Equity Growth Correlations

AMEIX Fund  USD 34.02  0.16  0.47%   
The current 90-days correlation between Equity Growth and Hennessy Technology Fund is 0.77 (i.e., Poor diversification). The correlation of Equity Growth 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.

Equity Growth Correlation With Market

Very weak diversification

The correlation between Equity Growth Fund and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equity Growth Fund 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 Equity Growth Fund. 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 gross domestic product.

Moving together with Equity Mutual Fund

  0.63AMKIX Emerging MarketsPairCorr
  0.72TWCAX Select Fund APairCorr
  0.74TWCIX Select Fund InvestorPairCorr
  0.65TWCGX Growth Fund InvestorPairCorr
  0.94TWBIX Balanced Fund InvestorPairCorr
  0.7TWCUX Ultra Fund InvestorPairCorr
  0.82TWGAX International GrowthPairCorr
  0.67TWGIX Growth Fund IPairCorr
  0.82TWIEX International GrowthPairCorr
  0.62TWMIX Emerging MarketsPairCorr
  0.75TWSIX Select Fund IPairCorr
  0.67TWUAX Ultra Fund APairCorr
  0.72TWUIX Ultra Fund IPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Equity Mutual Fund performing well and Equity Growth 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 Equity Growth'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.