Focused International Correlations

AFCSX Fund

USD 17.14 0.22 1.30%

The current 90-days correlation between Focused International and Mid Cap Value is 0.43 (i.e., Very weak diversification). The correlation of Focused International 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.

Focused International Correlation With Market

Very weak diversification

The correlation between Focused International Growth and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Focused International Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Focused International Growth. 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 Focused Mutual Fund

0.69	CDBCX	Diversified Bond	Pair Corr
0.7	TWACX	Short Term Government	Pair Corr
0.64	TWARX	Short Term Government	Pair Corr
0.66	TWAVX	Short Term Government	Pair Corr
0.98	TWGAX	International Growth	Pair Corr
0.98	TWIEX	International Growth	Pair Corr
0.64	TWUSX	Short Term Government	Pair Corr
0.65	TWUOX	Short Term Government	Pair Corr

Moving against Focused Mutual Fund

0.58	TWHIX	Heritage Fund Investor	Pair Corr
0.47	AMEIX	Equity Growth	Pair Corr
0.47	TWADX	Value Fund A	Pair Corr
0.46	AMDVX	Mid Cap Value	Pair Corr
0.46	AMGIX	Income Growth	Pair Corr
0.46	AMVYX	Mid Cap Value	Pair Corr
0.45	TWCCX	Ultra Fund C	Pair Corr
0.45	AMVGX	Mid Cap Value	Pair Corr
0.45	TWCUX	Ultra Fund Investor	Pair Corr
0.44	AMVRX	Mid Cap Value	Pair Corr
0.4	TWEAX	Equity Income	Pair Corr
0.39	TWEIX	Equity Income	Pair Corr
0.38	TWCAX	Select Fund A	Pair Corr
0.38	TWCIX	Select Fund Investor	Pair Corr
0.38	TWGIX	Growth Fund I	Pair Corr
0.37	TWCGX	Growth Fund Investor	Pair Corr
0.36	TWRCX	Growth Fund C	Pair Corr
0.48	TWVLX	Value Fund Investor	Pair Corr
0.45	TWUAX	Ultra Fund A	Pair Corr
0.45	TWUIX	Ultra Fund I	Pair Corr
0.45	ANOHX	American Century Small	Pair Corr
0.44	ANORX	Small Cap Growth	Pair Corr
0.44	ANONX	Small Cap Growth	Pair Corr
0.44	ANOGX	Small Cap Growth	Pair Corr
0.44	ANOIX	Small Cap Growth	Pair Corr
0.44	ANODX	Small Cap Growth	Pair Corr
0.44	ANOAX	Small Cap Growth	Pair Corr

Related Correlations Analysis

	AMDVX	AMEIX	AMGIX	CDBCX	AMKIX	TWACX	TWADX	TWCCX	TWCAX	TWCIX
AMDVX		0.83	0.91	-0.49	-0.07	-0.51	0.95	0.78	0.75	0.75	AMDVX
AMEIX	0.83		0.96	-0.78	0.21	-0.72	0.92	0.99	0.98	0.98	AMEIX
AMGIX	0.91	0.96		-0.7	0.13	-0.68	0.97	0.92	0.91	0.91	AMGIX
CDBCX	-0.49	-0.78	-0.7		-0.01	0.95	-0.67	-0.79	-0.76	-0.76	CDBCX
AMKIX	-0.07	0.21	0.13	-0.01		0.14	0.08	0.24	0.31	0.3	AMKIX
TWACX	-0.51	-0.72	-0.68	0.95	0.14		-0.66	-0.73	-0.69	-0.69	TWACX
TWADX	0.95	0.92	0.97	-0.67	0.08	-0.66		0.87	0.86	0.86	TWADX
TWCCX	0.78	0.99	0.92	-0.79	0.24	-0.73	0.87		0.99	0.99	TWCCX
TWCAX	0.75	0.98	0.91	-0.76	0.31	-0.69	0.86	0.99		1.0	TWCAX
TWCIX	0.75	0.98	0.91	-0.76	0.3	-0.69	0.86	0.99	1.0		TWCIX
	AMDVX	AMEIX	AMGIX	CDBCX	AMKIX	TWACX	TWADX	TWCCX	TWCAX	TWCIX

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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

TWCIX	+ 1.0	TWCAX
TWCCX	+ 0.99	AMEIX
TWCAX	+ 0.99	TWCCX
TWCIX	+ 0.99	TWCCX
TWCAX	+ 0.98	AMEIX
TWCIX	+ 0.98	AMEIX

High negative correlations

TWCCX	- 0.79	CDBCX
CDBCX	- 0.78	AMEIX
TWCIX	- 0.76	CDBCX
TWCAX	- 0.76	CDBCX
TWCCX	- 0.73	TWACX
TWACX	- 0.72	AMEIX

Risk-Adjusted Indicators

There is a big difference between Focused Mutual Fund performing well and Focused International 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 Focused International'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
AMDVX	0.53	(0.01)	(0.09)	0.11	0.42	(0.63)	0.89	(0.82)	3.22
AMEIX	0.55	0.02	(0.01)	0.15	0.66	(0.60)	1.12	(1.55)	3.88
AMGIX	0.54	(0.01)	(0.05)	0.12	0.43	(0.61)	1.15	(0.89)	3.48
CDBCX	0.24	(0.02)	0.00	0.39	0.00	0.00	0.43	(0.55)	1.28
AMKIX	0.75	(0.08)	0.00	(0.04)	0.00	0.00	1.51	(1.86)	4.82
TWACX	0.08	(0.01)	(0.86)	0.43	0.10	(0.14)	0.11	(0.11)	0.78
TWADX	0.48	(0.01)	(0.11)	0.11	0.39	(0.56)	0.94	(0.70)	2.91
TWCCX	0.75	0.00	(0.01)	0.13	1.14	(0.71)	1.69	(2.23)	5.13
TWCAX	0.70	(0.01)	(0.02)	0.11	1.04	(0.65)	1.70	(2.20)	5.36
TWCIX	0.70	(0.01)	(0.02)	0.12	1.04	(0.65)	1.70	(2.20)	5.37

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