Ivy Small Correlations

WRGCX Fund

USD 7.69 0.02 0.26%

The current 90-days correlation between Ivy Small Cap and Virtus High Yield is 0.32 (i.e., Weak diversification). The correlation of Ivy Small 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 Small Correlation With Market

Very poor diversification

The correlation between Ivy Small Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ivy Small Cap 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 Small Cap. 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 main economic indicators.

Moving together with Ivy Mutual Fund

0.81	ILGRX	Ivy Large Cap	Pair Corr
1.0	WSCYX	Ivy Small Cap	Pair Corr
1.0	WSGRX	Ivy Small Cap	Pair Corr
0.62	WSTRX	Ivy Science And	Pair Corr
0.62	WSTYX	Ivy Science And	Pair Corr
0.62	WSTCX	Ivy Science And	Pair Corr
0.79	WTRCX	Ivy E Equity	Pair Corr
0.79	WCEYX	Ivy E Equity	Pair Corr
1.0	IRGFX	Ivy Small Cap	Pair Corr
0.92	ISPVX	Ivy Small Cap	Pair Corr
0.81	IBARX	Ivy Balanced	Pair Corr
0.62	ISTIX	Ivy Science And	Pair Corr
0.62	ISTNX	Ivy Science And	Pair Corr
0.81	IBNYX	Ivy Balanced	Pair Corr
0.81	IBNCX	Ivy Balanced	Pair Corr
0.61	ITGRX	Ivy Global Growth	Pair Corr
0.79	ICEQX	Ivy E Equity	Pair Corr

Moving against Ivy Mutual Fund

0.31	IMACX	Ivy Apollo Multi	Pair Corr
0.31	ICEIX	Ivy International	Pair Corr

Related Correlations Analysis

	PGHCX	NMHYX	ARTFX	AHYMX	MFHVX	BHYRX	MWHIX	MRHYX
PGHCX		0.93	0.97	0.79	0.89	0.96	0.76	0.93	PGHCX
NMHYX	0.93		0.91	0.69	0.87	0.89	0.71	0.9	NMHYX
ARTFX	0.97	0.91		0.8	0.9	0.9	0.71	0.9	ARTFX
AHYMX	0.79	0.69	0.8		0.62	0.8	0.76	0.69	AHYMX
MFHVX	0.89	0.87	0.9	0.62		0.78	0.42	0.94	MFHVX
BHYRX	0.96	0.89	0.9	0.8	0.78		0.84	0.88	BHYRX
MWHIX	0.76	0.71	0.71	0.76	0.42	0.84		0.55	MWHIX
MRHYX	0.93	0.9	0.9	0.69	0.94	0.88	0.55		MRHYX
	PGHCX	NMHYX	ARTFX	AHYMX	MFHVX	BHYRX	MWHIX	MRHYX

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Risk-Adjusted Indicators

There is a big difference between Ivy Mutual Fund performing well and Ivy Small 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 Small'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PGHCX	0.13	0.02	(0.36)	0.38	(0.34)	0.53	(0.26)	0.80
NMHYX	0.09	0.00	(0.73)	0.16	(0.16)	0.24	(0.23)	0.47
ARTFX	0.12	0.03	(0.64)	0.58	(0.21)	0.33	(0.22)	1.01
AHYMX	0.10	0.02	(0.35)	(0.32)	(0.18)	0.33	(0.22)	1.09
MFHVX	0.11	0.00	(0.51)	0.17	(0.16)	0.24	(0.12)	1.05
BHYRX	0.12	0.01	(0.57)	0.28	(0.21)	0.28	(0.28)	0.85
MWHIX	0.10	0.01	(0.77)	1.23	(0.19)	0.22	(0.21)	0.65
MRHYX	0.09	0.01	(0.71)	0.32	(0.14)	0.23	(0.12)	0.47

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