0.13)	2.03	(2.43)	5.60

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