Victory Diversified Correlations

GRINX Fund

USD 23.81 0.08 0.33%

The current 90-days correlation between Victory Diversified Stock and Conservative Balanced Allocation is 0.73 (i.e., Poor diversification). The correlation of Victory Diversified 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.

Victory Diversified Correlation With Market

Poor diversification

The correlation between Victory Diversified Stock and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Diversified Stock 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 Victory Diversified Stock. 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 board of governors.

Moving together with Victory Mutual Fund

0.84	GUHYX	Victory High Yield	Pair Corr
0.82	MMEYX	Victory Integrity	Pair Corr
0.96	MNNYX	Victory Munder Multi	Pair Corr
0.86	RSCCX	Victory Rs Small	Pair Corr
0.89	RSCYX	Victory Rs Small	Pair Corr
0.88	RSPKX	Victory Rs Partners	Pair Corr
0.88	VSOIX	Victory Sycamore Small	Pair Corr
0.88	VSORX	Victory Sycamore Small	Pair Corr
0.78	VBFIX	Victory Strategic	Pair Corr
0.96	MRIMX	Victory Integrity Mid	Pair Corr
0.94	MASCX	Victory Munder Small	Pair Corr
1.0	VDSIX	Victory Diversified Stock	Pair Corr
1.0	VDSRX	Victory Diversified Stock	Pair Corr
1.0	VDSYX	Victory Diversified Stock	Pair Corr
0.9	VEVIX	Victory Sycamore Est	Pair Corr
0.9	VEVRX	Victory Sycamore Est	Pair Corr
0.95	MCIMX	Victory Integrity Mid	Pair Corr
0.99	RGWCX	Victory Rs Growth	Pair Corr
0.96	RINCX	Victory Rs Science	Pair Corr
0.96	MGOYX	Victory Munder Mid	Pair Corr
0.95	MYIMX	Victory Integrity Mid	Pair Corr
0.99	VTSAX	Vanguard Total Stock	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.99	VTSMX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.99	VSMPX	Vanguard Total Stock	Pair Corr
0.99	VSTSX	Vanguard Total Stock	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.99	VFFSX	Vanguard 500 Index	Pair Corr
0.99	VINIX	Vanguard Institutional	Pair Corr
0.99	VIIIX	Vanguard Institutional	Pair Corr

Moving against Victory Mutual Fund

0.61	GGIFX	Victory Incore	Pair Corr
0.41	GUBGX	Victory Rs International	Pair Corr
0.4	RSIRX	Victory Rs International	Pair Corr
0.35	MSSIX	Victory Trivalent	Pair Corr
0.76	MUCCX	Victory Incore Total	Pair Corr
0.41	RIGKX	Victory Rs International	Pair Corr
0.35	MISIX	Victory Trivalent	Pair Corr
0.59	FMFFX	Fs Managed Futures	Pair Corr
0.54	BTMKX	Blackrock International	Pair Corr

Related Correlations Analysis

	SCAAX	EVFCX	PGFCX	DTICX	FPTPX	PDNIX	FZABX
SCAAX		0.61	0.63	-0.12	0.71	0.24	-0.19	SCAAX
EVFCX	0.61		0.88	0.59	0.73	0.88	0.37	EVFCX
PGFCX	0.63	0.88		0.48	0.87	0.73	0.41	PGFCX
DTICX	-0.12	0.59	0.48		0.21	0.81	0.53	DTICX
FPTPX	0.71	0.73	0.87	0.21		0.47	0.47	FPTPX
PDNIX	0.24	0.88	0.73	0.81	0.47		0.45	PDNIX
FZABX	-0.19	0.37	0.41	0.53	0.47	0.45		FZABX
	SCAAX	EVFCX	PGFCX	DTICX	FPTPX	PDNIX	FZABX

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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

PGFCX	+ 0.88	EVFCX
PDNIX	+ 0.88	EVFCX
FPTPX	+ 0.87	PGFCX
PDNIX	+ 0.81	DTICX
FPTPX	+ 0.73	EVFCX
PDNIX	+ 0.73	PGFCX

High negative correlations

FZABX	- 0.19	SCAAX
DTICX	- 0.12	SCAAX

Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory Diversified 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 Victory Diversified'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
SCAAX	0.29	0.03	(0.18)	0.23	0.00	(0.39)	0.79	(0.52)	1.41
EVFCX	0.16	0.00	(0.52)	0.12	0.05	(0.21)	0.40	(0.31)	1.12
PGFCX	0.24	0.02	(0.37)	0.49	0.20	(0.28)	0.48	(0.48)	1.24
DTICX	0.07	(0.01)	(0.85)	(0.17)	0.04	(0.14)	0.13	(0.13)	0.51
FPTPX	0.25	0.01	(0.36)	0.37	0.24	(0.28)	0.52	(0.52)	1.32
PDNIX	0.15	0.01	(0.54)	0.29	0.09	(0.20)	0.31	(0.31)	0.93
FZABX	0.70	(0.04)	0.00	(4.33)	0.00	0.00	1.18	(1.71)	4.32

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