Schwab Global Correlations

SWASX Fund

USD 6.28 0.06 0.95%

The current 90-days correlation between Schwab Global Real and Gabelli Convertible And is 0.28 (i.e., Modest diversification). The correlation of Schwab Global 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.

Schwab Global Correlation With Market

Very weak diversification

The correlation between Schwab Global Real and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Global Real 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 Schwab Global Real. 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 state.

Moving together with Schwab Mutual Fund

0.76	SWCAX	Schwab California Tax	Pair Corr
0.62	SWAGX	Schwab Aggregate Bond	Pair Corr
0.79	SWDRX	Schwab Target 2030	Pair Corr
0.84	SWDSX	Schwab Dividend Equity	Pair Corr
0.77	SWHYX	Schwab Opportunistic	Pair Corr
0.63	SWISX	Schwab International	Pair Corr
0.7	SWIRX	Schwab Target 2035	Pair Corr
0.75	SWHFX	Schwab Health Care	Pair Corr
0.73	SWKRX	Schwab Monthly Income	Pair Corr
0.73	SWJRX	Schwab Monthly Income	Pair Corr
0.72	SWMIX	Laudus International	Pair Corr
0.67	SWMRX	Schwab Target 2045	Pair Corr
0.72	SWLRX	Schwab Monthly Income	Pair Corr
0.63	SWORX	Schwab Target 2055	Pair Corr
0.64	SWNRX	Schwab Target 2050	Pair Corr
0.76	SWNTX	Schwab Tax Free	Pair Corr
0.64	SWQRX	Schwab Target 2065	Pair Corr
0.64	SWPRX	Schwab Target 2060	Pair Corr
0.64	SWRSX	Schwab Treasury Inflation	Pair Corr

Related Correlations Analysis

	GCV	VAADX	XAVKX	CCD	PBXIX	PCNTX	FSAWX
GCV		0.43	0.51	0.24	0.55	0.42	0.2	GCV
VAADX	0.43		0.95	0.88	0.92	1.0	-0.65	VAADX
XAVKX	0.51	0.95		0.83	0.96	0.95	-0.5	XAVKX
CCD	0.24	0.88	0.83		0.79	0.89	-0.75	CCD
PBXIX	0.55	0.92	0.96	0.79		0.93	-0.42	PBXIX
PCNTX	0.42	1.0	0.95	0.89	0.93		-0.66	PCNTX
FSAWX	0.2	-0.65	-0.5	-0.75	-0.42	-0.66		FSAWX
	GCV	VAADX	XAVKX	CCD	PBXIX	PCNTX	FSAWX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PCNTX	+ 1.0	VAADX
PBXIX	+ 0.96	XAVKX
XAVKX	+ 0.95	VAADX
PCNTX	+ 0.95	XAVKX
PCNTX	+ 0.93	PBXIX
PBXIX	+ 0.92	VAADX

High negative correlations

FSAWX	- 0.75	CCD
FSAWX	- 0.66	PCNTX
FSAWX	- 0.65	VAADX
FSAWX	- 0.5	XAVKX
FSAWX	- 0.42	PBXIX

Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Global 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 Schwab Global'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GCV	0.92	0.01	0.00	(0.05)	0.00	2.17	(2.14)	6.16
VAADX	0.67	(0.07)	0.00	(0.19)	0.00	1.13	(1.60)	3.27
XAVKX	0.53	(0.04)	0.00	(0.17)	0.00	0.90	(1.14)	2.56
CCD	0.77	(0.08)	0.00	(0.26)	0.00	1.41	(1.67)	7.13
PBXIX	0.43	(0.03)	0.00	(0.14)	0.00	0.81	(0.90)	2.66
PCNTX	0.64	(0.06)	0.00	(0.16)	0.00	1.07	(1.68)	3.46
FSAWX	0.08	0.04	1.09	(1.82)	(0.14)	0.19	(0.10)	0.38

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