Needham Growth Correlations

Mutual Funds . USA . 
Fund . Needham Growth Fund
NEEGX Fund  USD 54.16  0.08  0.15%   
The current 90-days correlation between Needham Growth and Needham Aggressive Growth is 0.96 (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

Very weak diversification

The correlation between Needham Growth Fund and DJI is 0.5 (i.e., Very weak 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

  0.98NEAIX Needham Aggressive GrowthPairCorr
  0.98NEAGX Needham Aggressive GrowthPairCorr
  1.0NEEIX Needham GrowthPairCorr
  0.99NESGX Needham Small CapPairCorr
  0.99NESIX Needham Small CapPairCorr
  0.94PAMCX T Rowe PricePairCorr
  0.94RRMGX T Rowe PricePairCorr
  0.94TRQZX T Rowe PricePairCorr
  0.94RPMGX T Rowe PricePairCorr
  0.93PRJIX T Rowe PricePairCorr
  0.94PRNHX T Rowe PricePairCorr
  0.93TRUZX T Rowe PricePairCorr
  0.62PCBIX Midcap Fund InstitutionalPairCorr
  0.63PEMGX Midcap Fund ClassPairCorr
  0.64PMBCX Midcap Fund ClassPairCorr
  0.91GPMFX Guidepath Managed FuturesPairCorr
  0.66PQTAX Pimco Trends ManagedPairCorr
  0.66PQTNX Pimco Trends ManagedPairCorr
  0.66PQTIX Aa Pimco TrPairCorr

Moving against Needham Mutual Fund

  0.9GAAKX Gmo Alternative AlloPairCorr
  0.9GAAGX Gmo Alternative AlloPairCorr
  0.81GPBFX Gmo E PlusPairCorr
  0.82TASTX Transamerica Short TermPairCorr
  0.8PSDNX Putnam Ultra ShortPairCorr
  0.78GSTPX Goldman Sachs InflationPairCorr
  0.78HRBDX Harbor Bond FundPairCorr
  0.78ABNOX Ab Bond InflationPairCorr
  0.75EMBAX Unconstrained EmergingPairCorr
  0.7EBSFX Eubel Brady SuttmanPairCorr
  0.63VWICX Vanguard InternationalPairCorr
  0.62DLDFX Destinations Low DurationPairCorr
  0.6SAEMX Sa Emerging MarketsPairCorr
  0.48FQITX Fidelity Salem StreetPairCorr
  0.43WARCX Wells Fargo AdvantagePairCorr
  0.41EBSIX Campbell Systematic MacroPairCorr
  0.36CTYCX American Funds LegePairCorr
  0.87GF New Germany ClosedPairCorr
  0.82CIHCX Cullen International HighPairCorr

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 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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