Ultra Fund Correlations

Mutual Funds . USA . 
Fund . Ultra Fund Investor
TWCUX Fund  USD 95.60  0.66  0.69%   
The current 90-days correlation between Ultra Fund Investor and Growth Fund Investor is -0.03 (i.e., Good diversification). The correlation of Ultra Fund 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.

Ultra Fund Correlation With Market

Poor diversification

The correlation between Ultra Fund Investor and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultra Fund Investor 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 Ultra Fund Investor. 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 employment.

Moving together with Ultra Mutual Fund

  0.77AMDVX Mid Cap ValuePairCorr
  0.99AMEIX Equity GrowthPairCorr
  0.92AMGIX Income GrowthPairCorr
  0.87TWADX Value Fund APairCorr
  1.0TWCCX Ultra Fund CPairCorr
  0.99TWCAX Select Fund APairCorr
  0.99TWCIX Select Fund InvestorPairCorr
  0.94TWCGX Growth Fund InvestorPairCorr
  0.77AMVYX Mid Cap ValuePairCorr
  0.76AMVRX Mid Cap ValuePairCorr
  0.76TWBIX Balanced Fund InvestorPairCorr
  0.77AMVGX Mid Cap ValuePairCorr
  0.79TWEAX Equity IncomePairCorr
  0.79TWEIX Equity IncomePairCorr
  0.99TWGIX Growth Fund IPairCorr
  0.93TWHIX Heritage Fund InvestorPairCorr
  0.99TWRCX Growth Fund CPairCorr
  0.71TWSCX Strategic Allocation:PairCorr
  0.92TWSAX Strategic Allocation:PairCorr
  0.85TWSMX Strategic Allocation:PairCorr
  0.99TWSIX Select Fund IPairCorr
  0.84TWVLX Value Fund InvestorPairCorr
  1.0TWUAX Ultra Fund APairCorr
  1.0TWUIX Ultra Fund IPairCorr
  0.63NPHIX High Income FundPairCorr
  0.91ANORX Small Cap GrowthPairCorr

Moving against Ultra Mutual Fund

  0.8CDBCX Diversified BondPairCorr
  0.69TWAVX Short Term GovernmentPairCorr
  0.66TWACX Short Term GovernmentPairCorr
  0.63TWARX Short Term GovernmentPairCorr
  0.54TWGAX International GrowthPairCorr
  0.54TWIEX International GrowthPairCorr
  0.5TWTCX Intermediate Term TaxPairCorr
  0.39TWTIX Intermediate Term TaxPairCorr
  0.69ANTUX Nt Non IntrinsicPairCorr
  0.69ANVHX American Century NonPairCorr
  0.68ANVMX American Century NonPairCorr
  0.67ANTGX Nt Non IntrinsicPairCorr
  0.54TWUSX Short Term GovernmentPairCorr
  0.45ANTSX Nt International SmallPairCorr
  0.44TWWOX Intermediate Term TaxPairCorr
  0.43ANTMX Nt International SmallPairCorr

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   
JAWWX
+ 0.98
TWCIX
TWHIX
+ 0.94
TWCGX
TWCIX
+ 0.93
TWCGX
JAWWX
+ 0.92
TWCGX
TWHIX
+ 0.9
TWCIX
JAWWX
+ 0.88
TWHIX
  
High negative correlations   
TWHIX
- 0.66
TWIEX
TWIEX
- 0.51
TWCGX
TWIEX
- 0.47
TWCIX
JAWWX
- 0.38
TWIEX

Risk-Adjusted Indicators

There is a big difference between Ultra Mutual Fund performing well and Ultra Fund 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 Ultra Fund'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.

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