Schwab Monthly Correlations

SWKRX Fund

USD 10.33 0.04 0.39%

The current 90-days correlation between Schwab Monthly Income and Goldman Sachs Clean is 0.66 (i.e., Poor diversification). The correlation of Schwab Monthly 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 Monthly Correlation With Market

Very weak diversification

The correlation between Schwab Monthly Income and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Monthly Income 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 Monthly Income. 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 metropolitan statistical area.

Moving together with Schwab Mutual Fund

0.71	SWCAX	Schwab California Tax	Pair Corr
0.94	SWAGX	Schwab Aggregate Bond	Pair Corr
0.73	SWASX	Schwab Global Real	Pair Corr
0.69	SWDSX	Schwab Dividend Equity	Pair Corr
0.96	SWISX	Schwab International	Pair Corr
0.87	SWHFX	Schwab Health Care	Pair Corr
1.0	SWJRX	Schwab Monthly Income	Pair Corr
0.94	SWMIX	Laudus International	Pair Corr
1.0	SWLRX	Schwab Monthly Income	Pair Corr
0.74	SWNTX	Schwab Tax Free	Pair Corr
0.96	SWRSX	Schwab Treasury Inflation	Pair Corr
0.91	SWSBX	Schwab Short Term	Pair Corr

Moving against Schwab Mutual Fund

0.51	LGILX	Laudus Large Cap	Pair Corr
0.36	SWANX	Schwab E Equity	Pair Corr
0.55	SWLGX	Schwab Large Cap	Pair Corr
0.51	SWLSX	Schwab Large Cap	Pair Corr
0.31	SWOBX	Schwab Balanced	Pair Corr
0.56	SWSSX	Schwab Small Cap	Pair Corr
0.47	SWSCX	Schwab Small Cap	Pair Corr
0.35	SWTSX	Schwab Total Stock	Pair Corr

Related Correlations Analysis

	GCEBX	VGSBX	MXKJX	OGMCX	QGLDX	AGYCX	FEGOX	UNWPX
GCEBX		0.63	-0.29	0.34	0.34	0.37	0.4	0.41	GCEBX
VGSBX	0.63		-0.45	0.67	0.75	0.74	0.78	0.65	VGSBX
MXKJX	-0.29	-0.45		-0.52	-0.55	-0.56	-0.57	-0.54	MXKJX
OGMCX	0.34	0.67	-0.52		0.96	0.99	0.98	0.97	OGMCX
QGLDX	0.34	0.75	-0.55	0.96		0.98	0.99	0.96	QGLDX
AGYCX	0.37	0.74	-0.56	0.99	0.98		1.0	0.97	AGYCX
FEGOX	0.4	0.78	-0.57	0.98	0.99	1.0		0.96	FEGOX
UNWPX	0.41	0.65	-0.54	0.97	0.96	0.97	0.96		UNWPX
	GCEBX	VGSBX	MXKJX	OGMCX	QGLDX	AGYCX	FEGOX	UNWPX

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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

FEGOX	+ 1.0	AGYCX
AGYCX	+ 0.99	OGMCX
FEGOX	+ 0.99	QGLDX
FEGOX	+ 0.98	OGMCX
AGYCX	+ 0.98	QGLDX
UNWPX	+ 0.97	OGMCX

High negative correlations

FEGOX	- 0.57	MXKJX
AGYCX	- 0.56	MXKJX
QGLDX	- 0.55	MXKJX
UNWPX	- 0.54	MXKJX
OGMCX	- 0.52	MXKJX
MXKJX	- 0.45	VGSBX

Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Monthly 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 Monthly'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
GCEBX	0.74	0.03	0.06	0.05	1.11	(0.74)	1.49	(2.40)	4.21
VGSBX	0.18	0.01	0.27	0.16	0.17	(0.23)	0.43	(0.32)	0.98
MXKJX	1.07	(0.06)	0.00	(0.16)	0.00	0.00	1.42	(1.97)	26.05
OGMCX	1.27	0.27	0.17	0.37	1.46	(1.38)	2.70	(3.16)	7.69
QGLDX	0.72	0.18	0.28	(3.60)	0.68	(0.81)	1.71	(1.33)	3.97
AGYCX	1.25	0.36	0.23	0.65	1.39	(1.40)	2.74	(2.65)	7.30
FEGOX	1.12	0.32	0.23	0.69	1.21	(1.20)	2.28	(2.26)	6.31
UNWPX	1.27	0.32	0.19	0.60	1.37	(1.60)	3.11	(2.50)	8.41

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