Empiric 2500 Correlations

Mutual Funds . USA . 
Fund . Empiric 2500 Fund
EMCCX Fund  USD 58.80  0.36  0.61%   
The current 90-days correlation between Empiric 2500 and Franklin High Yield is -0.25 (i.e., Very good diversification). The correlation of Empiric 2500 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.

Empiric 2500 Correlation With Market

Very poor diversification

The correlation between Empiric 2500 Fund and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Empiric 2500 Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Empiric 2500 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 main economic indicators.

Moving together with Empiric Mutual Fund

  1.0EMCAX Empiric 2500PairCorr
  0.97VSGAX Vanguard Small CapPairCorr
  0.97VSGIX Vanguard Small CapPairCorr
  0.97VISGX Vanguard Small CapPairCorr
  0.98VEXPX Vanguard ExplorerPairCorr
  0.98VEXRX Vanguard ExplorerPairCorr
  0.65JGMNX Janus TritonPairCorr
  0.9OSPPX Oppenheimer Steelpath MlpPairCorr
  0.9SPMPX Invesco Steelpath MlpPairCorr
  0.9SPMJX Invesco Steelpath MlpPairCorr
  0.9MLPNX Oppenheimer Steelpath MlpPairCorr
  0.9MLPLX Oppenheimer Steelpath MlpPairCorr
  0.9MLPMX Oppenheimer Steelpath MlpPairCorr
  0.84LSHUX Horizon Spin OffPairCorr
  0.9EMO Clearbridge Energy MlpPairCorr
  0.9WGGSX Wasatch Global SelectPairCorr
  0.96VBIAX Vanguard Balanced IndexPairCorr
  0.97ANOCX Small Cap GrowthPairCorr
  0.97CJEAX Janus Enterprise 529PairCorr
  0.97LAGIX Ladenburg AggressivePairCorr
  0.98NWHZX Nationwide Geneva SmallPairCorr
  0.98TVRRX Thornburg ValuePairCorr
  0.72GHIRX Goldman Sachs EnhancedPairCorr
  0.93NWMAX Nationwide DestinationPairCorr
  0.9RFNGX American Funds FundaPairCorr
  0.92RICGX Investment Of AmericaPairCorr
  0.63MUI Blackrock Muni InterPairCorr
  0.84RCPTX American Funds 2065PairCorr
  0.86LPVAX Blackrock LifepathPairCorr
  0.81MXBOX Great West LifetimePairCorr
  0.93FCCVX Fidelity VertiblePairCorr

Moving against Empiric Mutual Fund

  0.35BEMIX Brandes Emerging MarketsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Empiric Mutual Fund performing well and Empiric 2500 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 Empiric 2500'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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