Growth Fund Correlations

CGFEX Fund

USD 70.32 1.50 2.18%

The current 90-days correlation between Growth Fund and Growth Income Fund is 0.97 (i.e., Almost no diversification). The correlation of Growth 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.

Growth Fund Correlation With Market

Good diversification

The correlation between Growth Fund Of and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Fund Of 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 Growth Fund Of. 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 Growth Mutual Fund

0.75	RNEBX	New World Fund	Pair Corr
0.92	AMFCX	American Mutual	Pair Corr
0.92	AMFFX	American Mutual	Pair Corr
0.79	RNCCX	American Funds Income	Pair Corr
0.66	AMEFX	Income Fund	Pair Corr
0.71	TECCX	Tax Exempt Fund	Pair Corr
0.79	FPTPX	American Funds Conse	Pair Corr
0.95	AMPFX	Amcap Fund Class	Pair Corr
0.96	RNPHX	New Perspective	Pair Corr
0.91	RNPGX	New Perspective	Pair Corr
0.96	RNPFX	New Perspective	Pair Corr
0.89	AMRMX	American Mutual	Pair Corr
0.69	RNWGX	New World Fund	Pair Corr
0.94	ANCFX	American Funds Funda	Pair Corr
0.91	NPFFX	New Perspective	Pair Corr
0.98	PGGFX	American Funds Global	Pair Corr
0.93	BALFX	American Balanced	Pair Corr
0.93	BALCX	American Balanced	Pair Corr
0.89	CWGIX	Capital World Growth	Pair Corr
0.89	CWGFX	Capital World Growth	Pair Corr
0.94	CWGCX	Capital World Growth	Pair Corr
0.77	CEUCX	Europacific Growth	Pair Corr
0.72	CEUAX	Europacific Growth	Pair Corr
0.97	WSHFX	Washington Mutual	Pair Corr
0.89	CWICX	Capital World Growth	Pair Corr
0.89	CWIAX	Capital World Growth	Pair Corr
0.76	CEUFX	Europacific Growth	Pair Corr
0.76	CEUEX	Europacific Growth	Pair Corr
0.89	FAETX	American Funds 2030	Pair Corr
1.0	FAFGX	American Funds	Pair Corr
0.93	FAITX	American Funds 2050	Pair Corr
0.93	FAJTX	American Funds 2055	Pair Corr
0.75	FAKTX	American Funds 2015	Pair Corr

Moving against Growth Mutual Fund

0.87	FPPPX	American Funds Prese	Pair Corr
0.81	ANBAX	American Funds Strategic	Pair Corr
0.74	AMUSX	Us Government Securities	Pair Corr
0.87	RPPCX	American Funds Prese	Pair Corr

Related Correlations Analysis

	UIGIX	UIGRX	GCOYX	GCOZX	TWCGX	TWGIX	TWRCX	USAAX	USBLX
UIGIX		0.91	0.0	0.9	0.98	0.92	0.92	0.98	0.98	UIGIX
UIGRX	0.91		0.0	0.92	0.95	1.0	1.0	0.95	0.89	UIGRX
GCOYX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	GCOYX
GCOZX	0.9	0.92	0.0		0.87	0.92	0.92	0.88	0.87	GCOZX
TWCGX	0.98	0.95	0.0	0.87		0.96	0.96	1.0	0.96	TWCGX
TWGIX	0.92	1.0	0.0	0.92	0.96		1.0	0.95	0.9	TWGIX
TWRCX	0.92	1.0	0.0	0.92	0.96	1.0		0.95	0.9	TWRCX
USAAX	0.98	0.95	0.0	0.88	1.0	0.95	0.95		0.96	USAAX
USBLX	0.98	0.89	0.0	0.87	0.96	0.9	0.9	0.96		USBLX
	UIGIX	UIGRX	GCOYX	GCOZX	TWCGX	TWGIX	TWRCX	USAAX	USBLX

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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

TWGIX	+ 1.0	UIGRX
TWRCX	+ 1.0	UIGRX
USAAX	+ 1.0	TWCGX
TWRCX	+ 1.0	TWGIX
TWCGX	+ 0.98	UIGIX
USAAX	+ 0.98	UIGIX

High negative correlations

USBLX	- 0.0	GCOYX
USAAX	- 0.0	GCOYX
TWRCX	- 0.0	GCOYX
TWGIX	- 0.0	GCOYX
TWCGX	- 0.0	GCOYX
GCOZX	- 0.0	GCOYX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
UIGIX	1.09	(0.09)	0.94	1.78	(2.30)	11.53
UIGRX	1.56	0.04	(0.09)	2.64	(4.08)	15.72
GCOYX	0.00	0.00	0.00	0.00	0.00	0.00
GCOZX	0.79	0.06	(0.04)	1.33	(1.86)	7.73
TWCGX	1.52	(0.14)	1.50	2.50	(4.06)	15.75
TWGIX	1.52	0.03	(0.11)	2.52	(4.06)	15.74
TWRCX	1.52	0.02	(0.11)	2.50	(4.07)	15.77
USAAX	1.57	(0.12)	1.11	2.63	(4.07)	15.71
USBLX	0.62	(0.08)	0.45	1.03	(1.34)	4.47

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