Schwab Target Correlations

SWPRX Fund

USD 15.66 0.06 0.38%

The current 90-days correlation between Schwab Target 2060 and Fznopx is -0.11 (i.e., Good diversification). The correlation of Schwab Target 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 Target Correlation With Market

Good diversification

The correlation between Schwab Target 2060 and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Target 2060 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 Target 2060. 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

0.77	AANTX	American Funds 2060	Pair Corr
0.76	CCKTX	American Funds 2060	Pair Corr
0.77	FAWTX	American Funds 2060	Pair Corr
0.82	TRLNX	T Rowe Price	Pair Corr
0.81	FFLEX	Fidelity Freedom Index	Pair Corr
0.81	FDKLX	Fidelity Freedom Index	Pair Corr
0.82	FDKVX	Fidelity Freedom 2060	Pair Corr
0.82	FVTKX	Fidelity Freedom 2060	Pair Corr
0.81	FUIPX	Fidelity Freedom Index	Pair Corr
0.66	AXP	American Express	Pair Corr
0.63	BAC	Bank of America	Pair Corr
0.77	WMT	Walmart	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr

Moving against Schwab Mutual Fund

0.42	GAAKX	Gmo Alternative Allo	Pair Corr
0.42	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	FZNOPX	RTIUX	FFCGX	XHYIX	FLAKQX	FVKVWX	FUHKBX
FZNOPX		-0.06	0.73	0.57	0.55	0.7	0.85	FZNOPX
RTIUX	-0.06		0.43	-0.11	0.33	0.18	-0.26	RTIUX
FFCGX	0.73	0.43		0.6	0.84	0.64	0.52	FFCGX
XHYIX	0.57	-0.11	0.6		0.51	0.43	0.41	XHYIX
FLAKQX	0.55	0.33	0.84	0.51		0.52	0.37	FLAKQX
FVKVWX	0.7	0.18	0.64	0.43	0.52		0.48	FVKVWX
FUHKBX	0.85	-0.26	0.52	0.41	0.37	0.48		FUHKBX
	FZNOPX	RTIUX	FFCGX	XHYIX	FLAKQX	FVKVWX	FUHKBX

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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

FUHKBX	+ 0.85	FZNOPX
FLAKQX	+ 0.84	FFCGX
FFCGX	+ 0.73	FZNOPX
FVKVWX	+ 0.7	FZNOPX
FVKVWX	+ 0.64	FFCGX
XHYIX	+ 0.6	FFCGX

High negative correlations

FUHKBX	- 0.26	RTIUX
XHYIX	- 0.11	RTIUX
RTIUX	- 0.06	FZNOPX

Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Target 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 Target'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
FZNOPX	0.75	0.02	0.00	(0.03)	0.00	0.00	1.55	(1.63)	3.75
RTIUX	0.61	0.10	0.16	0.14	0.76	(0.66)	1.47	(1.45)	5.02
FFCGX	0.73	0.02	0.00	(0.04)	0.00	0.00	1.37	(1.56)	4.66
XHYIX	0.16	(0.02)	0.00	(0.28)	0.00	0.00	0.25	(0.49)	1.31
FLAKQX	0.83	0.04	0.05	(0.01)	1.12	(0.93)	1.75	(2.40)	4.80
FVKVWX	0.74	0.11	0.12	0.14	1.04	(0.75)	1.50	(1.67)	4.47
FUHKBX	0.68	0.01	0.00	(0.04)	0.00	0.00	1.13	(1.76)	4.79

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