Ivy Core Correlations

WCEAX Fund

USD 19.75 0.07 0.35%

The current 90-days correlation between Ivy E Equity and Optimum Small Mid Cap is 0.87 (i.e., Very poor diversification). The correlation of Ivy Core 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.

Ivy Core Correlation With Market

Very poor diversification

The correlation between Ivy E Equity and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ivy E Equity 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 Ivy E Equity. 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 nation.

Moving together with Ivy Mutual Fund

0.9	OASGX	Optimum Small Mid	Pair Corr
0.95	OASVX	Optimum Small Mid	Pair Corr
0.81	WASAX	Ivy Asset Strategy	Pair Corr
0.78	WSGAX	Ivy Small Cap	Pair Corr
0.9	OCLVX	Optimum Large Cap	Pair Corr
0.99	OCLGX	Optimum Large Cap	Pair Corr
0.9	OCSGX	Optimum Small Mid	Pair Corr
0.94	OCSVX	Optimum Small Mid	Pair Corr
0.93	WSTAX	Ivy Science And	Pair Corr
0.84	DMO	Western Asset Mortgage	Pair Corr
0.99	OILGX	Optimum Large Cap	Pair Corr
0.95	OILVX	Optimum Large Cap	Pair Corr

Moving against Ivy Mutual Fund

0.73	OCFIX	Optimum Fixed Income	Pair Corr
0.66	DLHCX	Delaware Healthcare	Pair Corr
0.66	DLHAX	Delaware Healthcare	Pair Corr
0.66	DLRHX	Delaware Healthcare	Pair Corr
0.65	DLHIX	Delaware Healthcare	Pair Corr
0.37	FTNYX	Delaware Tax Free	Pair Corr
0.36	FTORX	First Investors Tax	Pair Corr
0.36	FTOTX	First Investors Tax	Pair Corr
0.34	CXHYX	Delaware National High	Pair Corr
0.73	DPCFX	Delaware Diversified	Pair Corr
0.73	DPRFX	Delaware Diversified	Pair Corr
0.72	OIFIX	Optimum Fixed Income	Pair Corr
0.72	DPDFX	Delaware Diversified	Pair Corr
0.71	DPFFX	Delaware Diversified	Pair Corr
0.45	DMTFX	Delaware Tax Free	Pair Corr
0.35	DMUSX	Delaware Tax Free	Pair Corr
0.34	VCTFX	Delaware Tax Free	Pair Corr

Related Correlations Analysis

	OASGX	OASVX	FICHX	FICGX	IMAAX	OCFIX	WASAX	WSGAX	OCIEX
OASGX		0.97	0.96	0.96	-0.29	-0.58	0.67	0.97	0.0	OASGX
OASVX	0.97		0.97	0.97	-0.34	-0.68	0.68	0.9	-0.01	OASVX
FICHX	0.96	0.97		1.0	-0.35	-0.69	0.7	0.88	-0.01	FICHX
FICGX	0.96	0.97	1.0		-0.35	-0.69	0.7	0.88	-0.01	FICGX
IMAAX	-0.29	-0.34	-0.35	-0.35		0.7	0.28	-0.3	0.84	IMAAX
OCFIX	-0.58	-0.68	-0.69	-0.69	0.7		-0.37	-0.46	0.28	OCFIX
WASAX	0.67	0.68	0.7	0.7	0.28	-0.37		0.54	0.64	WASAX
WSGAX	0.97	0.9	0.88	0.88	-0.3	-0.46	0.54		-0.06	WSGAX
OCIEX	0.0	-0.01	-0.01	-0.01	0.84	0.28	0.64	-0.06		OCIEX
	OASGX	OASVX	FICHX	FICGX	IMAAX	OCFIX	WASAX	WSGAX	OCIEX

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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

FICGX	+ 1.0	FICHX
OASVX	+ 0.97	OASGX
WSGAX	+ 0.97	OASGX
FICHX	+ 0.97	OASVX
FICGX	+ 0.97	OASVX
FICHX	+ 0.96	OASGX

High negative correlations

OCFIX	- 0.69	FICGX
OCFIX	- 0.69	FICHX
OCFIX	- 0.68	OASVX
OCFIX	- 0.58	OASGX
WSGAX	- 0.46	OCFIX
WASAX	- 0.37	OCFIX

Risk-Adjusted Indicators

There is a big difference between Ivy Mutual Fund performing well and Ivy Core 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 Ivy Core'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
OASGX	0.86	(0.02)	0.01	0.10	1.00	(0.93)	1.88	(1.64)	5.94
OASVX	0.79	0.00	0.04	0.12	0.67	(0.92)	1.70	(1.43)	6.37
FICHX	0.66	0.04	0.03	0.16	0.72	(0.75)	1.61	(1.64)	4.43
FICGX	0.66	0.04	0.03	0.16	0.73	(0.75)	1.63	(1.58)	4.40
IMAAX	0.34	(0.04)	0.00	(0.07)	0.00	0.00	0.62	(0.62)	2.15
OCFIX	0.23	(0.02)	0.00	0.52	0.00	0.00	0.45	(0.57)	1.26
WASAX	0.43	(0.05)	(0.16)	0.03	0.59	(0.42)	0.79	(1.09)	3.08
WSGAX	0.97	(0.07)	(0.02)	0.07	1.09	(1.11)	2.15	(1.70)	7.25
OCIEX	0.61	(0.08)	0.00	(0.05)	0.00	0.00	1.23	(1.32)	3.78

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