Edgar Lomax Correlations

Mutual Funds . USA . 
Fund . Edgar Lomax Value
LOMAX Fund  USD 16.44  0.03  0.18%   
The current 90-days correlation between Edgar Lomax Value and Nationwide Small Cap is 0.83 (i.e., Very poor diversification). The correlation of Edgar Lomax 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.

Edgar Lomax Correlation With Market

Very poor diversification

The correlation between Edgar Lomax Value and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edgar Lomax Value and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Edgar Lomax Value. 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 nation.

Moving together with Edgar Mutual Fund

  0.98VVIAX Vanguard Value IndexPairCorr
  0.9DOXGX Dodge Cox StockPairCorr
  0.97AFMFX American MutualPairCorr
  0.97FFMMX American Funds AmericanPairCorr
  0.97FFFMX American Funds AmericanPairCorr
  0.97AMRMX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97AMFCX American MutualPairCorr
  0.9DODGX Dodge Stock FundPairCorr
  0.98VIVAX Vanguard Value IndexPairCorr
  0.88ASG Liberty All StarPairCorr
  0.95CII Blackrock EnhancedPairCorr
  0.85ETV Eaton Vance TaxPairCorr
  0.76CLM Cornerstone StrategicPairCorr
  0.8CRF Cornerstone StrategicPairCorr
  0.92USA Liberty All StarPairCorr
  0.89ETY Eaton Vance TaxPairCorr
  0.87NFJ Virtus Dividend InterestPairCorr
  0.92VTWAX Vanguard Total WorldPairCorr
  0.77GAB Gabelli Equity TrustPairCorr
  0.79GQLOX Gmo Quality FundPairCorr
  0.83TLCYX Touchstone Large CapPairCorr
  0.92GAPIX Goldman Sachs EquityPairCorr
  0.91VFINX Vanguard 500 IndexPairCorr
  0.93AMGIX Income GrowthPairCorr
  0.82AMVYX Mid Cap ValuePairCorr
  0.64AAAMX American Century OnePairCorr
  0.68NADCX Nationwide InvestorPairCorr
  0.88ILESX Fisher InvestmentsPairCorr
  0.9VSEQX Vanguard Strategic EquityPairCorr
  0.92VWELX Vanguard WellingtonPairCorr
  0.86PGAIX Pimco Global MultiPairCorr
  0.91WWLAX Westwood Largecap ValuePairCorr
  0.91VIIIX Vanguard InstitutionalPairCorr

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   
MUIFX
+ 1.0
GRISX
GMXAX
+ 0.99
GMRAX
GRISX
+ 0.96
GMXAX
MUIFX
+ 0.96
GMXAX
MUIFX
+ 0.93
GMRAX
GRISX
+ 0.92
GMRAX
  
High negative correlations   
GIIAX
- 0.62
GMRAX
GMXAX
- 0.59
GIIAX
MUIFX
- 0.57
GIIAX
GRISX
- 0.57
GIIAX

Risk-Adjusted Indicators

There is a big difference between Edgar Mutual Fund performing well and Edgar Lomax 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 Edgar Lomax'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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