Amana Developing Correlations

Mutual Funds . USA . 
Fund . Amana Developing World
AMDWX Fund  USD 13.52  0.03  0.22%   
The current 90-days correlation between Amana Developing World and Amana Income Fund is 0.71 (i.e., Poor diversification). The correlation of Amana Developing 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.

Amana Developing Correlation With Market

Very weak diversification

The correlation between Amana Developing World and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amana Developing World 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 Amana Developing World. 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 housing.

Moving together with Amana Mutual Fund

  1.0AMIDX Amana Developing WorldPairCorr
  0.73AMINX Amana IncomePairCorr
  0.61AMIPX Amana ParticipationPairCorr
  0.74AMANX Amana IncomePairCorr
  0.63VEIEX Vanguard Emerging MarketsPairCorr
  0.63VEMIX Vanguard Emerging MarketsPairCorr
  0.63VEMRX Vanguard Emerging MarketsPairCorr
  0.76FWWNX American Funds NewPairCorr
  0.76FNFWX American Funds NewPairCorr
  0.85NEWFX New World FundPairCorr
  0.85NWFFX New World FundPairCorr
  0.86NEWCX New World FundPairCorr
  0.85ODVYX Oppenheimer DevelopingPairCorr
  0.78NHS Neuberger Berman HighPairCorr
  0.63FFTWX Fidelity Freedom 2025PairCorr

Moving against Amana Mutual Fund

  0.47TLCYX Touchstone Large CapPairCorr
  0.39SAGAX Ridgeworth InnovativePairCorr
  0.36GAB Gabelli Equity TrustPairCorr
  0.35AMVYX Mid Cap ValuePairCorr

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   
IMANX
+ 0.91
ADJEX
AMAGX
+ 0.83
AMANX
IMANX
+ 0.77
AMAGX
ADJEX
+ 0.73
AMAGX
IMANX
+ 0.52
AMANX
ADJEX
+ 0.45
AMANX
  
High negative correlations   
IMANX
- 0.25
AMAPX
ADJEX
- 0.08
AMAPX

Risk-Adjusted Indicators

There is a big difference between Amana Mutual Fund performing well and Amana Developing 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 Amana Developing'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.

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