Congress Large Correlations

Mutual Funds . USA . 
Fund . Congress Large Cap
CMLIX Fund  USD 49.44  0.16  0.32%   
The current 90-days correlation between Congress Large Cap and Enhanced Fixed Income is 0.5 (i.e., Very weak diversification). The correlation of Congress Large 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.

Congress Large Correlation With Market

Almost no diversification

The correlation between Congress Large Cap and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Congress Large Cap 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 Congress Large Cap. 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 gross domestic product.

Moving together with Congress Mutual Fund

  0.97IMIDX Congress Mid CapPairCorr
  0.97CMIDX Congress Mid CapPairCorr
  1.0CAMLX Congress Large CapPairCorr
  0.99CSMCX Century Small CapPairCorr
  0.99CSMVX Century Small CapPairCorr
  0.99FAFGX American FundsPairCorr
  0.99FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99RGAEX Growth FundPairCorr
  0.95PDI Pimco Dynamic IncomePairCorr
  0.91FTCAX Templeton Strained BondPairCorr
  0.98OBMCX Oberweis Micro CapPairCorr
  0.93PDARX Diversified Real AssetPairCorr
  0.98IASMX Guinness Atkinson AsiaPairCorr
  0.98DILCX Davis InternationalPairCorr
  0.99JTRBX Jpmorgan SmartretirementPairCorr
  0.76FPHAX Pharmaceuticals PortfolioPairCorr
  0.88MLXIX Catalyst Mlp InfrastPairCorr
  0.66VCMDX Vanguard CommodityPairCorr
  0.98MSEGX Growth Portfolio Class Potential GrowthPairCorr
  0.98CBLSX Cb Large CapPairCorr
  0.93NWHZX Nationwide Geneva SmallPairCorr
  0.92SITEX Sit Emerging MarketsPairCorr
  0.68IMAAX Ivy Apollo MultiPairCorr
  0.89PSHAX Short Term FundPairCorr

Moving against Congress Mutual Fund

  0.99USPSX Profunds UltrashortPairCorr
  0.87TCTGX Transamerica CleartrackPairCorr
  0.87TDKTX Cleartrack 2015 ClassPairCorr
  0.99USPIX Profunds UltrashortPairCorr
  0.99UIPIX Ultrashort Mid CapPairCorr
  0.87TCTJX Transamerica CleartrackPairCorr
  0.84TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Congress Mutual Fund performing well and Congress Large 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 Congress Large'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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