Select Fund Correlations

Mutual Funds . USA . 
Fund . Select Fund R6
ASDEX Fund  USD 133.71  0.30  0.22%   
The current 90-days correlation between Select Fund R6 and Great West Goldman Sachs is 0.77 (i.e., Poor diversification). The correlation of Select 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.

Select Fund Correlation With Market

Very poor diversification

The correlation between Select Fund R6 and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Fund R6 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Select Fund R6. 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 income.

Moving together with Select Mutual Fund

  0.99TWSMX Strategic Allocation:PairCorr
  1.0ASERX Select Fund RPairCorr
  1.0ACSLX Select Fund CPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  0.98CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr
  0.89FSMMX Fs Multi StrategyPairCorr
  0.94BTMPX Ishares Msci EafePairCorr
  0.94BTMKX Blackrock InternationalPairCorr
  0.94MDIIX Blackrock Intern IndexPairCorr
  0.73SPMPX Invesco Steelpath MlpPairCorr
  0.74MLPNX Oppenheimer Steelpath MlpPairCorr
  0.72MLPMX Oppenheimer Steelpath MlpPairCorr
  0.73SPMJX Invesco Steelpath MlpPairCorr
  0.94TEQAX Touchstone SustainabilityPairCorr
  0.97SIVIX State Street Institu Potential GrowthPairCorr
  0.95IAF Aberdeen AustraliaPairCorr
  0.97BAC Bank of AmericaPairCorr
  0.85PFE Pfizer Inc Sell-off TrendPairCorr
  0.73INTC Intel Earnings Call This WeekPairCorr
  0.92MMM 3M Company Earnings Call TomorrowPairCorr
  0.96JPM JPMorgan ChasePairCorr
  0.97DIS Walt DisneyPairCorr
  0.95BA Boeing Aggressive PushPairCorr
  0.97AXP American Express Earnings Call TomorrowPairCorr
  0.92IBM International Business Earnings Call This WeekPairCorr

Moving against Select Mutual Fund

  0.61MCD McDonaldsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Select Mutual Fund performing well and Select 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 Select 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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