Victory Special Correlations

SSVSX Fund

USD 30.48 0.61 2.04%

The current 90-days correlation between Victory Special Value and Stone Ridge Diversified is 0.03 (i.e., Significant diversification). The correlation of Victory Special 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.

Victory Special Correlation With Market

Poor diversification

The correlation between Victory Special Value and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Special Value and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Victory Special Value. 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 Victory Mutual Fund

0.88	SBFMX	Victory Portfolios	Pair Corr
1.0	MNNAX	Victory Munder Multi	Pair Corr
1.0	VDSCX	Victory Diversified Stock	Pair Corr
0.97	USCAX	Small Cap Stock	Pair Corr
0.97	USNQX	Nasdaq 100 Index	Pair Corr
0.99	USMIX	Extended Market Index	Pair Corr
0.99	USTCX	Science Technology	Pair Corr
0.8	RIVCX	Victory Rs Investors	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.97	VFIAX	Vanguard 500 Index	Pair Corr
0.98	VTSMX	Vanguard Total Stock	Pair Corr
0.98	VITSX	Vanguard Total Stock	Pair Corr
0.9	VSMPX	Vanguard Total Stock	Pair Corr
0.9	VSTSX	Vanguard Total Stock	Pair Corr
0.97	VFINX	Vanguard 500 Index	Pair Corr
0.88	VFFSX	Vanguard 500 Index	Pair Corr
0.97	VINIX	Vanguard Institutional	Pair Corr
0.97	VIIIX	Vanguard Institutional	Pair Corr
0.97	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.97	RYVLX	Nasdaq 100 2x	Pair Corr
0.97	RYVYX	Nasdaq 100 2x	Pair Corr
0.97	UOPIX	Ultra Nasdaq 100	Pair Corr
0.97	RYCCX	Nasdaq 100 2x	Pair Corr
0.97	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.95	INPIX	Internet Ultrasector	Pair Corr
0.89	INPSX	Internet Ultrasector	Pair Corr

Moving against Victory Mutual Fund

0.78	CBHAX	Victory Cemp Market	Pair Corr
0.71	IPFIX	Victory Incore	Pair Corr
0.53	URITX	International Fund	Pair Corr
0.53	UTESX	Tax Exempt Short	Pair Corr
0.34	REMGX	Victory Sophus Emerging	Pair Corr
0.67	USGDX	Morgan Stanley Government	Pair Corr
0.62	HRBDX	Harbor Bond Fund	Pair Corr
0.61	ABNOX	Ab Bond Inflation	Pair Corr
0.58	VICSX	Vanguard Intermediate-ter	Pair Corr
0.5	GIOIX	Guggenheim Macro Opp	Pair Corr
0.41	UTF	Cohen And Steers	Pair Corr
0.37	SGDLX	Sprott Gold Equity	Pair Corr
0.32	HTD	John Hancock Tax	Pair Corr

Related Correlations Analysis

	SRDAX	MDBLX	PGFCX	DLTZX	DIFIX	BICPX	TFCAX
SRDAX		-0.4	-0.11	-0.35	-0.33	-0.11	-0.25	SRDAX
MDBLX	-0.4		0.7	0.96	0.95	0.76	0.86	MDBLX
PGFCX	-0.11	0.7		0.63	0.82	0.93	0.6	PGFCX
DLTZX	-0.35	0.96	0.63		0.92	0.7	0.94	DLTZX
DIFIX	-0.33	0.95	0.82	0.92		0.89	0.85	DIFIX
BICPX	-0.11	0.76	0.93	0.7	0.89		0.64	BICPX
TFCAX	-0.25	0.86	0.6	0.94	0.85	0.64		TFCAX
	SRDAX	MDBLX	PGFCX	DLTZX	DIFIX	BICPX	TFCAX

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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

DLTZX	+ 0.96	MDBLX
DIFIX	+ 0.95	MDBLX
TFCAX	+ 0.94	DLTZX
BICPX	+ 0.93	PGFCX
DIFIX	+ 0.92	DLTZX
BICPX	+ 0.89	DIFIX

High negative correlations

MDBLX	- 0.4	SRDAX
DLTZX	- 0.35	SRDAX
DIFIX	- 0.33	SRDAX
TFCAX	- 0.25	SRDAX
BICPX	- 0.11	SRDAX
PGFCX	- 0.11	SRDAX

Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory Special 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 Victory Special'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
SRDAX	0.16	0.00	0.15	(0.11)	0.16	(0.20)	0.29	(0.37)	0.76
MDBLX	0.23	0.02	0.18	0.28	0.18	(0.30)	0.50	(0.38)	1.38
PGFCX	0.29	(0.01)	0.06	0.08	0.39	(0.35)	0.67	(0.48)	1.75
DLTZX	0.08	0.01	0.27	0.80	0.00	(0.18)	0.26	(0.13)	0.64
DIFIX	0.28	0.01	0.10	0.03	0.35	(0.33)	0.58	(0.57)	1.51
BICPX	0.24	0.00	0.08	(0.03)	0.31	(0.31)	0.54	(0.45)	1.55
TFCAX	0.02	0.00	0.00	0.33	0.00	0.00	0.10	0.00	0.40

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