Sp 500 Correlations

Mutual Funds . USA . 
Fund . Sp 500 Equal
INDEX Fund  USD 53.29  0.11  0.21%   
The current 90-days correlation between Sp 500 Equal and Access Capital Munity is 0.19 (i.e., Average diversification). The correlation of Sp 500 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.

Sp 500 Correlation With Market

Poor diversification

The correlation between Sp 500 Equal and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp 500 Equal 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 Sp 500 Equal. 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 INDEX Mutual Fund

  0.91FPURX Fidelity PuritanPairCorr
  0.97FPUKX Fidelity PuritanPairCorr
  0.74FQIPX Fidelity Freedom IndexPairCorr
  0.78FQLSX Fidelity Flex FreedomPairCorr
  0.64FRBDX Fidelity Freedom 2070PairCorr
  0.64FRBEX Fidelity Freedom 2070PairCorr
  0.64FRBHX Fidelity Freedom 2070PairCorr
  0.62FRBJX Fidelity Advisor FreedomPairCorr
  0.62FRBKX Fidelity Advisor FreedomPairCorr
  0.61FRBOX Fidelity Advisor FreedomPairCorr
  0.61FRBPX Fidelity Advisor FreedomPairCorr
  0.66FRBQX Fidelity Flex FreedomPairCorr
  0.73FRBUX Fidelity Freedom IndexPairCorr
  0.73FRBVX Fidelity Freedom IndexPairCorr
  0.62FRBWX Fidelity Freedom IndexPairCorr
  0.67FRBYX Fidelity Freedom BlendPairCorr
  0.67FRBZX Fidelity Freedom BlendPairCorr
  0.89FRAGX Aggressive GrowthPairCorr
  0.66FRCFX Fidelity Freedom BlendPairCorr
  0.67FRCHX Fidelity Freedom BlendPairCorr
  0.69FRCKX Fidelity Freedom BlendPairCorr
  0.67FRCLX Fidelity Freedom BlendPairCorr
  0.66FRCNX Fidelity Freedom BlendPairCorr
  0.66FRCPX Fidelity Freedom BlendPairCorr
  0.8FRCRX Fidelity SustainablePairCorr
  0.7FRCVX Fidelity SustainablePairCorr
  0.73FRDCX Fidelity SustainablePairCorr
  0.7FRDEX Fidelity SustainablePairCorr
  0.82FRGAX Growth Allocation IndexPairCorr

Moving against INDEX Mutual Fund

  0.6FRCYX Fidelity SustainablePairCorr
  0.32FRIFX Fidelity Real EstatePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between INDEX Mutual Fund performing well and Sp 500 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 Sp 500'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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