Select Fund Correlations

ASDEX Fund

USD 128.01 0.15 0.12%

The current 90-days correlation between Select Fund R6 and Select Fund R is 0.2 (i.e., Modest diversification). The correlation of Select 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.

Select Fund Correlation With Market

Modest diversification

The correlation between Select Fund R6 and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Fund R6 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 Select Fund R6. 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 income.

Moving together with Select Mutual Fund

0.94	AMEIX	Equity Growth	Pair Corr
0.62	AMGIX	Income Growth	Pair Corr
0.91	TWCCX	Ultra Fund C	Pair Corr
1.0	TWCAX	Select Fund A	Pair Corr
0.91	TWCIX	Select Fund Investor	Pair Corr
0.89	TWCGX	Growth Fund Investor	Pair Corr
0.77	TWBIX	Balanced Fund Investor	Pair Corr
0.91	TWCUX	Ultra Fund Investor	Pair Corr
0.98	TWGIX	Growth Fund I	Pair Corr
0.7	TWHIX	Heritage Fund Investor	Pair Corr
0.86	TWRCX	Growth Fund C	Pair Corr
0.72	TWSCX	Strategic Allocation	Pair Corr
0.91	TWSIX	Select Fund I	Pair Corr
0.99	TWUAX	Ultra Fund A	Pair Corr
0.99	TWUIX	Ultra Fund I	Pair Corr
0.82	ANORX	Small Cap Growth	Pair Corr
0.82	ANONX	Small Cap Growth	Pair Corr

Moving against Select Mutual Fund

0.43	TWMIX	Emerging Markets	Pair Corr
0.42	AMKIX	Emerging Markets	Pair Corr
0.41	TWACX	Short Term Government	Pair Corr
0.33	TWARX	Short Term Government	Pair Corr
0.33	TWAVX	Short Term Government	Pair Corr
0.33	TWUOX	Short Term Government	Pair Corr
0.32	TWUSX	Short Term Government	Pair Corr

Related Correlations Analysis

	ASERX	ALCKX	ACSLX	TWCAX	TWSIX
ASERX		0.42	0.88	0.91	1.0	ASERX
ALCKX	0.42		0.63	0.56	0.38	ALCKX
ACSLX	0.88	0.63		0.99	0.86	ACSLX
TWCAX	0.91	0.56	0.99		0.9	TWCAX
TWSIX	1.0	0.38	0.86	0.9		TWSIX
	ASERX	ALCKX	ACSLX	TWCAX	TWSIX

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Risk-Adjusted Indicators

There is a big difference between Select Mutual Fund performing well and Select 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 Select 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ASERX	0.80	0.01	0.00	0.14	1.44	(0.68)	1.53	(2.21)	6.34
ALCKX	0.84	(0.05)	0.00	(0.23)	0.00	0.00	1.46	(2.35)	9.24
ACSLX	0.81	(0.01)	0.00	(0.04)	0.00	0.00	1.52	(2.21)	7.15
TWCAX	0.80	0.00	0.00	0.01	1.40	(0.69)	1.52	(2.20)	6.22
TWSIX	0.79	0.02	0.01	0.28	1.39	(0.68)	1.53	(2.19)	5.91

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