Azzad Wise Correlations
WISEX Fund | USD 10.77 0.01 0.09% |
The current 90-days correlation between Azzad Wise Capital and Touchstone Small Cap is -0.02 (i.e., Good diversification). The correlation of Azzad Wise 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.
Azzad Wise Correlation With Market
Modest diversification
The correlation between Azzad Wise Capital and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Azzad Wise Capital and DJI in the same portfolio, assuming nothing else is changed.
Azzad |
Moving together with Azzad Mutual Fund
0.68 | VBIRX | Vanguard Short Term | PairCorr |
0.65 | VFSUX | Vanguard Short Term | PairCorr |
0.84 | VFSIX | Vanguard Short Term | PairCorr |
0.87 | VFSTX | Vanguard Short Term | PairCorr |
0.81 | VBITX | Vanguard Short Term | PairCorr |
0.81 | VBISX | Vanguard Short Term | PairCorr |
0.77 | LALDX | Lord Abbett Short | PairCorr |
0.84 | VSCSX | Vanguard Short Term | PairCorr |
0.62 | LDLAX | Lord Abbett Short | PairCorr |
0.63 | LDLRX | Lord Abbett Short | PairCorr |
0.82 | CSJZX | Cohen Steers Realty | PairCorr |
0.82 | CSRSX | Cohen Steers Realty | PairCorr |
0.9 | WABIX | Wells Fargo Advantage | PairCorr |
0.8 | HERAX | Hartford Emerging Markets | PairCorr |
0.79 | GSZAX | Goldman Sachs Strategic | PairCorr |
0.78 | DPIGX | Intermediate Government | PairCorr |
0.84 | VGPMX | Vanguard Global Capital | PairCorr |
0.85 | GUHYX | Victory High Yield | PairCorr |
0.69 | LIFIX | Lord Abbett Inflation | PairCorr |
0.61 | DNYMX | Dfa Ny Municipal | PairCorr |
0.71 | RRIGX | T Rowe Price | PairCorr |
0.9 | BATIX | Bmo Tch Porate | PairCorr |
0.89 | DFXIX | Dfa Diversified Fixed | PairCorr |
0.8 | PYUSX | Payden Government | PairCorr |
0.95 | BKMBX | Blackrock Systematic | PairCorr |
0.93 | BILDX | Doubleline Infrastructure | PairCorr |
0.93 | NCMFX | Virtus Multi Sector | PairCorr |
0.88 | PYCIX | Payden Emerging Markets | PairCorr |
0.87 | BISAX | Brandes International | PairCorr |
0.91 | PIMIX | Pimco Income | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Azzad Mutual Fund performing well and Azzad Wise 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 Azzad Wise'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 | ||
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TVOYX | 0.72 | (0.13) | 0.00 | (0.34) | 0.00 | 1.20 | 4.23 | |||
EPASX | 0.48 | (0.01) | 0.00 | (0.12) | 0.00 | 0.96 | 2.69 | |||
QUAIX | 1.09 | (0.17) | 0.00 | (0.23) | 0.00 | 1.54 | 6.18 | |||
FRMPX | 0.98 | (0.15) | 0.00 | (0.22) | 0.00 | 1.52 | 6.07 | |||
CIPNX | 0.89 | (0.17) | 0.00 | (0.23) | 0.00 | 1.34 | 12.39 | |||
VVPSX | 0.73 | (0.06) | 0.00 | 0.42 | 0.00 | 1.41 | 5.29 | |||
MSSGX | 1.56 | (0.09) | 0.00 | (0.16) | 0.00 | 3.29 | 10.50 | |||
GLVIX | 0.81 | 0.09 | 0.11 | 0.09 | 0.94 | 1.39 | 5.20 |