Growth Opportunities Correlations

TGVFX Fund

USD 49.69 0.43 0.86%

The current 90-days correlation between Growth Opportunities and Gmo High Yield is 0.06 (i.e., Significant 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

Weak diversification

The correlation between Growth Opportunities Fund and DJI is 0.39 (i.e., Weak 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 census.

Moving together with Growth Mutual Fund

0.8	TVOYX	Touchstone Small Cap	Pair Corr
0.78	TEGAX	Mid Cap Growth	Pair Corr
0.77	TEGYX	Mid Cap Growth	Pair Corr
0.85	SAGWX	Sentinel Small Pany	Pair Corr
0.71	TFCCX	Touchstone Large Cap	Pair Corr
1.0	TGVCX	Growth Opportunities	Pair Corr
0.78	TLGYX	Touchstone Large Pany	Pair Corr
0.84	TMCTX	Touchstone Mid Cap	Pair Corr
0.83	TMCPX	Touchstone Mid Cap	Pair Corr
0.84	TMCJX	Touchstone Mid Cap	Pair Corr
0.85	SIGWX	Sentinel Small Pany	Pair Corr
0.84	TMPRX	Touchstone Mid Cap	Pair Corr
0.8	TOECX	Mid Cap Growth	Pair Corr
0.73	TOHCX	Ohio Tax Free	Pair Corr
0.69	TOHIX	Touchstone Ohio Tax	Pair Corr

Moving against Growth Mutual Fund

0.44

SSSGX

Sentinel Low Duration

Pair Corr

Related Correlations Analysis

	GHVIX	PRVBX	MCZRX	TSDCX	MFIRX	HWDCX	BMBSX	SWSFX
GHVIX		0.96	0.66	0.76	0.92	0.76	0.68	0.75	GHVIX
PRVBX	0.96		0.64	0.75	0.89	0.72	0.67	0.73	PRVBX
MCZRX	0.66	0.64		0.21	0.59	0.92	0.96	0.25	MCZRX
TSDCX	0.76	0.75	0.21		0.86	0.44	0.21	0.9	TSDCX
MFIRX	0.92	0.89	0.59	0.86		0.72	0.56	0.89	MFIRX
HWDCX	0.76	0.72	0.92	0.44	0.72		0.89	0.47	HWDCX
BMBSX	0.68	0.67	0.96	0.21	0.56	0.89		0.23	BMBSX
SWSFX	0.75	0.73	0.25	0.9	0.89	0.47	0.23		SWSFX
	GHVIX	PRVBX	MCZRX	TSDCX	MFIRX	HWDCX	BMBSX	SWSFX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GHVIX	0.14	0.02	0.08	(1.97)	0.00	(0.17)	0.30	(0.24)	0.90
PRVBX	0.10	0.01	0.02	(0.50)	0.00	(0.13)	0.25	(0.17)	0.58
MCZRX	0.24	0.02	0.06	0.37	0.19	(0.29)	0.68	(0.45)	1.60
TSDCX	0.05	0.01	0.00	(1.52)	0.00	0.00	0.11	(0.11)	0.66
MFIRX	0.11	0.03	0.08	0.62	0.00	(0.21)	0.19	(0.19)	0.76
HWDCX	0.12	0.01	0.05	0.94	0.00	(0.17)	0.31	(0.21)	0.73
BMBSX	0.11	0.00	0.00	0.13	0.11	(0.14)	0.18	(0.27)	0.88
SWSFX	0.05	0.01	0.00	(0.84)	0.00	0.00	0.10	0.00	0.69

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