Ariel Appreciation Correlations

CAAIX Fund

USD 45.25 0.07 0.15%

The current 90-days correlation between Ariel Appreciation and Ariel Fund Institutional is 0.97 (i.e., Almost no diversification). The correlation of Ariel Appreciation 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.

Ariel Appreciation Correlation With Market

Very poor diversification

The correlation between Ariel Appreciation Fund 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 Ariel Appreciation Fund 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 Ariel Appreciation Fund. 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 Ariel Mutual Fund

0.99	ARAIX	Ariel Fund Institutional Potential Growth	Pair Corr
0.98	ARFFX	Ariel Focus Fund	Pair Corr
0.99	ARGFX	Ariel Fund Investor Potential Growth	Pair Corr
0.98	AFOYX	Ariel Focus Fund	Pair Corr
1.0	CAAPX	Ariel Appreciation	Pair Corr
0.78	FLPKX	Fidelity Low Priced	Pair Corr
0.67	FLPSX	Fidelity Low Priced	Pair Corr
0.95	VMVAX	Vanguard Mid Cap	Pair Corr
0.97	JVMAX	John Hancock Disciplined	Pair Corr
0.97	JVMIX	John Hancock Disciplined	Pair Corr
0.95	VMVIX	Vanguard Mid Cap	Pair Corr
0.97	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.93	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.93	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.93	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.95	ASG	Liberty All Star	Pair Corr
0.88	CII	Blackrock Enhanced	Pair Corr
0.91	ETV	Eaton Vance Tax	Pair Corr
0.91	CLM	Cornerstone Strategic	Pair Corr
0.91	CRF	Cornerstone Strategic	Pair Corr
0.92	USA	Liberty All Star	Pair Corr
0.88	ETY	Eaton Vance Tax	Pair Corr
0.71	NFJ	Virtus Dividend Interest	Pair Corr
0.85	RSMRX	Rbc Smid Cap	Pair Corr
0.84	GVCIX	Gabelli Val	Pair Corr
0.93	MGRPX	Growth Portfolio Class	Pair Corr
0.77	SADIX	Wells Fargo Ultra	Pair Corr
0.97	APSHX	Pinnacle Sherman Multi	Pair Corr

Moving against Ariel Mutual Fund

0.69	AINTX	Ariel International	Pair Corr
0.69	AINIX	Ariel International	Pair Corr
0.46	IFN	India Closed	Pair Corr

Related Correlations Analysis

	ARAIX	ARFFX	ARGFX	AFOYX	AGLYX	AGLOX	AINTX	AINIX	CAAIX
ARAIX		0.97	1.0	0.97	0.2	0.19	-0.7	-0.7	0.99	ARAIX
ARFFX	0.97		0.97	1.0	0.26	0.25	-0.67	-0.67	0.98	ARFFX
ARGFX	1.0	0.97		0.97	0.2	0.19	-0.7	-0.7	0.99	ARGFX
AFOYX	0.97	1.0	0.97		0.26	0.25	-0.67	-0.67	0.98	AFOYX
AGLYX	0.2	0.26	0.2	0.26		1.0	0.46	0.46	0.18	AGLYX
AGLOX	0.19	0.25	0.19	0.25	1.0		0.47	0.47	0.17	AGLOX
AINTX	-0.7	-0.67	-0.7	-0.67	0.46	0.47		1.0	-0.69	AINTX
AINIX	-0.7	-0.67	-0.7	-0.67	0.46	0.47	1.0		-0.69	AINIX
CAAIX	0.99	0.98	0.99	0.98	0.18	0.17	-0.69	-0.69		CAAIX
	ARAIX	ARFFX	ARGFX	AFOYX	AGLYX	AGLOX	AINTX	AINIX	CAAIX

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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

ARGFX	+ 1.0	ARAIX
AFOYX	+ 1.0	ARFFX
AGLOX	+ 1.0	AGLYX
AINIX	+ 1.0	AINTX
CAAIX	+ 0.99	ARAIX
CAAIX	+ 0.99	ARGFX

High negative correlations

AINIX	- 0.7	ARGFX
AINTX	- 0.7	ARGFX
AINIX	- 0.7	ARAIX
AINTX	- 0.7	ARAIX
CAAIX	- 0.69	AINIX
CAAIX	- 0.69	AINTX

Risk-Adjusted Indicators

There is a big difference between Ariel Mutual Fund performing well and Ariel Appreciation 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 Ariel Appreciation'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
ARAIX	0.79	0.01	0.03	0.12	0.74	(0.89)	1.89	(1.49)	5.63
ARFFX	0.70	(0.01)	0.01	0.10	0.58	(0.87)	1.37	(1.17)	5.90
ARGFX	0.79	0.01	0.03	0.12	0.74	(0.89)	1.89	(1.48)	5.64
AFOYX	0.70	(0.01)	0.01	0.10	0.59	(0.88)	1.37	(1.17)	5.93
AGLYX	0.53	(0.04)	(0.12)	0.05	0.63	(0.58)	1.21	(1.12)	2.83
AGLOX	0.53	(0.04)	(0.12)	0.05	0.64	(0.57)	1.16	(1.14)	2.90
AINTX	0.63	(0.11)	0.00	(0.30)	0.00	0.00	0.96	(1.41)	3.64
AINIX	0.63	(0.11)	0.00	(0.29)	0.00	0.00	0.97	(1.50)	3.65
CAAIX	0.78	(0.02)	0.00	0.10	0.73	(0.90)	1.78	(1.34)	5.63

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