Nicholas Fund Correlations

Mutual Funds . USA . 
Fund . Nicholas Fund Inc
NICSX Fund  USD 100.63  0.67  0.66%   
The current 90-days correlation between Nicholas Fund and Nicholas Equity Income is 0.65 (i.e., Poor diversification). The correlation of Nicholas Fund 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.

Nicholas Fund Correlation With Market

Poor diversification

The correlation between Nicholas Fund Inc and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Fund Inc 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 Nicholas Fund Inc. 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 state.

Moving together with Nicholas Mutual Fund

  0.62NSEIX Nicholas Equity IncomePairCorr
  0.95NCLEX Nicholas EditionPairCorr
  0.97NCTWX Nicholas IiPairCorr
  0.95NNLEX Nicholas EditionPairCorr
  0.97NNTWX Nicholas IiPairCorr
  0.97FAFGX American FundsPairCorr
  0.97FFAFX American FundsPairCorr
  0.97GFACX Growth FundPairCorr
  0.97GFAFX Growth FundPairCorr
  0.97AGTHX Growth FundPairCorr
  0.97CGFFX Growth FundPairCorr
  0.97CGFCX Growth FundPairCorr
  0.97CGFAX Growth FundPairCorr
  0.97CGFEX Growth FundPairCorr
  0.97RGAEX Growth FundPairCorr
  0.96AMONX Aqr Large CapPairCorr
  0.98TAGRX Fundamental Large CapPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.93LMSIX Qs Small CapitalizationPairCorr
  0.99USLIX Us Global LeadersPairCorr
  0.75ATOAX Alpine Ultra ShortPairCorr
  0.7GHIRX Goldman Sachs EnhancedPairCorr
  0.83CEE Central Europe RussiaPairCorr
  0.86LPVIX Blackrock LifepathPairCorr
  0.95BTSAX Bts Managed IncomePairCorr
  0.97TFAGX Tfa Alphagen GrowthPairCorr
  0.91GAB Gabelli Equity TrustPairCorr
  0.93BITW Bitwise 10 CryptoPairCorr
  0.94PEVAX Pace Smallmedium ValuePairCorr
  0.76IOBZX Icon Bond FundPairCorr
  0.84IRSNX Voya Target RetirementPairCorr
  0.86TFCCX Touchstone Large CapPairCorr
  0.92FRBAX Regional BankPairCorr
  0.67DNAVX Dunham Dynamic MacroPairCorr
  0.98VEXAX Vanguard Extended MarketPairCorr
  0.89RNGAX New Economy FundPairCorr

Moving against Nicholas Mutual Fund

  0.47PFHCX Pacific Funds SmallPairCorr
  0.62NHS Neuberger Berman HighPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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