Target 2005 Correlations

TFRRX Fund

USD 11.39 0.02 0.18%

The current 90-days correlation between Target 2005 Fund and Morningstar Municipal Bond is -0.1 (i.e., Good diversification). The correlation of Target 2005 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.

Target 2005 Correlation With Market

Good diversification

The correlation between Target 2005 Fund and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target 2005 Fund 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 Target 2005 Fund. 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 Target Mutual Fund

0.82	FSNKX	Fidelity Freedom 2010	Pair Corr
0.83	RRTAX	T Rowe Price	Pair Corr
0.83	PARAX	T Rowe Price	Pair Corr
0.9	AAATX	American Funds 2010	Pair Corr
0.9	FAATX	American Funds 2010	Pair Corr
0.9	CCATX	American Funds 2010	Pair Corr
0.81	FFFCX	Fidelity Freedom 2010	Pair Corr
0.81	FOTKX	Fidelity Freedom 2010	Pair Corr
0.89	REATX	American Funds 2010	Pair Corr
0.9	RAATX	American Funds 2010	Pair Corr
0.67	BRUFX	Bruce Fund Bruce	Pair Corr
0.62	KF	Korea Closed	Pair Corr
0.67	PGLSX	Global Multi Strategy	Pair Corr
0.63	GIOIX	Guggenheim Macro Opp	Pair Corr
0.71	DBIWX	Dws Global Macro	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.77	GE	GE Aerospace	Pair Corr
0.64	IBM	International Business	Pair Corr

Moving against Target Mutual Fund

0.64

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	MSTPX	RGVCX	PRFHX	BMBSX	PATFX	LCPMX	RGVAX
MSTPX		0.73	0.99	0.96	0.99	0.95	0.74	MSTPX
RGVCX	0.73		0.78	0.86	0.77	0.73	1.0	RGVCX
PRFHX	0.99	0.78		0.98	0.99	0.96	0.79	PRFHX
BMBSX	0.96	0.86	0.98		0.97	0.93	0.87	BMBSX
PATFX	0.99	0.77	0.99	0.97		0.97	0.78	PATFX
LCPMX	0.95	0.73	0.96	0.93	0.97		0.74	LCPMX
RGVAX	0.74	1.0	0.79	0.87	0.78	0.74		RGVAX
	MSTPX	RGVCX	PRFHX	BMBSX	PATFX	LCPMX	RGVAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Target Mutual Fund performing well and Target 2005 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 Target 2005'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
MSTPX	0.13	(0.01)	0.00	(0.35)	0.00	0.00	0.20	(0.30)	0.91
RGVCX	0.24	0.03	0.29	0.88	0.20	(0.30)	0.51	(0.42)	1.38
PRFHX	0.18	(0.01)	0.00	(0.35)	0.00	0.00	0.37	(0.54)	1.27
BMBSX	0.11	(0.01)	0.27	(0.26)	0.15	(0.13)	0.18	(0.26)	0.71
PATFX	0.18	(0.01)	0.00	(0.33)	0.00	0.00	0.36	(0.45)	1.26
LCPMX	0.16	(0.01)	0.00	(1.09)	0.00	0.00	0.34	(0.45)	1.14
RGVAX	0.25	0.03	0.27	0.65	0.22	(0.31)	0.60	(0.43)	1.56

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