Growth Fund Correlations

Mutual Funds . USA . 
Fund . Growth Fund Of
CGFAX Fund  USD 70.22  0.06  0.09%   
The current 90-days correlation between Growth Fund and Thrivent Natural Resources is 0.02 (i.e., Significant diversification). The correlation of Growth 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.

Growth Fund Correlation With Market

Very weak diversification

The correlation between Growth Fund Of and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Fund Of 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 Growth Fund Of. 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 nation.

Moving together with Growth Mutual Fund

  0.89CDJAX American Funds CollegePairCorr
  0.89RNPAX New PerspectivePairCorr
  0.89NPFCX New PerspectivePairCorr
  0.88NPFFX New PerspectivePairCorr
  0.88DITFX American Funds 2050PairCorr
  0.88ANWPX New PerspectivePairCorr
  0.83CWMAX Washington MutualPairCorr
  0.87FATTX American Funds 2045PairCorr
  0.91GFAFX Growth FundPairCorr
  0.94SCWFX Smallcap WorldPairCorr
  0.8FBAFX American Funds AmericanPairCorr
  0.9FBJTX American Funds 2055PairCorr
  0.63FCETX American Funds 2030PairCorr
  0.9FCJTX American Funds 2055PairCorr
  0.9FCKTX American Funds 2060PairCorr
  0.97RAFBX Amcap Fund ClassPairCorr
  0.94RSEBX Smallcap WorldPairCorr

Moving against Growth Mutual Fund

  0.56FPPPX American Funds PresePairCorr
  0.56RPPFX American Funds PresePairCorr
  0.42CFAEX Bond FundPairCorr
  0.33FAADX American Funds CollegePairCorr
  0.48CGTFX Us Government SecuritiesPairCorr
  0.48CGTCX Us Government SecuritiesPairCorr

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   
ENPSX
+ 0.98
BACCX
ENPSX
+ 0.82
TMCLX
TMCLX
+ 0.8
BACCX
BACCX
+ 0.7
GRHAX
TMCLX
+ 0.7
GRHAX
ENPSX
+ 0.68
GRHAX
  
High negative correlations   
GRHAX
- 0.17
TREIX

Risk-Adjusted Indicators

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

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