Morningstar Aggressive Correlations

AGTFX Fund

USD 15.37 0.03 0.19%

The current 90-days correlation between Morningstar Aggressive and Prudential Short Term Porate is 0.07 (i.e., Significant diversification). The correlation of Morningstar Aggressive 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.

Morningstar Aggressive Correlation With Market

Very poor diversification

The correlation between Morningstar Aggressive Growth 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 Morningstar Aggressive Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Morningstar Aggressive Growth. 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 census.

Moving together with Morningstar Mutual Fund

0.83	VTSAX	Vanguard Total Stock	Pair Corr
0.84	VFIAX	Vanguard 500 Index	Pair Corr
0.83	VTSMX	Vanguard Total Stock	Pair Corr
0.9	VITSX	Vanguard Total Stock	Pair Corr
0.9	VSTSX	Vanguard Total Stock	Pair Corr
0.9	VSMPX	Vanguard Total Stock	Pair Corr
0.84	VFINX	Vanguard 500 Index	Pair Corr
0.84	VFFSX	Vanguard 500 Index	Pair Corr
0.93	FTYPX	Fidelity Freedom Index	Pair Corr
0.92	FFBTX	Fidelity Freedom Blend	Pair Corr
0.74	GCAVX	Gmo Small Cap	Pair Corr
0.92	GQLOX	Gmo Quality Fund	Pair Corr
0.88	GMCQX	Gmo Equity Allocation	Pair Corr
0.61	DIS	Walt Disney	Pair Corr
0.88	JPM	JPMorgan Chase	Pair Corr
0.78	AXP	American Express	Pair Corr
0.65	HPQ	HP Inc Sell-off Trend	Pair Corr
0.82	WMT	Walmart	Pair Corr

Moving against Morningstar Mutual Fund

0.55	GAAVX	Gmo Alternative Allo	Pair Corr
0.47	MRK	Merck Company	Pair Corr
0.35	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	PSTQX	LCSAX	RSDIX	ATOAX	BDMKX	BXDCX
PSTQX		0.23	0.97	0.92	0.93	0.97	PSTQX
LCSAX	0.23		0.27	0.46	0.34	0.27	LCSAX
RSDIX	0.97	0.27		0.96	0.89	1.0	RSDIX
ATOAX	0.92	0.46	0.96		0.89	0.96	ATOAX
BDMKX	0.93	0.34	0.89	0.89		0.89	BDMKX
BXDCX	0.97	0.27	1.0	0.96	0.89		BXDCX
	PSTQX	LCSAX	RSDIX	ATOAX	BDMKX	BXDCX

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Risk-Adjusted Indicators

There is a big difference between Morningstar Mutual Fund performing well and Morningstar Aggressive 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 Morningstar Aggressive'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
PSTQX	0.11	0.02	0.31	0.87	0.00	(0.15)	0.29	(0.19)	0.67
LCSAX	0.35	0.01	0.06	(0.60)	0.50	(0.41)	0.79	(0.68)	2.86
RSDIX	0.09	0.01	0.32	(0.45)	0.00	(0.16)	0.21	(0.10)	0.72
ATOAX	0.02	0.00	0.00	(0.06)	0.00	0.00	0.00	0.00	0.30
BDMKX	0.08	0.01	0.21	(0.51)	0.00	(0.12)	0.11	(0.11)	0.66
BXDCX	0.08	0.01	0.35	(0.44)	0.00	(0.15)	0.22	(0.11)	0.54

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