Victory Diversified Correlations

GRINX Fund  USD 23.90  0.09  0.38%   
The current 90-days correlation between Victory Diversified Stock and Victory High Yield is 0.26 (i.e., Modest 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

  0.83GUHYX Victory High YieldPairCorr
  0.9GETGX Victory Sycamore EstPairCorr
  0.88MMEYX Victory IntegrityPairCorr
  1.0MNNCX Victory Munder MultiPairCorr
  1.0MNNYX Victory Munder MultiPairCorr
  0.9RSCCX Victory Rs SmallPairCorr
  0.94RSEJX Victory Rs SmallPairCorr
  0.9RSCYX Victory Rs SmallPairCorr
  0.89RSPKX Victory Rs PartnersPairCorr
  0.92RSSRX Victory Rs SelectPairCorr
  0.89VSOIX Victory Sycamore SmallPairCorr
  0.89VSOYX Victory Sycamore SmallPairCorr
  1.0VSVGX Victory Special ValuePairCorr
  1.0VSVCX Victory Special ValuePairCorr
  0.78VBFIX Victory StrategicPairCorr
  0.74VBFCX Victory StrategicPairCorr
  0.95MRIMX Victory Integrity MidPairCorr
  0.9MRVSX Victory Integrity SmallPairCorr
  0.94MAISX Victory IntegrityPairCorr
  0.94MASCX Victory Munder SmallPairCorr
  1.0VDSIX Victory Diversified StockPairCorr
  1.0VDSRX Victory Diversified StockPairCorr
  1.0VDSYX Victory Diversified StockPairCorr
  0.9VEVIX Victory Sycamore EstPairCorr
  0.9VEVYX Victory Sycamore EstPairCorr
  0.9VEVRX Victory Sycamore EstPairCorr
  0.95MCIMX Victory Integrity MidPairCorr
  0.98RGWCX Victory Rs GrowthPairCorr

Moving against Victory Mutual Fund

  0.62GGIFX Victory IncorePairCorr
  0.41GUBGX Victory Rs InternationalPairCorr
  0.4RSIRX Victory Rs InternationalPairCorr
  0.74MUCCX Victory Incore TotalPairCorr
  0.73MUCAX Victory Incore TotalPairCorr
  0.73MUCRX Victory Incore TotalPairCorr
  0.61VFFRX Victory IncorePairCorr
  0.42RIGKX Victory Rs InternationalPairCorr
  0.38MSSIX Victory TrivalentPairCorr

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   
VSPIXMNNCX
RSCYXRSCCX
RSHMXRSHCX
VSORXRSCCX
VSORXRSCYX
MNNCXGETGX
  
High negative correlations   
VSPIXGGIFX
RSCYXGGIFX
GGIFXMNNCX
RSCCXGGIFX
VSORXGGIFX
GGIFXGETGX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GUHYX  0.13  0.02 (0.49) 0.40  0.00 
 0.37 
 1.10 
GETGX  0.55 (0.04)(0.10) 0.08  0.52 
 1.17 
 3.53 
MNNCX  0.56  0.05  0.04  0.18  0.63 
 1.51 
 5.06 
GGIFX  0.07  0.00 (0.67) 0.34  0.09 
 0.15 
 0.73 
RSCCX  1.00  0.14  0.14  0.25  0.85 
 2.34 
 5.59 
RSCYX  1.00  0.14  0.14  0.25  0.89 
 2.29 
 5.60 
RSHCX  0.23  0.03 (0.22)(0.18) 0.34 
 0.51 
 1.98 
RSHMX  0.24  0.04 (0.21)(0.15) 0.36 
 0.53 
 1.98 
VSPIX  0.57  0.05  0.04  0.19  0.63 
 1.56 
 5.12 
VSORX  0.81 (0.02) 0.02  0.11  0.62 
 1.78 
 7.38