Mutual Of Correlations

Mutual Funds . USA . 
Fund . Mutual Of America
MAGKX Fund   12.66  0.25  2.01%   
The current 90-days correlation between Mutual Of America and Prudential Financial Services is -0.06 (i.e., Good diversification). The correlation of Mutual Of 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.

Mutual Of Correlation With Market

Significant diversification

The correlation between Mutual Of America and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mutual Of America 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 Mutual Of America. 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 industry.

Moving together with Mutual Mutual Fund

  0.79MAAKX Mutual Of AmericaPairCorr
  0.69MAANX Mutual Of AmericaPairCorr
  0.83MACCX Mutual Of AmericaPairCorr
  0.78MAEIX Mutual Of AmericaPairCorr
  0.88MAMEX Mutual Of AmericaPairCorr
  0.93MAMVX Mutual Of AmericaPairCorr
  0.92MASOX Mutual Of AmericaPairCorr
  0.85MAVKX Mutual Of AmericaPairCorr
  0.68MURJX Mutual Of AmericaPairCorr
  0.65MURNX Mutual Of AmericaPairCorr
  0.62MURMX Mutual Of AmericaPairCorr
  0.7MURLX Mutual Of AmericaPairCorr
  0.67MURQX Mutual Of AmericaPairCorr
  0.77MURPX Mutual Of AmericaPairCorr
  0.66MUROX Mutual Of AmericaPairCorr
  0.94VSGAX Vanguard Small CapPairCorr
  0.94VSGIX Vanguard Small CapPairCorr
  0.94VISGX Vanguard Small CapPairCorr
  0.85VEXPX Vanguard ExplorerPairCorr
  0.85VEXRX Vanguard ExplorerPairCorr
  0.88JGMIX Janus TritonPairCorr
  0.88JGMRX Janus TritonPairCorr
  0.88JGMAX Janus TritonPairCorr
  0.87JGMCX Janus TritonPairCorr
  0.81JGMNX Janus TritonPairCorr

Moving against Mutual Mutual Fund

  0.61MAMBX Mutual Of AmericaPairCorr
  0.51MAIFX Mutual Of AmericaPairCorr
  0.49MABDX Mutual Of AmericaPairCorr
  0.88GRZZX Grizzly ShortPairCorr
  0.71PYAIX Payden Absolute ReturnPairCorr
  0.53FCFBX Fidelity Advisor FreedomPairCorr
  0.39FGPMX Franklin Gold And Steady GrowthPairCorr
  0.33MNOZX Manning Napier OverseasPairCorr
  0.31BUIIX Buffalo InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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