Needham Growth Correlations

Mutual Funds . USA . 
Fund . Needham Growth Fund
NEEGX Fund  USD 57.65  0.54  0.95%   
The current 90-days correlation between Needham Growth and Needham Aggressive Growth is 0.94 (i.e., Almost no diversification). The correlation of Needham 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.

Needham Growth Correlation With Market

Modest diversification

The correlation between Needham Growth Fund and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Needham Growth Fund 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 Growth Fund. 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

  0.94NEAIX Needham Aggressive GrowthPairCorr
  0.94NEAGX Needham Aggressive GrowthPairCorr
  0.93NESGX Needham Small CapPairCorr
  0.93NESIX Needham Small CapPairCorr
  0.66PAMCX T Rowe PricePairCorr
  0.66RRMGX T Rowe PricePairCorr
  0.67TRQZX T Rowe PricePairCorr
  0.67RPMGX T Rowe PricePairCorr
  0.71PRJIX T Rowe PricePairCorr
  0.75PRNHX T Rowe PricePairCorr
  0.71TRUZX T Rowe PricePairCorr

Moving against Needham Mutual Fund

  0.44DNYMX Dfa Ny MunicipalPairCorr
  0.42LALDX Lord Abbett ShortPairCorr
  0.35RRIGX T Rowe PricePairCorr
  0.32PYCIX Payden Emerging MarketsPairCorr
  0.47PSHCX Pioneer Short TermPairCorr
  0.42LIFIX Lord Abbett InflationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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