Growth Fund Correlations

CGFEX Fund

USD 79.05 0.35 0.44%

The current 90-days correlation between Growth Fund and Capital World Growth is 0.89 (i.e., Very poor 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 poor diversification

The correlation between Growth Fund Of and DJI is 0.8 (i.e., Very poor 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 income.

Moving together with Growth Mutual Fund

0.87	AMECX	Income Fund	Pair Corr
0.85	AMFCX	American Mutual	Pair Corr
0.86	AMFFX	American Mutual	Pair Corr
0.61	RNCCX	American Funds Income	Pair Corr
0.87	AMEFX	Income Fund	Pair Corr
0.92	RNGGX	New Economy Fund	Pair Corr
0.96	RNGFX	New Economy Fund	Pair Corr
0.92	RNGHX	New Economy Fund	Pair Corr
0.95	RNGBX	New Economy Fund	Pair Corr
0.95	RNGAX	New Economy Fund	Pair Corr
0.96	RNGEX	New Economy Fund	Pair Corr
0.95	RNGCX	New Economy Fund	Pair Corr
0.63	FPTPX	American Funds Conse	Pair Corr
0.95	RNNEX	New Economy Fund	Pair Corr
0.92	CDJAX	American Funds College	Pair Corr
0.98	AMPCX	Amcap Fund Class	Pair Corr
0.98	AMPFX	Amcap Fund Class	Pair Corr
0.82	RNPBX	New Perspective	Pair Corr
0.82	RNPAX	New Perspective	Pair Corr
0.84	RNPHX	New Perspective	Pair Corr
0.84	RNPGX	New Perspective	Pair Corr
0.83	RNPCX	New Perspective	Pair Corr
0.84	RNPFX	New Perspective	Pair Corr
0.83	RNPEX	New Perspective	Pair Corr
0.91	AMRMX	American Mutual	Pair Corr
0.91	AMRFX	American Mutual	Pair Corr

Moving against Growth Mutual Fund

0.55	FPPPX	American Funds Prese	Pair Corr
0.33	TECCX	Tax Exempt Fund	Pair Corr
0.78	AMUSX	Us Government Securities	Pair Corr
0.76	ANBEX	American Funds Strategic	Pair Corr
0.76	ANBFX	American Funds Strategic	Pair Corr
0.76	ANBAX	American Funds Strategic	Pair Corr

Related Correlations Analysis

	RWIBX	RSLBX	RWMBX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
RWIBX		0.87	0.87	0.0	0.96	0.58	-0.06	0.8	-0.03	0.14	RWIBX
RSLBX	0.87		0.86	0.0	0.85	0.66	0.15	0.84	0.12	0.17	RSLBX
RWMBX	0.87	0.86		0.0	0.86	0.68	0.31	0.8	0.32	0.37	RWMBX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.96	0.85	0.86	0.0		0.68	-0.05	0.81	0.04	0.12	MSTSX
LBHIX	0.58	0.66	0.68	0.0	0.68		0.26	0.72	0.33	0.09	LBHIX
VIASP	-0.06	0.15	0.31	0.0	-0.05	0.26		0.07	0.81	0.56	VIASP
RRTLX	0.8	0.84	0.8	0.0	0.81	0.72	0.07		0.14	0.04	RRTLX
OSHDF	-0.03	0.12	0.32	0.0	0.04	0.33	0.81	0.14		0.41	OSHDF
70082LAB3	0.14	0.17	0.37	0.0	0.12	0.09	0.56	0.04	0.41		70082LAB3
	RWIBX	RSLBX	RWMBX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

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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

MSTSX	+ 0.96	RWIBX
RSLBX	+ 0.87	RWIBX
RWMBX	+ 0.87	RWIBX
RWMBX	+ 0.86	RSLBX
MSTSX	+ 0.86	RWMBX
MSTSX	+ 0.85	RSLBX

High negative correlations

VIASP	- 0.06	RWIBX
VIASP	- 0.05	MSTSX
OSHDF	- 0.03	RWIBX
70082LAB3	- 0.0	AQUI
OSHDF	- 0.0	AQUI
RRTLX	- 0.0	AQUI

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RWIBX	0.53	(0.06)	(0.13)	0.02	0.74	(0.54)	1.17	(1.37)	3.19
RSLBX	0.67	(0.07)	(0.10)	0.04	0.81	(0.71)	1.31	(1.23)	3.31
RWMBX	0.50	(0.04)	(0.09)	0.07	0.59	(0.52)	0.99	(1.13)	3.32
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.49	(0.04)	(0.13)	0.05	0.51	(0.62)	1.21	(1.02)	2.80
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
VIASP	0.75	0.08	(0.03)	(1.87)	1.12	(0.82)	2.28	(1.20)	7.18
RRTLX	0.23	0.01	(0.29)	0.46	0.25	(0.25)	0.48	(0.56)	1.36
OSHDF	39.65	22.52	0.00	(0.97)	0.00	0.00	0.00	0.00	1,329
70082LAB3	1.00	0.06	(0.04)	(0.11)	2.21	(1.10)	1.75	(1.69)	24.27

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