Target Retirement Correlations

URINX Fund

USD 11.09 0.05 0.45%

The current 90-days correlation between Target Retirement Income and Income Fund Income is 0.55 (i.e., Very weak diversification). The correlation of Target Retirement 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 Retirement Correlation With Market

Average diversification

The correlation between Target Retirement Income and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target Retirement Income 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 Retirement Income. 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 board of governors.

Moving together with Target Mutual Fund

0.72	UITIX	Usaa Tax Exempt	Pair Corr
0.71	GUTEX	Victory Tax Exempt	Pair Corr
0.81	SBALX	Victory Strategic	Pair Corr
0.73	ULTIX	Usaa Tax Exempt	Pair Corr
0.68	IPFIX	Victory Incore	Pair Corr
0.69	RSDYX	Victory Incore Low	Pair Corr
0.62	RSGGX	Victory Rs Global	Pair Corr

Moving against Target Mutual Fund

0.33

UNYBX

New York Bond

Pair Corr

Related Correlations Analysis

	UINCX	UINQX	SRVEX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBALX	SSVSX
UINCX		-0.46	-0.54	0.94	0.99	0.62	0.59	-0.41	0.16	-0.55	UINCX
UINQX	-0.46		0.93	-0.58	-0.54	0.11	0.18	0.83	0.56	0.97	UINQX
SRVEX	-0.54	0.93		-0.65	-0.62	0.07	0.13	0.91	0.62	0.96	SRVEX
UITBX	0.94	-0.58	-0.65		0.96	0.51	0.55	-0.48	0.07	-0.65	UITBX
UITCX	0.99	-0.54	-0.62	0.96		0.58	0.53	-0.49	0.08	-0.63	UITCX
UITIX	0.62	0.11	0.07	0.51	0.58		0.87	0.16	0.53	0.06	UITIX
GUTEX	0.59	0.18	0.13	0.55	0.53	0.87		0.31	0.54	0.14	GUTEX
SSGSX	-0.41	0.83	0.91	-0.48	-0.49	0.16	0.31		0.56	0.86	SSGSX
SBALX	0.16	0.56	0.62	0.07	0.08	0.53	0.54	0.56		0.56	SBALX
SSVSX	-0.55	0.97	0.96	-0.65	-0.63	0.06	0.14	0.86	0.56		SSVSX
	UINCX	UINQX	SRVEX	UITBX	UITCX	UITIX	GUTEX	SSGSX	SBALX	SSVSX

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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

UITCX	+ 0.99	UINCX
SSVSX	+ 0.97	UINQX
SSVSX	+ 0.96	SRVEX
UITCX	+ 0.96	UITBX
UITBX	+ 0.94	UINCX
SRVEX	+ 0.93	UINQX

High negative correlations

SSVSX	- 0.65	UITBX
UITBX	- 0.65	SRVEX
SSVSX	- 0.63	UITCX
UITCX	- 0.62	SRVEX
UITBX	- 0.58	UINQX
SSVSX	- 0.55	UINCX

Risk-Adjusted Indicators

There is a big difference between Target Mutual Fund performing well and Target Retirement 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 Retirement'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
UINCX	0.22	(0.04)	0.00	(0.50)	0.00	0.00	0.43	(0.60)	1.22
UINQX	0.68	0.17	0.08	5.38	0.70	(0.73)	1.57	(1.43)	5.14
SRVEX	0.55	0.06	0.06	0.15	0.58	(0.62)	1.18	(0.89)	5.12
UITBX	0.22	(0.05)	0.00	1.68	0.00	0.00	0.43	(0.55)	1.21
UITCX	0.21	(0.05)	0.00	(1.13)	0.00	0.00	0.33	(0.55)	1.20
UITIX	0.12	(0.02)	(0.29)	(0.15)	0.20	(0.19)	0.32	(0.40)	1.19
GUTEX	0.22	(0.01)	0.00	0.17	0.00	0.00	0.58	(0.70)	1.90
SSGSX	0.79	0.04	0.09	0.12	0.57	(1.00)	1.77	(1.21)	7.39
SBALX	0.32	0.00	(0.15)	0.08	0.27	(0.39)	0.75	(0.59)	2.07
SSVSX	0.55	0.14	0.08	1.20	0.55	(0.62)	1.20	(0.87)	5.12

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