Madison Mid Correlations

MMCRX Fund

USD 16.07 0.02 0.12%

The current 90-days correlation between Madison Mid Cap and Payden High Income is 0.38 (i.e., Weak diversification). The correlation of Madison Mid 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 Mid Correlation With Market

Poor diversification

The correlation between Madison Mid Cap and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Mid Cap 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 Mid Cap. 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

0.9	MNVAX	Madison Investors	Pair Corr
0.9	MNVRX	Madison Investors	Pair Corr
0.96	BVAOX	Broadview Opportunity	Pair Corr
0.7	MAGSX	Madison Aggressive	Pair Corr
0.96	MSCIX	Madison Small Cap	Pair Corr
0.96	MSCRX	Madison Small Cap	Pair Corr
0.96	MASMX	Madison Small Cap	Pair Corr
0.85	MDCIX	Madison Mid Cap	Pair Corr
0.72	MENAX	Madison Ered Call	Pair Corr
0.72	MENIX	Madison Funds	Pair Corr
0.62	MENRX	Madison Ered Call	Pair Corr
0.72	MENYX	Madison Ered Call	Pair Corr
1.0	MERAX	Madison Mid Cap	Pair Corr
0.9	MINVX	Madison Investors	Pair Corr
0.9	MIVIX	Madison Investors	Pair Corr
0.85	GTSGX	Madison Mid Cap	Pair Corr

Moving against Madison Mutual Fund

0.6	MBORX	Madison Funds	Pair Corr
0.59	MBOYX	Madison E Bond	Pair Corr
0.58	MBOIX	Madison Core Bond	Pair Corr
0.58	MBOAX	Madison E Bond	Pair Corr
0.65	MIIBX	Madison High Quality	Pair Corr
0.47	MIIRX	Madison Funds	Pair Corr
0.34	MINAX	Madison International	Pair Corr
0.34	MINYX	Madison International	Pair Corr

Related Correlations Analysis

	PYRLX	ARTFX	PHDTX	MHCAX	TFHAX	FHHIX	WAHYX
PYRLX		0.81	0.84	0.98	0.81	0.9	0.91	PYRLX
ARTFX	0.81		0.94	0.81	0.79	0.75	0.79	ARTFX
PHDTX	0.84	0.94		0.83	0.86	0.85	0.84	PHDTX
MHCAX	0.98	0.81	0.83		0.85	0.93	0.94	MHCAX
TFHAX	0.81	0.79	0.86	0.85		0.94	0.95	TFHAX
FHHIX	0.9	0.75	0.85	0.93	0.94		0.97	FHHIX
WAHYX	0.91	0.79	0.84	0.94	0.95	0.97		WAHYX
	PYRLX	ARTFX	PHDTX	MHCAX	TFHAX	FHHIX	WAHYX

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 Mid 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 Mid'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
PYRLX	0.13	0.02	0.35	0.14	0.00	(0.21)	0.32	(0.16)	1.11
ARTFX	0.13	0.00	0.34	(0.01)	0.10	(0.20)	0.44	(0.22)	0.89
PHDTX	0.12	0.00	0.27	0.10	0.13	(0.15)	0.22	(0.23)	0.79
MHCAX	0.11	0.02	0.36	0.18	0.00	(0.22)	0.19	(0.19)	0.77
TFHAX	0.11	0.01	0.38	0.60	0.00	(0.15)	0.21	(0.21)	0.82
FHHIX	0.11	0.02	0.41	0.17	0.00	(0.16)	0.21	(0.21)	0.83
WAHYX	0.16	0.03	0.38	0.21	0.00	(0.23)	0.43	(0.29)	1.02

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