Mh Elite Correlations

MHEFX Fund

USD 8.05 0.03 0.37%

The current 90-days correlation between Mh Elite Fund and Intermediate Term Bond Fund is 0.32 (i.e., Weak diversification). The correlation of Mh Elite 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.

Mh Elite Correlation With Market

Very weak diversification

The correlation between Mh Elite Fund and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mh Elite Fund 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 Mh Elite 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 census.

Moving together with MHEFX Mutual Fund

0.63	MHESX	Mh Elite Select	Pair Corr
0.76	CGRGX	American Funds Growth	Pair Corr
0.76	FPGGX	American Funds Growth	Pair Corr
0.76	FGPGX	American Funds Growth	Pair Corr
0.77	GWPCX	American Funds Growth	Pair Corr
0.76	GWPFX	American Funds Growth	Pair Corr
0.76	GWPAX	American Funds Growth	Pair Corr
0.76	CGQGX	American Funds Growth	Pair Corr
0.7	GCAVX	Gmo Small Cap	Pair Corr

Moving against MHEFX Mutual Fund

0.64	GAAVX	Gmo Alternative Allo	Pair Corr
0.84	DHEYX	Diamond Hill Short	Pair Corr
0.73	PDI	Pimco Dynamic Income	Pair Corr
0.71	GILHX	Guggenheim Limited	Pair Corr
0.69	QMHNX	Aqr Managed Futures	Pair Corr
0.67	PMAIX	Pioneer Multi Asset	Pair Corr
0.58	EICGX	Eaton Vance Greater	Pair Corr
0.54	HRLTX	Hartford Global	Pair Corr
0.52	GHVIX	Gmo High Yield	Pair Corr
0.5	LCDIX	Lord Abbett Emerging	Pair Corr
0.44	QFVRX	Pear Tree Polaris	Pair Corr
0.43	VEGBX	Vanguard Emerging Markets	Pair Corr
0.43	ANDRX	Aqr International	Pair Corr
0.42	EIISX	Parametric International	Pair Corr
0.42	BXMIX	Blackstone Alternative	Pair Corr
0.36	EMLKX	Mfs Emerging Markets	Pair Corr
0.74	AFLEX	Anfield Universal Fixed	Pair Corr
0.72	IMBAX	Voya Limited Maturity	Pair Corr
0.72	QLERX	Aqr Long Short	Pair Corr
0.69	TWACX	Short Term Government	Pair Corr

Related Correlations Analysis

	URIBX	DLTNX	ABNTX	RULFX	ELBIX	PBNAX	TCPCX
URIBX		0.99	0.93	0.56	0.84	0.99	0.94	URIBX
DLTNX	0.99		0.93	0.57	0.85	0.99	0.93	DLTNX
ABNTX	0.93	0.93		0.8	0.89	0.92	0.8	ABNTX
RULFX	0.56	0.57	0.8		0.7	0.54	0.38	RULFX
ELBIX	0.84	0.85	0.89	0.7		0.86	0.78	ELBIX
PBNAX	0.99	0.99	0.92	0.54	0.86		0.94	PBNAX
TCPCX	0.94	0.93	0.8	0.38	0.78	0.94		TCPCX
	URIBX	DLTNX	ABNTX	RULFX	ELBIX	PBNAX	TCPCX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between MHEFX Mutual Fund performing well and Mh Elite 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 Mh Elite'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
URIBX	0.24	0.00	0.41	(0.05)	0.24	(0.31)	0.55	(0.44)	1.45
DLTNX	0.23	0.01	0.44	0.08	0.21	(0.32)	0.57	(0.35)	1.40
ABNTX	0.16	0.01	0.55	0.85	0.13	(0.20)	0.30	(0.39)	1.18
RULFX	0.04	0.00	0.00	(1.78)	0.00	0.00	0.10	(0.10)	0.60
ELBIX	0.33	0.04	0.39	0.29	0.28	(0.42)	0.64	(0.48)	1.73
PBNAX	0.22	0.00	0.46	(0.09)	0.23	(0.27)	0.43	(0.43)	1.22
TCPCX	0.27	(0.01)	0.37	0.04	0.29	(0.30)	0.56	(0.45)	1.47

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