Large-cap Growth Correlations

Mutual Funds . USA . 
Fund . Large Cap Growth Profund
LGPIX Fund  USD 43.66  0.18  0.41%   
The current 90-days correlation between Large Cap Growth and Western Assets Global is -0.06 (i.e., Good diversification). The correlation of Large-cap Growth 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.

Large-cap Growth Correlation With Market

Poor diversification

The correlation between Large Cap Growth Profund and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Large Cap Growth Profund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Large Cap Growth Profund. 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 gross domestic product.

Moving together with Large-cap Mutual Fund

  0.86TEPIX Technology UltrasectorPairCorr
  0.81TEPSX Technology UltrasectorPairCorr
  1.0LGPSX Profunds Large CapPairCorr
  0.99OTPIX Nasdaq 100 ProfundPairCorr
  0.83UJPIX Ultrajapan ProfundPairCorr
  0.99OTPSX Nasdaq 100 ProfundPairCorr
  0.83UJPSX Ultrajapan ProfundPairCorr
  0.91MLPSX Mid Cap ValuePairCorr
  0.9MLPIX Mid Cap ValuePairCorr
  0.81BTCFX Bitcoin Strategy ProfundPairCorr
  0.95INPIX Internet Ultrasector Steady GrowthPairCorr
  0.95INPSX Internet Ultrasector Steady GrowthPairCorr
  0.91ULPIX Ultrabull ProfundPairCorr
  0.98ULPSX Ultrabull ProfundPairCorr
  0.63WCPIX Mobile TelecommunicatioPairCorr
  0.64WCPSX Mobile TelecommunicatioPairCorr
  0.8OEPSX Oil Equipment ServicesPairCorr
  0.93CYPSX Consumer Services Steady GrowthPairCorr
  0.89CYPIX Consumer Services Steady GrowthPairCorr
  0.8OEPIX Oil Equipment ServicesPairCorr
  0.93SVPIX Small Cap ValuePairCorr
  0.93SVPSX Small Cap ValuePairCorr
  0.94UMPSX Ultramid Cap ProfundPairCorr
  0.94UMPIX Ultramid Cap ProfundPairCorr

Moving against Large-cap Mutual Fund

  0.99BRPSX Bear Profund BearPairCorr
  0.95UIPIX Ultrashort Mid CapPairCorr
  0.94UIPSX Ultrashort Mid CapPairCorr
  0.92BRPIX Bear Profund BearPairCorr
  0.83UKPSX Ultrashort Japan ProfundPairCorr
  0.83UKPIX Ultrashort Japan ProfundPairCorr
  0.59GVPIX Us Government PlusPairCorr
  0.58GVPSX Us Government PlusPairCorr
  0.8FDPSX Falling Dollar ProfundPairCorr
  0.8FDPIX Falling Dollar ProfundPairCorr
  0.56UNPIX UltrainternationalPairCorr
  0.52UNPSX UltrainternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Large-cap Mutual Fund performing well and Large-cap Growth 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 Large-cap Growth'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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