Growth Fund Correlations

GFFFX Fund  USD 71.23  0.06  0.08%   
The current 90-days correlation between Growth Fund and Fidelity Advisor Gold is 0.46 (i.e., Very weak 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

Poor diversification

The correlation between Growth Fund Of and DJI is 0.69 (i.e., 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 Risk vs Return Analysis 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 census.

Moving together with Growth Mutual Fund

  0.86CDJAX American Funds CollegePairCorr
  0.82RNPAX New PerspectivePairCorr
  0.86NPFCX New PerspectivePairCorr
  0.85NPFFX New PerspectivePairCorr
  0.81DITFX American Funds 2050PairCorr
  0.82CWMAX Washington MutualPairCorr
  0.88FATTX American Funds 2045PairCorr
  1.0GFAFX Growth FundPairCorr
  0.88SCWFX Smallcap WorldPairCorr
  0.85FBAFX American Funds AmericanPairCorr
  0.91FBJTX American Funds 2055PairCorr
  0.83FCJTX American Funds 2055PairCorr
  0.92FCKTX American Funds 2060PairCorr
  1.0RAFBX Amcap Fund ClassPairCorr
  0.97RSEBX Smallcap WorldPairCorr

Moving against Growth Mutual Fund

  0.59FPPPX American Funds PresePairCorr
  0.59RPPFX American Funds PresePairCorr
  0.48CFAEX Bond FundPairCorr
  0.32FAADX American Funds CollegePairCorr
  0.31TEPFX American Funds TaxPairCorr
  0.59CGTFX Us Government SecuritiesPairCorr
  0.59CGTCX Us Government SecuritiesPairCorr

Related Correlations Analysis

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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.