Chautauqua Global Correlations

CCGIX Fund

USD 24.89 0.09 0.36%

The current 90-days correlation between Chautauqua Global Growth and Chautauqua International Growth is 0.95 (i.e., Almost no diversification). The correlation of Chautauqua Global 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.

Chautauqua Global Correlation With Market

Poor diversification

The correlation between Chautauqua Global Growth and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chautauqua Global 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 Chautauqua Global 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 gross domestic product.

Moving together with Chautauqua Mutual Fund

0.65	BSGSX	Baird Smallmid Cap	Pair Corr
0.65	BSGIX	Baird Smallmid Cap	Pair Corr
0.61	BUBIX	Baird Ultra Short	Pair Corr
0.62	BUBSX	Baird Ultra Short	Pair Corr
0.75	BMDSX	Baird Midcap	Pair Corr
0.75	BMDIX	Baird Midcap	Pair Corr
1.0	CCGSX	Chautauqua Global Growth	Pair Corr
0.94	CCWIX	Chautauqua International	Pair Corr
0.98	FNFPX	American Funds New	Pair Corr
0.98	FFPNX	American Funds New	Pair Corr
0.98	NPFCX	New Perspective	Pair Corr
0.98	ANWPX	New Perspective	Pair Corr
0.98	NPFFX	New Perspective	Pair Corr
0.98	CNPAX	New Perspective	Pair Corr
0.98	CNPEX	New Perspective	Pair Corr
0.98	CNPFX	New Perspective	Pair Corr
0.98	CNPCX	New Perspective	Pair Corr
0.98	RNPAX	New Perspective	Pair Corr
0.85	PFN	Pimco Income Strategy	Pair Corr

Moving against Chautauqua Mutual Fund

0.44	BAGSX	Baird Aggregate Bond	Pair Corr
0.42	BAGIX	Baird Aggregate Bond	Pair Corr
0.41	BCOSX	Baird E Plus	Pair Corr
0.41	BCOIX	Baird E Plus	Pair Corr
0.38	BIMIX	Baird Intermediate Bond	Pair Corr
0.36	BIMSX	Baird Intermediate Bond	Pair Corr
0.37	XNXJX	Nuveen New Jersey	Pair Corr
0.31	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

	CCWIX	BSBIX	BUBIX	QSTAX	BMDIX
CCWIX		0.17	0.43	0.71	0.55	CCWIX
BSBIX	0.17		0.01	-0.25	-0.01	BSBIX
BUBIX	0.43	0.01		0.49	0.79	BUBIX
QSTAX	0.71	-0.25	0.49		0.57	QSTAX
BMDIX	0.55	-0.01	0.79	0.57		BMDIX
	CCWIX	BSBIX	BUBIX	QSTAX	BMDIX

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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

BMDIX	+ 0.79	BUBIX
QSTAX	+ 0.71	CCWIX
BMDIX	+ 0.57	QSTAX
BMDIX	+ 0.55	CCWIX
QSTAX	+ 0.49	BUBIX
BUBIX	+ 0.43	CCWIX

High negative correlations

QSTAX	- 0.25	BSBIX
BMDIX	- 0.01	BSBIX

Risk-Adjusted Indicators

There is a big difference between Chautauqua Mutual Fund performing well and Chautauqua Global 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 Chautauqua Global'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
CCWIX	0.74	(0.03)	(0.09)	0.06	0.87	(0.83)	1.39	(1.40)	5.34
BSBIX	0.07	0.00	(0.77)	0.78	0.05	(0.12)	0.11	(0.11)	0.53
BUBIX	0.03	0.00	0.00	0.34	0.00	0.00	0.10	0.00	0.10
QSTAX	0.94	(0.18)	0.00	(0.04)	0.00	0.00	2.16	(2.59)	7.81
BMDIX	0.68	0.01	0.00	0.12	0.78	(0.71)	1.53	(1.17)	4.19

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