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KavaChart Gallery .. Scatter Plots

Annualized Relative Average Performance
Global Equity Mutual Funds 


Annualized Gain/Loss Ratio
Global Equity Mutual Funds 


Actively managed funds may increase volatility (risk) and risk should be compensated for by greater returns relative to a benchmark. Tracking error is the degree to which fund volatility differs from its benchmark. Performance is measured relative to the benchmark.

Gain/Loss ratio is simply the sum of positive gains each month divided by the sum of the losses. Volatility is a measure of risk. One might expect high and low gain loss ratios to be associated with relatively high volatility.

Annualized Average Performance
Global Equituy Mutual Funds

Annualized Correlation
Global Equity Mutual Funds

R-squared (RSQ) is a statistical measure used to estimate the degree to which a fund's performance is explained by the performance of a benchmark. For example a fund with a RSQ of .86 relative to the S&P 500 means that 86% of the funds historical performance can be explained by the performance of the S&P 500.

Correlation is a measure of how two variables behave relative to one another. Funds whose performance moves together over time are correlated. T-stat is a measure of the reliability of the correlation (or correlation coefficient). This chart indicates, with a farily high degree of reliability that the performance of these funds is positively correlated and as a group they will move in the same direction.