Mid-cap Value Correlations

MLPSX Fund

USD 86.78 1.69 1.99%

The current 90-days correlation between Mid Cap Value and Aqr Global Equity is 0.63 (i.e., Poor diversification). The correlation of Mid-cap 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.

Mid-cap Value Correlation With Market

Poor diversification

The correlation between Mid Cap Value Profund and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Value Profund 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 Mid Cap Value Profund. 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 state.

Moving together with Mid-cap Mutual Fund

0.68	TEPIX	Technology Ultrasector	Pair Corr
0.63	TEPSX	Technology Ultrasector	Pair Corr
0.9	LGPIX	Large Cap Growth	Pair Corr
0.9	LGPSX	Profunds Large Cap	Pair Corr
0.88	OTPIX	Nasdaq 100 Profund	Pair Corr
0.77	UJPIX	Ultrajapan Profund	Pair Corr
0.88	OTPSX	Nasdaq 100 Profund	Pair Corr
0.77	UJPSX	Ultrajapan Profund	Pair Corr
1.0	MLPIX	Mid Cap Value	Pair Corr
0.86	BTCFX	Bitcoin Strategy Profund Steady Growth	Pair Corr
0.72	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.89	INPIX	Internet Ultrasector	Pair Corr
0.83	INPSX	Internet Ultrasector	Pair Corr
0.82	ULPIX	Ultrabull Profund	Pair Corr
0.89	ULPSX	Ultrabull Profund	Pair Corr
0.86	OEPSX	Oil Equipment Services Steady Growth	Pair Corr
0.88	CYPSX	Consumer Services Steady Growth	Pair Corr
0.83	CYPIX	Consumer Services Steady Growth	Pair Corr
0.88	OEPIX	Oil Equipment Services Steady Growth	Pair Corr
0.94	SVPIX	Small Cap Value	Pair Corr
0.93	SVPSX	Small Cap Value	Pair Corr
0.98	UMPSX	Ultramid Cap Profund	Pair Corr
0.98	UMPIX	Ultramid Cap Profund	Pair Corr

Moving against Mid-cap Mutual Fund

0.98	UIPIX	Ultrashort Mid Cap	Pair Corr
0.93	UIPSX	Ultrashort Mid Cap	Pair Corr
0.93	BRPSX	Bear Profund Bear	Pair Corr
0.85	BRPIX	Bear Profund Bear	Pair Corr
0.78	UKPIX	Ultrashort Japan Profund	Pair Corr
0.77	UKPSX	Ultrashort Japan Profund	Pair Corr
0.54	GVPIX	Us Government Plus	Pair Corr
0.53	GVPSX	Us Government Plus	Pair Corr
0.72	FDPSX	Falling Dollar Profund	Pair Corr
0.72	FDPIX	Falling Dollar Profund	Pair Corr
0.43	UNPIX	Ultrainternational	Pair Corr
0.43	UNPSX	Ultrainternational	Pair Corr

Related Correlations Analysis

	AQGNX	DBIWX	DBLGX	BXFIX	ANAGX	QGMIX	WRLDX	ANAZX
AQGNX		0.8	0.58	0.58	0.61	0.51	0.82	0.61	AQGNX
DBIWX	0.8		0.79	0.73	0.85	0.74	0.94	0.85	DBIWX
DBLGX	0.58	0.79		0.51	0.85	0.87	0.74	0.85	DBLGX
BXFIX	0.58	0.73	0.51		0.69	0.6	0.7	0.67	BXFIX
ANAGX	0.61	0.85	0.85	0.69		0.74	0.8	1.0	ANAGX
QGMIX	0.51	0.74	0.87	0.6	0.74		0.66	0.73	QGMIX
WRLDX	0.82	0.94	0.74	0.7	0.8	0.66		0.8	WRLDX
ANAZX	0.61	0.85	0.85	0.67	1.0	0.73	0.8		ANAZX
	AQGNX	DBIWX	DBLGX	BXFIX	ANAGX	QGMIX	WRLDX	ANAZX

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Risk-Adjusted Indicators

There is a big difference between Mid-cap Mutual Fund performing well and Mid-cap 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 Mid-cap 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AQGNX	1.01	(0.03)	0.00	(0.06)	0.00	0.00	1.55	(2.03)	10.40
DBIWX	0.26	0.01	0.12	(0.17)	0.32	(0.28)	0.48	(0.58)	1.77
DBLGX	0.22	0.01	0.14	0.15	0.21	(0.30)	0.48	(0.36)	1.21
BXFIX	0.08	(0.01)	0.21	0.27	0.06	(0.28)	0.23	(0.12)	0.93
ANAGX	0.18	0.00	0.12	0.04	0.19	(0.27)	0.44	(0.44)	1.46
QGMIX	0.37	0.11	0.32	(0.66)	0.18	(0.45)	0.83	(0.63)	2.42
WRLDX	0.64	(0.02)	0.00	0.09	0.00	0.00	1.24	(1.68)	2.96
ANAZX	0.18	0.00	0.12	0.03	0.18	(0.29)	0.44	(0.44)	1.32

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