Schwab Markettrack Correlations

SWHGX Fund

USD 25.60 0.21 0.83%

The current 90-days correlation between Schwab Markettrack Growth and Tekla Healthcare Investors is 0.08 (i.e., Significant diversification). The correlation of Schwab Markettrack 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 Markettrack Correlation With Market

Very weak diversification

The correlation between Schwab Markettrack Growth and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Markettrack Growth 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 Markettrack 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 price.

Moving together with Schwab Mutual Fund

0.82	LGILX	Laudus Large Cap	Pair Corr
0.98	SWBRX	Schwab Target 2010	Pair Corr
1.0	SWCGX	Schwab Markettrack	Pair Corr
0.82	SWANX	Schwab E Equity	Pair Corr
1.0	SWBGX	Schwab Markettrack	Pair Corr
1.0	SWCRX	Schwab Target 2020	Pair Corr
0.99	SWGRX	Schwab Target 2015	Pair Corr
0.87	SWERX	Schwab Target 2040	Pair Corr
0.62	SWHYX	Schwab Opportunistic	Pair Corr
0.73	SWIRX	Schwab Target 2035	Pair Corr
0.71	SWHFX	Schwab Health Care	Pair Corr
0.99	SWHRX	Schwab Target 2025	Pair Corr
0.94	SWOBX	Schwab Balanced	Pair Corr
0.68	SWORX	Schwab Target 2055	Pair Corr
0.66	SWNRX	Schwab Target 2050	Pair Corr
0.62	SWPRX	Schwab Target 2060	Pair Corr
0.72	SWSSX	Schwab Small Cap	Pair Corr
0.79	SWYLX	Schwab Target 2020	Pair Corr

Moving against Schwab Mutual Fund

0.37

SWSBX

Schwab Short Term

Pair Corr

Related Correlations Analysis

	XHQHX	LHCCX	SCHLX	RYHCX	SHSSX	BGHDX	BHSRX
XHQHX		0.72	0.79	0.72	0.58	0.12	0.55	XHQHX
LHCCX	0.72		0.73	0.66	0.74	0.07	0.75	LHCCX
SCHLX	0.79	0.73		0.9	0.87	-0.01	0.85	SCHLX
RYHCX	0.72	0.66	0.9		0.9	-0.06	0.88	RYHCX
SHSSX	0.58	0.74	0.87	0.9		-0.17	1.0	SHSSX
BGHDX	0.12	0.07	-0.01	-0.06	-0.17		-0.17	BGHDX
BHSRX	0.55	0.75	0.85	0.88	1.0	-0.17		BHSRX
	XHQHX	LHCCX	SCHLX	RYHCX	SHSSX	BGHDX	BHSRX

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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

BHSRX	+ 1.0	SHSSX
RYHCX	+ 0.9	SCHLX
SHSSX	+ 0.9	RYHCX
BHSRX	+ 0.88	RYHCX
SHSSX	+ 0.87	SCHLX
BHSRX	+ 0.85	SCHLX

High negative correlations

BHSRX	- 0.17	BGHDX
BGHDX	- 0.17	SHSSX
BGHDX	- 0.06	RYHCX
BGHDX	- 0.01	SCHLX

Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Markettrack 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 Markettrack'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XHQHX	0.84	(0.05)	0.00	0.11	0.00	0.00	1.64	(1.66)	5.93
LHCCX	0.75	(0.06)	0.00	0.21	0.00	0.00	1.30	(1.44)	4.79
SCHLX	0.60	0.02	0.06	(0.19)	0.68	(0.64)	1.24	(1.17)	2.98
RYHCX	0.62	0.02	0.04	0.02	0.80	(0.61)	1.20	(1.15)	3.36
SHSSX	0.65	(0.01)	0.00	(0.04)	0.00	0.00	1.32	(1.24)	5.72
BGHDX	0.43	0.05	0.03	(0.35)	0.84	(1.82)	1.27	(0.85)	8.70
BHSRX	0.66	(0.02)	0.00	(0.06)	0.00	0.00	1.32	(1.25)	6.19

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