Needham Aggressive Correlations

Mutual Funds . USA . 
Fund . Needham Aggressive Growth
NEAIX Fund  USD 44.94  0.95  2.07%   
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

Very weak diversification

The correlation between Needham Aggressive Growth and DJI is 0.59 (i.e., Very 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

  1.0NEAGX Needham Aggressive GrowthPairCorr
  0.98NEEGX Needham GrowthPairCorr
  0.97NESGX Needham Small CapPairCorr
  0.98NESIX Needham Small CapPairCorr
  0.92VSGAX Vanguard Small CapPairCorr
  0.98VSGIX Vanguard Small CapPairCorr
  0.98VISGX Vanguard Small CapPairCorr
  0.89VEXPX Vanguard ExplorerPairCorr
  0.89VEXRX Vanguard ExplorerPairCorr
  0.94JGMIX Janus TritonPairCorr
  0.94JGMRX Janus TritonPairCorr
  0.94JGMAX Janus TritonPairCorr
  0.94JGMCX Janus TritonPairCorr
  0.87JGMNX Janus TritonPairCorr

Moving against Needham Mutual Fund

  0.78USGDX Morgan Stanley GovernmentPairCorr
  0.65EPDPX Europac InternationalPairCorr
  0.49PFN Pimco Income StrategyPairCorr
  0.41HTD John Hancock TaxPairCorr
  0.34PCF Putnam High IncomePairCorr
  0.81GF New Germany ClosedPairCorr
  0.77VSGDX Vanguard Short TermPairCorr
  0.74HRBDX Harbor Bond FundPairCorr
  0.72PSDNX Putnam Ultra ShortPairCorr
  0.71BISMX Brandes InternationalPairCorr
  0.71ABNOX Ab Bond InflationPairCorr
  0.7VICSX Vanguard Intermediate-terPairCorr
  0.67EMBAX Unconstrained EmergingPairCorr
  0.66ARBOX Absolute ConvertiblePairCorr
  0.65MEERX Massmutual PremierPairCorr
  0.62EBSFX Eubel Brady SuttmanPairCorr
  0.61SAEMX Sa Emerging MarketsPairCorr
  0.59RMDUX American Funds MultiPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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