Madison Funds Correlations

MBORX Fund

USD 8.98 0.01 0.11%

The current 90-days correlation between Madison Funds and The Hartford Equity is 0.18 (i.e., Average diversification). The correlation of Madison Funds 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.

Madison Funds Correlation With Market

Good diversification

The correlation between Madison Funds and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Funds 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 Madison Funds . 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 metropolitan statistical area.

Moving together with Madison Mutual Fund

1.0	MBOIX	Madison Core Bond	Pair Corr
1.0	MBOYX	Madison E Bond	Pair Corr
0.97	MBOAX	Madison E Bond	Pair Corr
0.71	MCOCX	Madison Conservative	Pair Corr
0.66	MCNAX	Madison Conservative	Pair Corr
0.96	MIIRX	Madison Funds	Pair Corr
0.96	MIIBX	Madison High Quality	Pair Corr
0.81	GTFHX	Madison Tax Free	Pair Corr

Moving against Madison Mutual Fund

0.75	MADAX	Madison Dividend Income	Pair Corr
0.75	MADRX	Madison Funds	Pair Corr
0.75	MDMIX	Madison Dividend Income	Pair Corr
0.74	BHBFX	Madison Dividend Income	Pair Corr
0.71	BVAOX	Broadview Opportunity	Pair Corr
0.71	MSCIX	Madison Small Cap	Pair Corr
0.71	MSCRX	Madison Small Cap	Pair Corr
0.71	MASMX	Madison Small Cap	Pair Corr
0.59	MNVAX	Madison Investors	Pair Corr
0.59	MNVRX	Madison Investors	Pair Corr
0.54	MMCRX	Madison Mid Cap	Pair Corr
0.54	MDCIX	Madison Mid Cap	Pair Corr
0.32	MAGSX	Madison Aggressive	Pair Corr
0.59	MINVX	Madison Investors	Pair Corr
0.59	MIVIX	Madison Investors	Pair Corr
0.53	MERAX	Madison Mid Cap	Pair Corr
0.53	GTSGX	Madison Mid Cap	Pair Corr
0.35	MFSIX	Mfs Series Trust	Pair Corr
0.33	MFSYX	Madison Funds	Pair Corr

Related Correlations Analysis

	HQIAX	RGELX	MFIRX	GSCYX	APDNX	OIEQX	RUSTX	DFVEX
HQIAX		0.95	0.22	0.87	0.92	0.96	0.96	0.91	HQIAX
RGELX	0.95		0.26	0.85	0.88	0.91	0.96	0.9	RGELX
MFIRX	0.22	0.26		0.18	0.27	0.13	0.13	0.16	MFIRX
GSCYX	0.87	0.85	0.18		0.91	0.91	0.92	0.98	GSCYX
APDNX	0.92	0.88	0.27	0.91		0.92	0.93	0.92	APDNX
OIEQX	0.96	0.91	0.13	0.91	0.92		0.97	0.94	OIEQX
RUSTX	0.96	0.96	0.13	0.92	0.93	0.97		0.96	RUSTX
DFVEX	0.91	0.9	0.16	0.98	0.92	0.94	0.96		DFVEX
	HQIAX	RGELX	MFIRX	GSCYX	APDNX	OIEQX	RUSTX	DFVEX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Funds 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 Madison Funds' 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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HQIAX	0.46	0.06	(0.08)	(1.59)	0.42	(0.53)	1.00	(0.85)	3.28
RGELX	0.57	0.10	(0.01)	(5.28)	0.54	(0.67)	1.31	(1.29)	3.60
MFIRX	0.10	0.00	(0.43)	0.19	0.00	(0.23)	0.19	(0.19)	0.76
GSCYX	0.85	(0.01)	0.03	0.09	0.84	(1.04)	2.14	(1.37)	7.13
APDNX	0.54	0.08	(0.04)	(1.45)	0.46	(0.66)	1.24	(0.99)	3.41
OIEQX	0.52	0.10	0.00	(2.68)	0.33	(0.64)	1.12	(0.83)	3.65
RUSTX	0.55	0.12	0.02	(17.61)	0.68	(0.60)	1.07	(1.39)	4.17
DFVEX	0.62	0.00	0.01	0.10	0.63	(0.72)	1.41	(1.06)	5.26

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