Navian Waycross Correlations

WAYEX Fund

USD 16.77 0.14 0.83%

The current 90-days correlation between Navian Waycross Longshort and Fidelity Capital Income is 0.05 (i.e., Significant diversification). The correlation of Navian Waycross 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.

Navian Waycross Correlation With Market

Very weak diversification

The correlation between Navian Waycross Longshort and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Navian Waycross Longshort and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Navian Waycross Longshort. 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 income.

Moving together with Navian Mutual Fund

0.68	QLERX	Aqr Long Short	Pair Corr
0.66	PWLIX	Pimco Rae Worldwide	Pair Corr
0.7	PWLMX	Pimco Rae Worldwide	Pair Corr
0.65	CCVIX	Calamos Convertible	Pair Corr
0.64	VFFSX	Vanguard 500 Index	Pair Corr
0.63	VSMAX	Vanguard Small Cap	Pair Corr

Moving against Navian Mutual Fund

0.49

IGOIX

Rational Inflation Growth

Pair Corr

Related Correlations Analysis

	FAGIX	TAHFX	SGYAX	BUFHX	PHDTX	ARTFX
FAGIX		0.81	0.87	0.76	0.93	0.89	FAGIX
TAHFX	0.81		0.73	0.4	0.9	0.77	TAHFX
SGYAX	0.87	0.73		0.84	0.86	0.97	SGYAX
BUFHX	0.76	0.4	0.84		0.65	0.81	BUFHX
PHDTX	0.93	0.9	0.86	0.65		0.88	PHDTX
ARTFX	0.89	0.77	0.97	0.81	0.88		ARTFX
	FAGIX	TAHFX	SGYAX	BUFHX	PHDTX	ARTFX

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Risk-Adjusted Indicators

There is a big difference between Navian Mutual Fund performing well and Navian Waycross 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 Navian Waycross' 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
FAGIX	0.22	0.02	0.04	0.36	0.24	(0.27)	0.40	(0.30)	2.05
TAHFX	0.11	(0.02)	0.00	(1.11)	0.00	0.00	0.24	(0.24)	0.97
SGYAX	0.12	0.00	0.02	0.26	0.05	(0.20)	0.14	(0.28)	1.13
BUFHX	0.08	0.02	0.15	2.01	0.00	(0.12)	0.19	(0.09)	0.66
PHDTX	0.10	(0.01)	(0.04)	(0.75)	0.14	(0.12)	0.11	(0.22)	0.78
ARTFX	0.09	0.00	(0.01)	(0.31)	0.08	(0.16)	0.22	(0.22)	1.09

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