Mh Elite Correlations

MHELX Fund

USD 8.83 0.13 1.49%

The current 90-days correlation between Mh Elite Small and Mh Elite Fund is 0.25 (i.e., Modest 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

Significant diversification

The correlation between Mh Elite Small and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mh Elite Small 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 Small. 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 bureau of economic analysis.

Moving together with MHELX Mutual Fund

0.89	MHEFX	Mh Elite Fund	Pair Corr
0.78	MHEIX	Mh Elite Income	Pair Corr
0.74	CGRGX	American Funds Growth	Pair Corr
0.74	FPGGX	American Funds Growth	Pair Corr
0.74	FGPGX	American Funds Growth	Pair Corr
0.61	MUTHX	Franklin Mutual Shares	Pair Corr
0.66	TESRX	Franklin Mutual Shares	Pair Corr
0.61	FMSHX	Franklin Mutual Shares	Pair Corr
0.75	GWPCX	American Funds Growth	Pair Corr
0.7	GWPFX	American Funds Growth	Pair Corr
0.74	GWPAX	American Funds Growth	Pair Corr
0.74	CGQGX	American Funds Growth	Pair Corr
0.75	KNPCX	Kinetics Paradigm	Pair Corr
0.67	WWNPX	Kinetics Paradigm	Pair Corr
0.85	LSHUX	Horizon Spin Off	Pair Corr
0.75	LSHEX	Kinetics Spin Off	Pair Corr
0.71	KMKYX	Kinetics Market Oppo Steady Growth	Pair Corr
0.66	PRCOX	T Rowe Price	Pair Corr
0.72	VFFSX	Vanguard 500 Index	Pair Corr
0.63	ADNYX	Amer Beacon Ark	Pair Corr
0.83	VBIAX	Vanguard Balanced Index	Pair Corr
0.85	ALMAX	Alger Smidcap Focus	Pair Corr
0.71	VFIAX	Vanguard 500 Index	Pair Corr
0.84	FAGIX	Fidelity Capital Income	Pair Corr
0.7	FOCIX	Fairholme Focused	Pair Corr
0.78	ASCGX	Lebenthal Lisanti Small	Pair Corr
0.84	OGEAX	Jpmorgan Equity Index	Pair Corr

Moving against MHELX Mutual Fund

0.62

IGOIX

Rational Inflation Growth

Pair Corr

Related Correlations Analysis

	MHEFX	MHEIX	MHELX	MHESX	ALMAX	PRMTX	PRGTX	VSMAX	IRDEX	FOCPX
MHEFX		0.76	0.89	-0.03	0.91	0.79	0.74	0.93	0.87	0.63	MHEFX
MHEIX	0.76		0.78	0.02	0.69	0.64	0.53	0.78	0.67	0.47	MHEIX
MHELX	0.89	0.78		0.22	0.85	0.54	0.29	0.9	0.85	0.23	MHELX
MHESX	-0.03	0.02	0.22		-0.06	-0.41	-0.39	0.0	-0.03	-0.51	MHESX
ALMAX	0.91	0.69	0.85	-0.06		0.75	0.48	0.9	0.89	0.49	ALMAX
PRMTX	0.79	0.64	0.54	-0.41	0.75		0.76	0.75	0.66	0.79	PRMTX
PRGTX	0.74	0.53	0.29	-0.39	0.48	0.76		0.61	0.4	0.93	PRGTX
VSMAX	0.93	0.78	0.9	0.0	0.9	0.75	0.61		0.74	0.47	VSMAX
IRDEX	0.87	0.67	0.85	-0.03	0.89	0.66	0.4	0.74		0.46	IRDEX
FOCPX	0.63	0.47	0.23	-0.51	0.49	0.79	0.93	0.47	0.46		FOCPX
	MHEFX	MHEIX	MHELX	MHESX	ALMAX	PRMTX	PRGTX	VSMAX	IRDEX	FOCPX

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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

VSMAX	+ 0.93	MHEFX
FOCPX	+ 0.93	PRGTX
ALMAX	+ 0.91	MHEFX
VSMAX	+ 0.9	MHELX
VSMAX	+ 0.9	ALMAX
MHELX	+ 0.89	MHEFX

High negative correlations

FOCPX	- 0.51	MHESX
PRMTX	- 0.41	MHESX
PRGTX	- 0.39	MHESX
ALMAX	- 0.06	MHESX
IRDEX	- 0.03	MHESX
MHESX	- 0.03	MHEFX

Risk-Adjusted Indicators

There is a big difference between MHELX 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
MHEFX	0.47	0.00	(0.01)	0.04	0.74	(0.65)	0.96	(0.85)	5.76
MHEIX	0.15	(0.02)	0.00	0.43	0.00	0.00	0.38	(0.19)	1.71
MHELX	0.70	0.01	0.00	0.09	1.05	(0.82)	1.62	(1.40)	9.06
MHESX	0.42	(0.05)	0.00	(0.19)	0.00	0.00	0.87	(1.02)	6.64
ALMAX	1.05	0.11	0.07	0.36	1.29	(1.11)	2.10	(1.97)	9.55
PRMTX	0.69	0.13	0.10	0.21	0.98	(0.69)	1.33	(1.68)	5.63
PRGTX	0.90	0.10	0.06	0.50	1.16	(1.00)	1.98	(2.21)	5.14
VSMAX	0.76	0.05	0.03	0.14	0.98	(0.84)	1.61	(1.19)	8.23
IRDEX	0.51	0.04	0.02	0.61	0.71	(0.61)	1.30	(1.05)	5.83
FOCPX	0.78	0.14	0.10	0.88	1.01	(0.81)	1.84	(1.61)	5.23

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