Common Stock Correlations

Mutual Funds . USA . 
Fund . Common Stock Fund
FMIUX Fund  USD 38.49  0.02  0.05%   
The current 90-days correlation between Common Stock and The Hartford Healthcare is 0.12 (i.e., Average diversification). The correlation of Common Stock 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.

Common Stock Correlation With Market

Very weak diversification

The correlation between Common Stock Fund and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Common Stock Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Common Stock 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 employment.

Moving together with Common Mutual Fund

  0.74FMIQX Large Cap FundPairCorr
  0.93FMIMX Common StockPairCorr
  0.74FMIHX Large Cap FundPairCorr
  0.64FMIFX Fidelity Municipal IncomePairCorr
  0.89VIMAX Vanguard Mid CapPairCorr
  0.89VIMSX Vanguard Mid CapPairCorr
  0.89VMCPX Vanguard Mid CapPairCorr
  0.89VMCIX Vanguard Mid CapPairCorr
  0.87VEXAX Vanguard Extended MarketPairCorr
  0.87VEMPX Vanguard Extended MarketPairCorr
  0.87VIEIX Vanguard Extended MarketPairCorr
  0.87VSEMX Vanguard Extended MarketPairCorr
  0.87VEXMX Vanguard Extended MarketPairCorr
  0.87FSMAX Fidelity Extended MarketPairCorr
  0.67FLROX Franklin Lifesmart 2020PairCorr
  0.72JLAEX Retirement Living ThroughPairCorr
  0.63PTTNX Pimco Total ReturnPairCorr
  0.65VHYAX Vanguard High DividendPairCorr
  0.66TCJTX Cleartrack Ret IncomePairCorr
  0.67FLCSX Fidelity Large CapPairCorr
  0.77GAB Gabelli Equity TrustPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Common Mutual Fund performing well and Common Stock 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 Common Stock'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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