Mutual Of Correlations

MURNX Fund

18.19 0.32 1.79%

The current 90-days correlation between Mutual Of America and T Rowe Price is -0.07 (i.e., Good diversification). The correlation of Mutual Of 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.

Mutual Of Correlation With Market

Very weak diversification

The correlation between Mutual Of America and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mutual Of America 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 Mutual Of America. 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 board of governors.

Moving together with Mutual Mutual Fund

0.85	MAAKX	Mutual Of America	Pair Corr
0.99	MAANX	Mutual Of America	Pair Corr
0.9	MACCX	Mutual Of America	Pair Corr
0.91	MACAX	Mutual Of America	Pair Corr
0.84	MACHX	Mutual Of America	Pair Corr
0.89	MAEIX	Mutual Of America	Pair Corr
0.76	MAGKX	Mutual Of America	Pair Corr
0.83	MAMEX	Mutual Of America	Pair Corr
0.96	MAMOX	Mutual Of America	Pair Corr
0.81	MASOX	Mutual Of America	Pair Corr
0.86	MARMX	Mutual Of America	Pair Corr
0.86	MAVKX	Mutual Of America	Pair Corr
0.87	MURFX	Mutual Of America	Pair Corr
0.98	MURIX	Mutual Of America	Pair Corr
0.94	MURHX	Mutual Of America	Pair Corr
0.93	MURGX	Mutual Of America	Pair Corr
0.98	MURMX	Mutual Of America	Pair Corr
0.92	MURLX	Mutual Of America	Pair Corr
0.97	MURQX	Mutual Of America	Pair Corr
1.0	MURPX	Mutual Of America	Pair Corr
1.0	MUROX	Mutual Of America	Pair Corr
0.88	VFIFX	Vanguard Target Reti	Pair Corr
0.95	AALTX	American Funds 2050	Pair Corr
0.95	CCITX	American Funds 2050	Pair Corr
0.95	FAITX	American Funds 2050	Pair Corr
0.89	FFFHX	Fidelity Freedom 2050	Pair Corr
0.89	FZTKX	Fidelity Freedom 2050	Pair Corr
0.85	FRLPX	Fidelity Freedom Index	Pair Corr
0.91	TRJLX	T Rowe Price	Pair Corr
0.86	FIPFX	Fidelity Freedom Index	Pair Corr
0.84	VTSAX	Vanguard Total Stock	Pair Corr
0.83	VFIAX	Vanguard 500 Index	Pair Corr
0.84	VTSMX	Vanguard Total Stock	Pair Corr
0.84	VSMPX	Vanguard Total Stock	Pair Corr

Moving against Mutual Mutual Fund

0.35

PBKIX

Polen Bank Loan Trending

Pair Corr

Related Correlations Analysis

	TUHIX	PBHAX	PRHYX	FPIOX	RYIHX	NHIEX	PYRLX
TUHIX		0.95	0.95	0.96	-0.41	0.97	0.94	TUHIX
PBHAX	0.95		0.94	0.92	-0.49	0.93	0.93	PBHAX
PRHYX	0.95	0.94		0.97	-0.56	0.98	0.95	PRHYX
FPIOX	0.96	0.92	0.97		-0.58	0.98	0.97	FPIOX
RYIHX	-0.41	-0.49	-0.56	-0.58		-0.55	-0.57	RYIHX
NHIEX	0.97	0.93	0.98	0.98	-0.55		0.95	NHIEX
PYRLX	0.94	0.93	0.95	0.97	-0.57	0.95		PYRLX
	TUHIX	PBHAX	PRHYX	FPIOX	RYIHX	NHIEX	PYRLX

Click cells to compare fundamentals

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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

NHIEX	+ 0.98	PRHYX
NHIEX	+ 0.98	FPIOX
NHIEX	+ 0.97	TUHIX
FPIOX	+ 0.97	PRHYX
PYRLX	+ 0.97	FPIOX
FPIOX	+ 0.96	TUHIX

High negative correlations

RYIHX	- 0.58	FPIOX
PYRLX	- 0.57	RYIHX
RYIHX	- 0.56	PRHYX
NHIEX	- 0.55	RYIHX
RYIHX	- 0.49	PBHAX
RYIHX	- 0.41	TUHIX

Risk-Adjusted Indicators

There is a big difference between Mutual Mutual Fund performing well and Mutual Of 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 Mutual Of'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
TUHIX	0.14	0.00	0.69	0.04	0.11	(0.20)	0.36	(0.24)	1.09
PBHAX	0.15	0.01	0.54	0.00	0.12	(0.32)	0.41	(0.21)	1.05
PRHYX	0.15	(0.01)	0.52	0.05	0.14	(0.27)	0.51	(0.34)	1.19
FPIOX	0.16	(0.01)	0.56	0.21	0.17	(0.23)	0.46	(0.34)	1.16
RYIHX	0.25	0.00	0.47	(0.13)	0.25	(0.30)	0.46	(0.48)	2.36
NHIEX	0.15	(0.01)	0.56	0.11	0.15	(0.24)	0.53	(0.26)	1.07
PYRLX	0.12	0.00	0.54	0.00	0.13	(0.21)	0.31	(0.31)	0.95

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