Aggressive Allocation Correlations

Mutual Funds . USA . 
Fund . Aggressive Allocation Fund
GAGYX Fund  USD 13.29  0.03  0.23%   
The current 90-days correlation between Aggressive Allocation and First Eagle Gold is 0.02 (i.e., Significant diversification). The correlation of Aggressive 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.

Aggressive Allocation Correlation With Market

Poor diversification

The correlation between Aggressive Allocation Fund and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aggressive Allocation Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Aggressive Allocation 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 manufacturing.

Moving together with Aggressive Mutual Fund

  0.99GCOZX Growth AllocationPairCorr
  0.82GDMYX Defensive Market StrPairCorr
  0.82GDMZX Defensive Market StrPairCorr
  0.95GVEYX Value Equity InstituPairCorr
  0.95GVEZX Value Equity InvestorPairCorr
  0.94GVIYX Guidestone Value EquityPairCorr
  0.94GVIZX Guidestone Value EquityPairCorr
  0.73GEQYX Equity Index InstituPairCorr
  0.73GEQZX Equity Index InvestorPairCorr
  0.82GFIZX Conservative AllocationPairCorr
  1.0GGBZX Aggressive AllocationPairCorr
  0.92GGIZX Balanced AllocationPairCorr
  0.99GGRYX Growth AllocationPairCorr
  0.99GMFZX Mydestination 2045PairCorr
  0.91GMEYX Guidestone Funds ImpactPairCorr
  0.92GMEZX Guidestone Funds ImpactPairCorr
  0.99GMHYX Mydestination 2035PairCorr
  0.99GMHZX Mydestination 2035PairCorr
  0.99GMGYX Mydestination 2055PairCorr
  0.99GMGZX Mydestination 2055PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Aggressive Mutual Fund performing well and Aggressive 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 Aggressive 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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