Needham Aggressive Correlations

NEAIX Fund

USD 48.63 1.05 2.21%

The current 90-days correlation between Needham Aggressive Growth and Needham Aggressive Growth is 1.0 (i.e., No risk reduction). 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

Weak diversification

The correlation between Needham Aggressive Growth and DJI is 0.37 (i.e., Weak 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 gross domestic product.

Moving together with Needham Mutual Fund

1.0	NEAGX	Needham Aggressive Growth	Pair Corr
0.73	NEEGX	Needham Growth	Pair Corr
0.88	NESGX	Needham Small Cap	Pair Corr
0.89	NESIX	Needham Small Cap	Pair Corr
0.75	VSGAX	Vanguard Small Cap	Pair Corr
0.85	VSGIX	Vanguard Small Cap	Pair Corr
0.85	VISGX	Vanguard Small Cap	Pair Corr

Moving against Needham Mutual Fund

0.38

RYCQX

Inverse Russell 2000 Trending

Pair Corr

Related Correlations Analysis

	NEAGX	NESIX	UMPSX	FELCX	FELTX
NEAGX		0.89	0.74	0.48	0.51	NEAGX
NESIX	0.89		0.56	0.55	0.58	NESIX
UMPSX	0.74	0.56		0.42	0.36	UMPSX
FELCX	0.48	0.55	0.42		0.99	FELCX
FELTX	0.51	0.58	0.36	0.99		FELTX
	NEAGX	NESIX	UMPSX	FELCX	FELTX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NEAGX	1.14	0.01	0.01	0.01	1.50	(1.19)	2.24	(2.07)	7.53
NESIX	1.25	(0.02)	0.00	(0.03)	0.00	0.00	2.15	(2.34)	8.46
UMPSX	1.38	(0.13)	0.00	(0.09)	0.00	0.00	2.92	(2.53)	11.03
FELCX	1.83	(0.07)	0.00	(0.13)	0.00	0.00	3.13	(3.45)	15.50
FELTX	1.82	(0.05)	0.00	(0.10)	0.00	0.00	3.12	(3.44)	15.50

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