Classic Value Correlations

Mutual Funds . USA . 
Fund . Classic Value Fund
JCVIX Fund  USD 37.84  0.18  0.47%   
The current 90-days correlation between Classic Value and Delaware Investments Ultrashort is -0.05 (i.e., Good diversification). The correlation of Classic Value 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.

Classic Value Correlation With Market

Good diversification

The correlation between Classic Value Fund and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Classic Value Fund 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 Classic Value Fund. 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 gross domestic product.

Moving together with Classic Mutual Fund

  0.97FRBAX Regional BankPairCorr
  0.97FRBCX Regional BankPairCorr
  0.77JQLBX Multimanager LifestylePairCorr
  0.88JQLAX Multimanager LifestylePairCorr
  0.83JQLGX Multimanager LifestylePairCorr
  0.92JRBFX Regional BankPairCorr
  0.87JRETX J Hancock IiPairCorr
  0.97JRGRX Regional BankPairCorr
  0.84JRLQX Retirement Living ThroughPairCorr
  0.84JRLUX Multi Index 2045PairCorr
  0.85JRLWX Retirement Living ThroughPairCorr
  0.84JRLVX Retirement Living ThroughPairCorr
  0.87JRLZX Retirement Living ThroughPairCorr
  0.87JROUX J Hancock IiPairCorr
  0.87JRODX J Hancock IiPairCorr
  0.85JAAFX Jhancock Multi IndexPairCorr
  0.87JAAJX Jhancock Multi IndexPairCorr
  0.8JAAIX Alternative AssetPairCorr
  0.85JAAKX Jhancock Multi IndexPairCorr
  0.77JAAPX Alternative AssetPairCorr
  0.8JAARX Alternative AssetPairCorr
  0.72JRTGX Retirement Living ThroughPairCorr
  0.78JAASX Alternative AssetPairCorr
  0.7JRTIX Multi Index 2030PairCorr
  0.89JAAVX Jhancock MultimanagerPairCorr
  0.78JRTKX Retirement Living ThroughPairCorr

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   
ATOAX
+ 0.88
DULTX
QLENX
+ 0.86
DULTX
BXDCX
+ 0.81
VMSSX
QLENX
+ 0.79
ATOAX
BIIPX
+ 0.71
VMSSX
BXDCX
+ 0.63
DULTX
  
High negative correlations   
BIIPX
- 0.27
ATOAX
BIIPX
- 0.13
QLENX
BIIPX
- 0.08
DULTX

Risk-Adjusted Indicators

There is a big difference between Classic Mutual Fund performing well and Classic Value 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 Classic Value'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.

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