Cavanal Hill Correlations

Mutual Funds . USA . 
Fund . Cavanal Hill Hedged
APLIX Fund  USD 11.62  0.04  0.35%   
The current 90-days correlation between Cavanal Hill Hedged and Calamos Dynamic Convertible is 0.35 (i.e., Weak diversification). The correlation of Cavanal Hill 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 Hill Correlation With Market

Very poor diversification

The correlation between Cavanal Hill Hedged and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cavanal Hill Hedged 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 Hill Hedged. 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 gross domestic product.

Moving together with Cavanal Mutual Fund

  0.68APUSX Cavanal Hill UltraPairCorr
  0.9APWEX World EnergyPairCorr
  1.0AALIX Astonherndon Large CapPairCorr
  0.75AAUSX Cavanal Hill UltraPairCorr
  0.9AAWEX World EnergyPairCorr
  0.9ACWEX World EnergyPairCorr
  1.0AILIX Cavanal Hill HedgedPairCorr
  0.74AIUSX Cavanal Hillultra ShortPairCorr
  0.9AIWEX World EnergyPairCorr
  0.98JHQCX Jpmorgan Hedged EquityPairCorr
  0.98JHEQX Jpmorgan Hedged EquityPairCorr
  0.98JHQAX Jpmorgan Hedged EquityPairCorr
  0.96GTENX Gateway Fund ClassPairCorr
  0.97GTECX Gateway Fund ClassPairCorr
  0.96GTEYX Gateway Fund ClassPairCorr
  0.96GATEX Gateway Fund ClassPairCorr
  0.97JHDCX Jpmorgan Hedged EquityPairCorr
  0.97JHDRX Jpmorgan Hedged EquityPairCorr
  0.97JHDAX Jpmorgan Hedged EquityPairCorr
  0.84FTCAX Templeton Strained BondPairCorr
  0.85PYAIX Payden Absolute ReturnPairCorr
  0.84PYARX Payden Absolute ReturnPairCorr
  0.85BCAAX Brandywineglobal CPairCorr
  0.74MERDX Meridian GrowthPairCorr
  0.97VFTAX Vanguard Ftse SocialPairCorr
  0.91FSRFX Transportation PortfolioPairCorr

Moving against Cavanal Mutual Fund

  0.72APBDX Bond Fund InvestorPairCorr
  0.72AABOX Bond Fund ClassPairCorr
  0.72AIBNX Bond Fund InstitutionalPairCorr
  0.69APENX Strategic Enhanced YieldPairCorr
  0.69AAENX Strategic Enhanced YieldPairCorr
  0.67AIENX Strategic Enhanced YieldPairCorr
  0.49AISTX Limited DurationPairCorr
  0.48APSTX Limited DurationPairCorr
  0.47AASTX Limited DurationPairCorr
  0.96USPSX Profunds UltrashortPairCorr
  0.96USPIX Profunds UltrashortPairCorr
  0.93UIPIX Ultrashort Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Cavanal Mutual Fund performing well and Cavanal Hill 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 Hill'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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