Madison Funds Correlations

MADRX Fund

USD 30.45 0.00 0.00%

The current 90-days correlation between Madison Funds and Dreyfus Natural Resources is 0.48 (i.e., Very weak diversification). The correlation of Madison Funds 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.

Madison Funds Correlation With Market

Good diversification

The correlation between Madison Funds and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Funds and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Madison Funds . 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 metropolitan statistical area.

Moving together with Madison Mutual Fund

0.86	MMCRX	Madison Mid Cap	Pair Corr
0.94	MNVAX	Madison Investors	Pair Corr
0.9	MNVRX	Madison Investors	Pair Corr
0.95	BVAOX	Broadview Opportunity	Pair Corr
0.66	MAACX	Madison Aggressive	Pair Corr
1.0	MADAX	Madison Dividend Income	Pair Corr
0.69	MAGSX	Madison Aggressive	Pair Corr
1.0	BHBFX	Madison Dividend Income	Pair Corr
0.95	MSCIX	Madison Small Cap	Pair Corr
0.95	MSCRX	Madison Small Cap	Pair Corr
0.95	MASMX	Madison Small Cap	Pair Corr
0.73	MBLAX	Madison Diversified	Pair Corr
0.66	MBLCX	Madison Diversified	Pair Corr
0.86	MDCIX	Madison Mid Cap	Pair Corr
1.0	MDMIX	Madison Dividend Income	Pair Corr
0.86	MERAX	Madison Mid Cap	Pair Corr
0.74	MFSIX	Mfs Series Trust	Pair Corr
0.78	MFSYX	Madison Funds	Pair Corr
0.9	MINVX	Madison Investors	Pair Corr
0.9	MIVIX	Madison Investors	Pair Corr
0.86	GTSGX	Madison Mid Cap	Pair Corr

Moving against Madison Mutual Fund

0.76	MBOAX	Madison E Bond	Pair Corr
0.75	MBOIX	Madison Core Bond	Pair Corr
0.75	MBORX	Madison Funds	Pair Corr
0.75	MBOYX	Madison E Bond	Pair Corr
0.72	MIIRX	Madison Funds	Pair Corr
0.72	MIIBX	Madison High Quality	Pair Corr
0.4	GTFHX	Madison Tax Free	Pair Corr
0.34	MINAX	Madison International	Pair Corr
0.33	MINYX	Madison International	Pair Corr

Related Correlations Analysis

	DLDCX	ENPSX	FRNRX	IEFCX	XNDPX	SMFPX	SBMBX	SEPCX
DLDCX		0.86	0.99	0.9	0.81	0.72	0.91	0.82	DLDCX
ENPSX	0.86		0.87	0.99	0.96	0.87	0.69	0.59	ENPSX
FRNRX	0.99	0.87		0.92	0.8	0.7	0.94	0.83	FRNRX
IEFCX	0.9	0.99	0.92		0.94	0.85	0.76	0.65	IEFCX
XNDPX	0.81	0.96	0.8	0.94		0.96	0.56	0.49	XNDPX
SMFPX	0.72	0.87	0.7	0.85	0.96		0.42	0.42	SMFPX
SBMBX	0.91	0.69	0.94	0.76	0.56	0.42		0.89	SBMBX
SEPCX	0.82	0.59	0.83	0.65	0.49	0.42	0.89		SEPCX
	DLDCX	ENPSX	FRNRX	IEFCX	XNDPX	SMFPX	SBMBX	SEPCX

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Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison Funds 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 Madison Funds' 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
DLDCX	0.90	0.07	(0.03)	4.26	1.28	(0.90)	1.58	(2.05)	4.99
ENPSX	1.36	0.13	0.01	(5.35)	1.87	(1.35)	2.58	(3.15)	8.91
FRNRX	0.75	0.04	(0.06)	1.92	1.07	(0.74)	1.58	(1.79)	4.33
IEFCX	0.85	0.07	(0.03)	(3.46)	1.18	(0.80)	1.64	(1.96)	5.20
XNDPX	0.91	0.19	0.05	(7.52)	1.12	(0.94)	1.83	(2.38)	6.62
SMFPX	0.68	0.13	0.08	0.39	0.61	(0.83)	1.37	(1.01)	4.54
SBMBX	0.73	0.00	(0.09)	(0.21)	1.10	(0.68)	1.34	(1.63)	3.99
SEPCX	0.73	(0.09)	0.00	(0.03)	0.00	0.00	1.35	(1.70)	4.03

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