Needham Aggressive Correlations

Mutual Funds . USA . 
Fund . Needham Aggressive Growth
NEAGX Fund  USD 48.27  0.00  0.00%   
The current 90-days correlation between Needham Aggressive Growth and Needham Small Cap is 0.15 (i.e., Average diversification). The correlation of Needham Aggressive 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.

Needham Aggressive Correlation With Market

Poor diversification

The correlation between Needham Aggressive Growth and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Needham Aggressive Growth 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 Needham Aggressive Growth. 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 price.

Moving together with Needham Mutual Fund

  1.0NEAIX Needham Aggressive GrowthPairCorr
  0.76NESGX Needham Small CapPairCorr
  0.67VSGAX Vanguard Small CapPairCorr
  0.79VSGIX Vanguard Small CapPairCorr
  0.67VISGX Vanguard Small CapPairCorr
  0.72VEXPX Vanguard ExplorerPairCorr
  0.72VEXRX Vanguard ExplorerPairCorr
  0.7JGMIX Janus TritonPairCorr
  0.7JGMRX Janus TritonPairCorr
  0.7JGMAX Janus TritonPairCorr
  0.7JGMCX Janus TritonPairCorr
  0.7JGMNX Janus TritonPairCorr
  0.63DXQLX Direxion Monthly NasdaqPairCorr
  0.63RYVLX Nasdaq 100 2xPairCorr
  0.63RYVYX Nasdaq 100 2xPairCorr
  0.76UOPIX Ultra Nasdaq 100 Steady GrowthPairCorr
  0.77RYCCX Nasdaq 100 2xPairCorr
  0.63UOPSX Ultranasdaq 100 Profund Steady GrowthPairCorr
  0.7INPIX Internet UltrasectorPairCorr
  0.64JAAJX Jhancock Multi IndexPairCorr
  0.72AMHYX Invesco High YieldPairCorr
  0.8FGILX Fidelity Global EquityPairCorr
  0.66ESPRX Wells Fargo AdvantagePairCorr
  0.61JDBRX Janus BalancedPairCorr
  0.69NDMSX Nationwide InvestorPairCorr
  0.64AXVIX Acclivity Small CapPairCorr
  0.71VVMCX Valic Company IPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
OBMCX
+ 0.84
NEAIX
OBMCX
+ 0.8
NESGX
NEAIX
+ 0.76
NESGX
NEAIX
+ 0.21
NEEGX
ICMAX
+ 0.19
NEAIX
ICMAX
+ 0.16
NEEGX
  
High negative correlations   
OBMCX
- 0.26
NEEGX
NEEGX
- 0.01
NESGX

Risk-Adjusted Indicators

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