Cavanal Hillultra Correlations

AIUSX Fund

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The current 90-days correlation between Cavanal Hillultra Short and Morningstar Municipal Bond is 0.13 (i.e., Average diversification). The correlation of Cavanal Hillultra 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.

Cavanal Hillultra Correlation With Market

Good diversification

The correlation between Cavanal Hillultra Short and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cavanal Hillultra Short 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 Cavanal Hillultra Short. 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 Cavanal Mutual Fund

0.73	APLIX	Cavanal Hill Hedged	Pair Corr
0.98	APUSX	Cavanal Hill Ultra	Pair Corr
0.85	APWEX	World Energy	Pair Corr
0.73	AALIX	Astonherndon Large Cap	Pair Corr
0.97	AAUSX	Cavanal Hill Ultra	Pair Corr
0.85	AAWEX	World Energy	Pair Corr
0.84	ACWEX	World Energy	Pair Corr
0.73	AILIX	Cavanal Hill Hedged	Pair Corr
0.85	AIWEX	World Energy	Pair Corr
0.81	VWSTX	Vanguard Short Term	Pair Corr
0.81	VWSUX	Vanguard Short Term	Pair Corr
0.86	FSLBX	Brokerage And Investment	Pair Corr
0.81	ADGAX	Ab E Opportunities	Pair Corr
0.79	FRBCX	Regional Bank	Pair Corr
0.82	USA	Liberty All Star	Pair Corr
0.77	VIVIX	Vanguard Value Index	Pair Corr
0.77	WSMRX	William Blair Small	Pair Corr
0.74	SSCCX	Small Capitalization	Pair Corr

Moving against Cavanal Mutual Fund

0.7	APBDX	Bond Fund Investor	Pair Corr
0.7	AABOX	Bond Fund Class	Pair Corr
0.68	APENX	Strategic Enhanced Yield	Pair Corr
0.68	AAENX	Strategic Enhanced Yield	Pair Corr
0.68	AIBNX	Bond Fund Institutional	Pair Corr
0.67	AIENX	Strategic Enhanced Yield	Pair Corr
0.46	APSTX	Limited Duration	Pair Corr
0.44	AASTX	Limited Duration	Pair Corr
0.42	AISTX	Limited Duration	Pair Corr
0.61	PFHCX	Pacific Funds Small	Pair Corr
0.45	NHS	Neuberger Berman High	Pair Corr
0.38	AIDYX	Diversified Municipal	Pair Corr
0.38	AIDZX	Diversified Municipal	Pair Corr
0.37	SNDPX	Diversified Municipal	Pair Corr

Related Correlations Analysis

	MSTPX	TFGXX	PRINX	AFB	FFRLFX	FYMNX	LTXFX	BIDKX
MSTPX		-0.16	0.98	0.77	0.92	0.97	0.91	0.98	MSTPX
TFGXX	-0.16		-0.17	-0.18	-0.41	-0.06	-0.29	-0.22	TFGXX
PRINX	0.98	-0.17		0.81	0.94	0.97	0.94	0.99	PRINX
AFB	0.77	-0.18	0.81		0.86	0.74	0.92	0.84	AFB
FFRLFX	0.92	-0.41	0.94	0.86		0.88	0.97	0.96	FFRLFX
FYMNX	0.97	-0.06	0.97	0.74	0.88		0.89	0.97	FYMNX
LTXFX	0.91	-0.29	0.94	0.92	0.97	0.89		0.97	LTXFX
BIDKX	0.98	-0.22	0.99	0.84	0.96	0.97	0.97		BIDKX
	MSTPX	TFGXX	PRINX	AFB	FFRLFX	FYMNX	LTXFX	BIDKX

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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

BIDKX	+ 0.99	PRINX
PRINX	+ 0.98	MSTPX
BIDKX	+ 0.98	MSTPX
FYMNX	+ 0.97	MSTPX
FYMNX	+ 0.97	PRINX
LTXFX	+ 0.97	FFRLFX

High negative correlations

FFRLFX	- 0.41	TFGXX
LTXFX	- 0.29	TFGXX
BIDKX	- 0.22	TFGXX
AFB	- 0.18	TFGXX
PRINX	- 0.17	TFGXX
TFGXX	- 0.16	MSTPX

Risk-Adjusted Indicators

There is a big difference between Cavanal Mutual Fund performing well and Cavanal Hillultra 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 Cavanal Hillultra'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
MSTPX	0.11	0.01	(0.30)	(0.12)	0.13	(0.18)	0.30	(0.30)	1.10
TFGXX	0.03	0.01	0.00	(2.04)	0.00	0.00	0.00	0.00	1.01
PRINX	0.16	0.03	(0.27)	(0.16)	0.20	(0.23)	0.44	(0.44)	1.59
AFB	0.49	0.03	(0.16)	(0.27)	0.61	(0.50)	1.12	(0.94)	2.88
FFRLFX	0.38	0.06	(0.14)	(0.10)	0.64	(0.38)	0.98	(0.90)	3.82
FYMNX	0.14	0.03	(0.30)	(0.17)	0.14	(0.21)	0.37	(0.28)	1.40
LTXFX	0.09	0.01	(0.52)	0.00	0.11	(0.13)	0.20	(0.19)	0.78
BIDKX	0.15	0.02	(0.30)	(0.14)	0.19	(0.19)	0.27	(0.45)	1.36

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