Deutsche Gold Correlations

Mutual Funds . USA . 
Fund . Deutsche Gold Precious
SGDIX Fund  USD 65.33  0.86  1.33%   
The current 90-days correlation between Deutsche Gold Precious and Jhancock Disciplined Value is 0.08 (i.e., Significant diversification). The correlation of Deutsche Gold 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.

Deutsche Gold Correlation With Market

Good diversification

The correlation between Deutsche Gold Precious and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Gold Precious and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Deutsche Gold Precious. 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 Deutsche Mutual Fund

  1.0SGDLX Sprott Gold EquityPairCorr
  0.96SGGDX First Eagle GoldPairCorr
  0.96FEGIX First Eagle GoldPairCorr
  0.98FEGOX First Eagle GoldPairCorr
  0.97OPGSX Oppenheimer Gold SpecPairCorr
  0.97OGMCX Oppenheimer Gold SpecialPairCorr
  0.97FSAGX Gold Portfolio GoldPairCorr
  0.97FIJDX Gold Portfolio FidelityPairCorr
  0.9VTISX Vanguard Total InterPairCorr
  0.9VTSNX Vanguard Total InterPairCorr
  0.9VTPSX Vanguard Total InterPairCorr
  0.84DBIWX Dws Global MacroPairCorr
  0.85UTF Cohen And SteersPairCorr
  0.88HTD John Hancock TaxPairCorr
  0.74VICSX Vanguard Intermediate-terPairCorr
  0.84ABNOX Ab Bond InflationPairCorr
  0.81GIOIX Guggenheim Macro OppPairCorr
  0.77XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.78IBM International BusinessPairCorr
  0.74KO Coca Cola Aggressive PushPairCorr
  0.64INTC IntelPairCorr
  0.67MCD McDonaldsPairCorr
  0.78JNJ Johnson JohnsonPairCorr
  0.8MMM 3M CompanyPairCorr
  0.62TRV The Travelers CompaniesPairCorr

Moving against Deutsche Mutual Fund

  0.32VINIX Vanguard InstitutionalPairCorr
  0.71MSFT MicrosoftPairCorr
  0.69MRK Merck CompanyPairCorr
  0.58DIS Walt DisneyPairCorr
  0.51AA Alcoa CorpPairCorr
  0.47HPQ HP IncPairCorr
  0.38HD Home DepotPairCorr
  0.38AXP American ExpressPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Deutsche Mutual Fund performing well and Deutsche Gold 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 Deutsche Gold'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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