Growth Opportunities Correlations

Mutual Funds USA . 
Fund . Growth Opportunities Fund
TGVCX Fund  USD 52.14  0.38  0.72%   
The current 90-days correlation between Growth Opportunities and Prudential Health Sciences is 0.53 (i.e., Very weak diversification). The correlation of Growth Opportunities 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.

Growth Opportunities Correlation With Market

Poor diversification

The correlation between Growth Opportunities Fund and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Opportunities 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 Growth Opportunities 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 main economic indicators.

Moving together with GROWTH Mutual Fund

  0.9TVOYX Touchstone Small CapPairCorr
  0.9SAGWX Sentinel Small PanyPairCorr
  0.93TFCCX Touchstone Large CapPairCorr
  0.99SCSCX Sentinel Mon StockPairCorr
  0.9SEBLX Sentinel BalancedPairCorr
  0.99SENCX Sentinel Mon StockPairCorr
  0.98CISGX Touchstone Sands CapitalPairCorr
  0.87SIGWX Sentinel Small PanyPairCorr
  0.79TSDCX Touchstone Ultra ShortPairCorr
  0.94TSNAX Touchstone Sands CapitalPairCorr
  0.98TCGLX Touchstone Large PanyPairCorr
  0.96FAFGX American FundsPairCorr
  0.99FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99RGAEX Growth FundPairCorr
  0.64IVHIX Ivy High IncomePairCorr
  0.63IHIFX Ivy High IncomePairCorr
  0.91HFCGX Hennessy Nerstone GrowthPairCorr
  0.91WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.97TEGYX Mid Cap GrowthPairCorr

Moving against GROWTH Mutual Fund

  0.5FFSAX Touchstone FlexiblePairCorr
  0.39TOHAX Ohio Tax FreePairCorr
  0.34TOHIX Touchstone Ohio TaxPairCorr

Related Correlations Analysis

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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   
SCHLX
+ 0.97
XXGRX
XXGRX
+ 0.93
PHLAX
SCHLX
+ 0.92
PHLAX
LYFAX
+ 0.84
PHLAX
SCHLX
+ 0.83
BGHDX
BGHDX
+ 0.8
XXGRX
  
High negative correlations   
HHCZX
- 0.78
XXGRX
SCHLX
- 0.76
HHCZX
HHCZX
- 0.66
PHLAX
BGHDX
- 0.44
HHCZX
HHCZX
- 0.36
THQ
HHCZX
- 0.34
LYFAX

Risk-Adjusted Indicators

There is a big difference between GROWTH Mutual Fund performing well and Growth Opportunities 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 Growth Opportunities' 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.

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