Madison High Correlations

MIIBX Fund

USD 10.48 0.01 0.1%

The current 90-days correlation between Madison High Quality and SCOR PK is -0.03 (i.e., Good diversification). The correlation of Madison High 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 High Correlation With Market

Good diversification

The correlation between Madison High Quality and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison High Quality 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 High Quality. 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 labor statistics.

Moving together with Madison Mutual Fund

0.99	MBOIX	Madison Core Bond	Pair Corr
0.96	MBORX	Madison Funds	Pair Corr
0.99	MBOYX	Madison E Bond	Pair Corr
0.97	MBOAX	Madison E Bond	Pair Corr
0.7	MCOCX	Madison Servative	Pair Corr
0.72	MCNAX	Madison Servative	Pair Corr
0.66	GTVAX	Madison Tax Free	Pair Corr
0.9	VBIRX	Vanguard Short Term	Pair Corr
0.69	VFSUX	Vanguard Short Term	Pair Corr
0.92	VFSIX	Vanguard Short Term	Pair Corr
0.95	VFSTX	Vanguard Short Term	Pair Corr
0.98	VBITX	Vanguard Short Term	Pair Corr
0.98	VBISX	Vanguard Short Term	Pair Corr

Moving against Madison Mutual Fund

0.71	BHBFX	Madison Dividend Income	Pair Corr
0.62	BVAOX	Broadview Opportunity	Pair Corr
0.62	MASMX	Madison Small Cap	Pair Corr
0.6	MSCIX	Madison Small Cap	Pair Corr
0.6	MSCRX	Madison Small Cap	Pair Corr
0.5	MNVAX	Madison Investors	Pair Corr
0.44	MMCRX	Madison Mid Cap	Pair Corr
0.44	MDCIX	Madison Mid Cap	Pair Corr
0.72	MDMIX	Madison Dividend Income	Pair Corr
0.52	MINVX	Madison Investors	Pair Corr
0.52	MIVIX	Madison Investors	Pair Corr
0.45	MERAX	Madison Mid Cap	Pair Corr
0.45	GTSGX	Madison Mid Cap	Pair Corr

Related Correlations Analysis

	SCRYY	MSTSX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI	FPCG	KMX
SCRYY		0.4	0.76	-0.21	-0.34	0.51	-0.38	0.4	0.0	0.61	SCRYY
MSTSX	0.4		0.08	-0.12	0.13	0.23	-0.36	0.09	0.0	0.1	MSTSX
VIASP	0.76	0.08		-0.33	-0.14	0.71	-0.43	0.66	0.0	0.63	VIASP
XTWO	-0.21	-0.12	-0.33		-0.6	-0.7	0.91	-0.75	0.0	0.27	XTWO
SVII	-0.34	0.13	-0.14	-0.6		0.37	-0.49	0.44	0.0	-0.43	SVII
70082LAB3	0.51	0.23	0.71	-0.7	0.37		-0.75	0.93	0.0	0.35	70082LAB3
XTWY	-0.38	-0.36	-0.43	0.91	-0.49	-0.75		-0.78	0.0	0.15	XTWY
SEGI	0.4	0.09	0.66	-0.75	0.44	0.93	-0.78		0.0	0.23	SEGI
FPCG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FPCG
KMX	0.61	0.1	0.63	0.27	-0.43	0.35	0.15	0.23	0.0		KMX
	SCRYY	MSTSX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI	FPCG	KMX

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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

SEGI	+ 0.93	70082LAB3
XTWY	+ 0.91	XTWO
VIASP	+ 0.76	SCRYY
70082LAB3	+ 0.71	VIASP
SEGI	+ 0.66	VIASP
KMX	+ 0.63	VIASP

High negative correlations

SEGI	- 0.78	XTWY
XTWY	- 0.75	70082LAB3
SEGI	- 0.75	XTWO
70082LAB3	- 0.7	XTWO
SVII	- 0.6	XTWO
XTWY	- 0.49	SVII

Risk-Adjusted Indicators

There is a big difference between Madison Mutual Fund performing well and Madison High 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 High'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
SCRYY	1.93	0.45	0.12	(0.71)	1.74	(2.85)	5.61	(3.52)	12.99
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
XTWO	0.08	(0.01)	0.00	1.07	0.00	0.00	0.14	(0.12)	0.55
SVII	0.18	0.00	(0.17)	0.24	0.39	(0.29)	0.44	(0.53)	4.77
70082LAB3	0.70	0.09	(0.03)	(0.69)	0.99	(0.84)	1.75	(1.19)	6.86
XTWY	0.76	(0.10)	0.00	0.98	0.00	0.00	1.33	(1.70)	5.49
SEGI	10.19	2.80	0.16	(1.15)	9.90	(16.01)	28.57	(18.18)	62.86
FPCG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KMX	1.43	0.14	0.02	1.44	1.64	(1.55)	4.14	(3.24)	8.69

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