Iman Fund Correlations

IMANX Fund  USD 15.28  0.04  0.26%   
The current 90-days correlation between Iman Fund Class and Azzad Ethical Fund is 0.07 (i.e., Significant 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

Good diversification

The correlation between Iman Fund Class and DJI is -0.06 (i.e., Good 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

  0.87FAFGX American FundsPairCorr
  0.87FFAFX American FundsPairCorr
  0.85GFACX Growth FundPairCorr
  0.86GFAFX Growth FundPairCorr
  0.9AGTHX Growth FundPairCorr
  0.86CGFFX Growth FundPairCorr
  0.84CGFCX Growth FundPairCorr
  0.86CGFAX Growth FundPairCorr
  0.86CGFEX Growth FundPairCorr
  0.86RGAEX Growth FundPairCorr
  0.72SMPIX Semiconductor UltrasectorPairCorr
  0.73SMPSX Semiconductor UltrasectorPairCorr

Moving against Iman Mutual Fund

  0.88RYARX Inverse Sp 500 Potential GrowthPairCorr
  0.66AGIVX Invesco GovernmentPairCorr
  0.62VIITX Vanguard InstitutionalPairCorr
  0.56PRAPX Pimco Total ReturnPairCorr
  0.51DIMIX Dreyfus Short IntermPairCorr
  0.5BORIX Collegeadvantage 529PairCorr
  0.5OSIIX Oppenheimer Global StrtgcPairCorr
  0.47VEMBX Vanguard Emerging MarketsPairCorr
  0.32TEDMX Templeton DevelopingPairCorr
  0.7HIO Western Asset HighPairCorr
  0.65ACCOX International ValuePairCorr
  0.65TRIGX T Rowe PricePairCorr
  0.64FSUGX American Funds GovernmentPairCorr

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   
AMDWXADJEX
AMAGXADJEX
AMAGXAMANX
AMDWXAMAGX
AMANXADJEX
AMDWXAMANX
  
High negative correlations   
WISEXADJEX
WISEXAMDWX
WISEXAMAGX

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.