Iman Fund Correlations

IMANX Fund

USD 15.66 0.34 2.12%

The current 90-days correlation between Iman Fund Class and Azzad Ethical Fund is 0.38 (i.e., Weak diversification). The correlation of Iman 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.

Iman Fund Correlation With Market

Poor diversification

The correlation between Iman Fund Class and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iman Fund Class 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 Iman Fund Class. 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 Iman Mutual Fund

0.76	FAFGX	American Funds	Pair Corr
0.76	FFAFX	American Funds	Pair Corr
0.74	GFACX	Growth Fund	Pair Corr
0.76	GFAFX	Growth Fund	Pair Corr
0.76	CGFFX	Growth Fund	Pair Corr
0.74	CGFCX	Growth Fund	Pair Corr
0.76	CGFAX	Growth Fund	Pair Corr
0.76	CGFEX	Growth Fund	Pair Corr
0.76	RGAEX	Growth Fund	Pair Corr
0.64	FFBTX	Fidelity Freedom Blend	Pair Corr
0.76	GCAVX	Gmo Small Cap	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.73	HD	Home Depot	Pair Corr

Moving against Iman Mutual Fund

0.46	GAAVX	Gmo Alternative Allo	Pair Corr
0.52	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	ADJEX	AMANX	AMAGX	AMDWX	WISEX
ADJEX		0.78	0.84	0.61	0.16	ADJEX
AMANX	0.78		0.87	0.54	0.56	AMANX
AMAGX	0.84	0.87		0.72	0.18	AMAGX
AMDWX	0.61	0.54	0.72		0.08	AMDWX
WISEX	0.16	0.56	0.18	0.08		WISEX
	ADJEX	AMANX	AMAGX	AMDWX	WISEX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Iman Mutual Fund performing well and Iman 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 Iman 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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ADJEX	0.85	(0.16)	0.00	(0.25)	0.00	1.72	(2.07)	7.68
AMANX	0.64	(0.03)	0.00	(0.15)	0.00	1.05	(1.18)	5.93
AMAGX	0.78	(0.08)	0.00	(0.25)	0.00	1.14	(2.45)	5.27
AMDWX	0.61	(0.06)	0.00	(0.18)	0.00	1.06	(1.36)	4.58
WISEX	0.06	0.00	0.16	0.00	(0.12)	0.19	(0.19)	0.37

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC