The Growth Correlations

Mutual Funds . USA . 
Fund . The Growth Fund
CFGRX Fund  USD 47.54  0.20  0.42%   
The current 90-days correlation between Growth Fund and The Hartford Healthcare is -0.04 (i.e., Good diversification). The correlation of The 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.

The Growth Correlation With Market

Poor diversification

The correlation between The Growth Fund and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The 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 The 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 metropolitan statistical area.

Moving together with The Mutual Fund

  0.92CFAGX Midcap GrowthPairCorr
  0.7CFMVX Commerce Midcap ValuePairCorr
  0.88FAFGX American FundsPairCorr
  0.88FFAFX American FundsPairCorr
  0.86GFACX Growth FundPairCorr
  0.8GFAFX Growth FundPairCorr
  0.93AGTHX Growth FundPairCorr
  0.87CGFFX Growth FundPairCorr
  0.79CGFCX Growth FundPairCorr
  0.87CGFAX Growth FundPairCorr
  0.87CGFEX Growth FundPairCorr
  0.88RGAEX Growth FundPairCorr
  0.65WHIYX Ivy High IncomePairCorr
  0.7IVHIX Ivy High IncomePairCorr
  0.61IHIFX Ivy High IncomePairCorr
  0.68WRHIX Ivy High IncomePairCorr
  0.73WHIAX Ivy High IncomePairCorr

Moving against The Mutual Fund

  0.82CFSTX Short TermPairCorr
  0.66CFBNX Bond FundPairCorr
  0.38CFMOX Missouri TaxPairCorr
  0.37CFNLX National TaxPairCorr
  0.68PRAPX Pimco Total ReturnPairCorr
  0.63BORIX Collegeadvantage 529PairCorr
  0.63DIMIX Dreyfus Short IntermPairCorr
  0.62OSIIX Oppenheimer Global StrtgcPairCorr
  0.43TEMHX Tiaa Cref EmergingPairCorr
  0.41TEDMX Templeton DevelopingPairCorr
  0.41HSXIX Hartford SchrodersPairCorr
  0.38WLATTX WlattxPairCorr
  0.37UBPSX Ultralatin America Steady GrowthPairCorr
  0.36PAFRX T Rowe PricePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
SCHLX
+ 0.99
LYFAX
HCPIX
+ 0.92
SCHLX
HIAHX
+ 0.9
HGHYX
HCPIX
+ 0.89
LYFAX
LYFAX
+ 0.86
HGHYX
SCHLX
+ 0.85
HGHYX
  
High negative correlations   
HCPIX
- 0.17
BGHDX
SCHLX
- 0.03
BGHDX
HIAHX
- 0.03
BGHDX

Risk-Adjusted Indicators

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

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