Growth Opportunities Correlations

TGVVX Fund

USD 51.42 1.34 2.54%

The current 90-days correlation between Growth Opportunities and Ab Discovery Value is 0.75 (i.e., Poor 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 0.67 (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 real.

Moving together with Growth Mutual Fund

0.91	TVOYX	Touchstone Small Cap	Pair Corr
0.94	TEGAX	Mid Cap Growth	Pair Corr
0.93	TEGIX	Mid Cap Growth	Pair Corr
0.94	TEGYX	Mid Cap Growth	Pair Corr
0.93	SAGWX	Sentinel Small Pany	Pair Corr
0.93	SSCOX	Sentinel Small Pany	Pair Corr
0.93	SSRRX	Sentinel Small	Pair Corr
0.73	SBACX	Sentinel Balanced	Pair Corr
0.84	CFSIX	Touchstone Sands Capital Steady Growth	Pair Corr
1.0	TGVFX	Growth Opportunities	Pair Corr
1.0	TGVYX	Growth Opportunities	Pair Corr
0.86	SCRLX	Sentinel Mon Stock	Pair Corr
0.88	SCSCX	Sentinel Mon Stock	Pair Corr
0.7	SEBLX	Sentinel Balanced	Pair Corr
0.87	SENCX	Sentinel Mon Stock	Pair Corr
0.89	CISGX	Touchstone Sands Capital Steady Growth	Pair Corr
0.99	TLGYX	Touchstone Large Pany	Pair Corr
0.92	TMAPX	Touchstone Mid Cap	Pair Corr
0.82	TMFCX	Touchstone Mid Cap	Pair Corr
0.7	SIBLX	Sentinel Balanced	Pair Corr
0.86	SICWX	Sentinel Mon Stock	Pair Corr
0.93	SIGWX	Sentinel Small Pany	Pair Corr
0.94	TOECX	Mid Cap Growth	Pair Corr
0.99	DSMLX	Touchstone Large Pany	Pair Corr

Moving against Growth Mutual Fund

0.74	SWRLX	Sentinel International	Pair Corr
0.51	TEQCX	Touchstone Sustainability	Pair Corr
0.74	SIIEX	Sentinel International	Pair Corr
0.74	TOIIX	Touchstone International	Pair Corr
0.7	TOBYX	Active Bond Fund	Pair Corr
0.69	TSDCX	Touchstone Ultra Short	Pair Corr
0.68	TSDAX	Touchstone Ultra Short	Pair Corr
0.65	TQPAX	Touchstone Strategic	Pair Corr
0.65	TQPYX	Touchstone Strategic	Pair Corr
0.61	TQPIX	Touchstone Strategic	Pair Corr

Related Correlations Analysis

	ABYSX	LVAQX	FMCRX	FCPVX	ESCIX	ARSVX	IAAEX	AOPAX
ABYSX		0.95	0.99	0.99	0.55	0.94	0.25	-0.31	ABYSX
LVAQX	0.95		0.95	0.95	0.47	0.9	0.4	-0.38	LVAQX
FMCRX	0.99	0.95		1.0	0.51	0.95	0.2	-0.37	FMCRX
FCPVX	0.99	0.95	1.0		0.52	0.95	0.21	-0.35	FCPVX
ESCIX	0.55	0.47	0.51	0.52		0.45	0.14	0.36	ESCIX
ARSVX	0.94	0.9	0.95	0.95	0.45		0.3	-0.36	ARSVX
IAAEX	0.25	0.4	0.2	0.21	0.14	0.3		0.06	IAAEX
AOPAX	-0.31	-0.38	-0.37	-0.35	0.36	-0.36	0.06		AOPAX
	ABYSX	LVAQX	FMCRX	FCPVX	ESCIX	ARSVX	IAAEX	AOPAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FCPVX	+ 1.0	FMCRX
FMCRX	+ 0.99	ABYSX
FCPVX	+ 0.99	ABYSX
LVAQX	+ 0.95	ABYSX
FMCRX	+ 0.95	LVAQX
FCPVX	+ 0.95	LVAQX

High negative correlations

AOPAX	- 0.38	LVAQX
AOPAX	- 0.37	FMCRX
AOPAX	- 0.36	ARSVX
AOPAX	- 0.35	FCPVX
AOPAX	- 0.31	ABYSX

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
ABYSX	0.87	(0.11)	0.00	(0.10)	0.00	0.00	1.43	(2.08)	4.03
LVAQX	0.85	(0.15)	0.00	(0.16)	0.00	0.00	1.58	(1.87)	3.75
FMCRX	0.87	(0.11)	0.00	(0.10)	0.00	0.00	1.46	(2.18)	4.06
FCPVX	0.88	(0.12)	0.00	(0.11)	0.00	0.00	1.70	(2.21)	4.29
ESCIX	0.75	(0.03)	0.00	(0.06)	0.00	0.00	1.87	(2.03)	4.56
ARSVX	0.71	(0.07)	0.00	0.62	0.00	0.00	1.47	(1.52)	3.39
IAAEX	0.81	(0.12)	0.00	1.00	0.00	0.00	1.41	(1.48)	9.17
AOPAX	0.46	0.04	0.06	0.11	0.63	(0.49)	1.15	(1.14)	3.90

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC