Mh Elite Correlations

MHELX Fund

USD 9.31 0.03 0.32%

The current 90-days correlation between Mh Elite Small and American Funds Growth is 0.83 (i.e., Very poor diversification). The correlation of Mh Elite 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.

Mh Elite Correlation With Market

Very poor diversification

The correlation between Mh Elite Small 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 Mh Elite Small 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 Mh Elite Small. 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 bureau of economic analysis.

Moving together with MHELX Mutual Fund

0.97	MHEFX	Mh Elite Fund	Pair Corr
0.71	MHEIX	Mh Elite Income	Pair Corr
0.94	CGRGX	American Funds Growth	Pair Corr
0.94	FPGGX	American Funds Growth	Pair Corr
0.94	FGPGX	American Funds Growth	Pair Corr
0.97	MUTHX	Franklin Mutual Shares	Pair Corr
0.97	TESRX	Franklin Mutual Shares	Pair Corr
0.97	FMSHX	Franklin Mutual Shares	Pair Corr
0.94	GWPCX	American Funds Growth	Pair Corr
0.94	GWPFX	American Funds Growth	Pair Corr
0.94	GWPAX	American Funds Growth	Pair Corr
0.94	CGQGX	American Funds Growth	Pair Corr
0.97	ASG	Liberty All Star	Pair Corr
0.93	CII	Blackrock Enhanced	Pair Corr
0.92	ETV	Eaton Vance Tax	Pair Corr
0.87	CLM	Cornerstone Strategic	Pair Corr
0.87	CRF	Cornerstone Strategic	Pair Corr
0.95	USA	Liberty All Star	Pair Corr
0.91	ETY	Eaton Vance Tax	Pair Corr
0.78	NFJ	Virtus Dividend Interest	Pair Corr
0.95	IMOPX	Voya Midcap Opportunities	Pair Corr
0.99	VEXRX	Vanguard Explorer	Pair Corr
0.9	VTWAX	Vanguard Total World	Pair Corr
0.96	FBALX	Fidelity Balanced	Pair Corr
0.96	CGFFX	Growth Fund	Pair Corr
0.9	RNGHX	New Economy Fund	Pair Corr
0.97	VTSAX	Vanguard Total Stock	Pair Corr
0.99	LGWIX	Ladenburg Growth	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.95	ANCIX	Ancora Microcap	Pair Corr
0.96	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.74	FAIGX	Fidelity Advisor Balanced	Pair Corr
0.65	EOD	Allspring Global Dividend	Pair Corr
0.72	FHCOX	Federated Hermes Con	Pair Corr

Related Correlations Analysis

	GWPCX	GWPFX	444859BR2	AQUI	BRRAY	LBHIX	MSTSX	ABHYX	SCAXF	VIASP
GWPCX		1.0	-0.66	0.0	-0.32	0.69	0.83	0.04	-0.4	0.39	GWPCX
GWPFX	1.0		-0.66	0.0	-0.31	0.69	0.82	0.04	-0.41	0.4	GWPFX
444859BR2	-0.66	-0.66		0.0	0.31	-0.54	-0.45	-0.03	0.46	-0.46	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.32	-0.31	0.31	0.0		-0.35	-0.45	-0.37	-0.06	0.12	BRRAY
LBHIX	0.69	0.69	-0.54	0.0	-0.35		0.68	0.56	-0.35	0.26	LBHIX
MSTSX	0.83	0.82	-0.45	0.0	-0.45	0.68		0.27	-0.04	-0.05	MSTSX
ABHYX	0.04	0.04	-0.03	0.0	-0.37	0.56	0.27		-0.1	-0.12	ABHYX
SCAXF	-0.4	-0.41	0.46	0.0	-0.06	-0.35	-0.04	-0.1		-0.82	SCAXF
VIASP	0.39	0.4	-0.46	0.0	0.12	0.26	-0.05	-0.12	-0.82		VIASP
	GWPCX	GWPFX	444859BR2	AQUI	BRRAY	LBHIX	MSTSX	ABHYX	SCAXF	VIASP

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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

GWPFX	+ 1.0	GWPCX
MSTSX	+ 0.83	GWPCX
MSTSX	+ 0.82	GWPFX
LBHIX	+ 0.69	GWPCX
LBHIX	+ 0.69	GWPFX
MSTSX	+ 0.68	LBHIX

High negative correlations

VIASP	- 0.82	SCAXF
444859BR2	- 0.66	GWPFX
444859BR2	- 0.66	GWPCX
LBHIX	- 0.54	444859BR2
VIASP	- 0.46	444859BR2
MSTSX	- 0.45	BRRAY

Risk-Adjusted Indicators

There is a big difference between MHELX Mutual Fund performing well and Mh Elite 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 Mh Elite'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
GWPCX	0.61	(0.03)	(0.05)	0.08	0.84	(0.61)	1.27	(1.58)	3.78
GWPFX	0.61	(0.03)	(0.04)	0.08	0.83	(0.59)	1.29	(1.59)	3.73
444859BR2	1.36	(0.08)	0.00	(0.21)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.10)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
ABHYX	0.18	0.03	(0.22)	(0.11)	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.37)	0.00	(33.24)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.08	(0.03)	(1.87)	1.12	(0.82)	2.28	(1.20)	7.18

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