Growth Allocation Correlations

Mutual Funds . USA . 
Fund . Growth Allocation Index
FRGAX Fund  USD 11.03  0.02  0.18%   
The current 90-days correlation between Growth Allocation Index and Prudential Short Term Porate is 0.13 (i.e., Average diversification). The correlation of Growth Allocation 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 Allocation Correlation With Market

Very poor diversification

The correlation between Growth Allocation Index and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Allocation Index 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 Growth Allocation Index. 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

  0.64FPTKX Fidelity Freedom 2015PairCorr
  0.69FPURX Fidelity PuritanPairCorr
  0.88FRBDX Fidelity Freedom 2070PairCorr
  0.88FRBHX Fidelity Freedom 2070PairCorr
  0.87FRBUX Fidelity Freedom IndexPairCorr
  0.88FRBYX Fidelity Freedom BlendPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.88FRCLX Fidelity Freedom BlendPairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  0.94FAASX Fidelity Asset ManagerPairCorr
  0.86FAAIX Fidelity Asset ManagerPairCorr
  0.76FACTX Fidelity Advisor HealthPairCorr
  0.7FADMX Fidelity Advisor StrPairCorr
  0.65FAEGX Fidelity Advisor EquityPairCorr
  0.88FAFSX Fidelity Advisor FinPairCorr
  0.85FAFFX Fidelity Advisor FreedomPairCorr
  0.89FAFCX Fidelity Advisor FinPairCorr
  0.78FAGIX Fidelity Capital IncomePairCorr
  0.65FAGAX Fidelity Advisor GrowthPairCorr
  0.85FAHYX Fidelity Advisor HighPairCorr
  0.82FAHEX Fidelity Advisor HighPairCorr
  0.76FALAX Fidelity Advisor LargePairCorr
  0.98FSAAX Fidelity Asset ManagerPairCorr
  0.86FSANX Fidelity Asset ManagerPairCorr
  0.98FSATX Fidelity Asset ManagerPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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