Common Stock Correlations

Mutual Funds . USA . 
Fund . Common Stock Fund
FMIUX Fund  USD 38.76  0.13  0.33%   
The current 90-days correlation between Common Stock and Qs Defensive Growth is 0.8 (i.e., Very poor diversification). The correlation of Common Stock 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.

Common Stock Correlation With Market

Very poor diversification

The correlation between Common Stock Fund and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Common Stock Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Common Stock Fund. 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 Common Mutual Fund

  0.93FMIYX International FundPairCorr
  0.98FMIQX Large Cap FundPairCorr
  1.0FMIMX Common StockPairCorr
  0.93FMIJX International FundPairCorr
  0.98FMIHX Large Cap FundPairCorr
  0.92FMIFX Fidelity Municipal IncomePairCorr
  0.99VIMAX Vanguard Mid CapPairCorr
  0.99VIMSX Vanguard Mid CapPairCorr
  0.99VMCPX Vanguard Mid CapPairCorr
  0.99VMCIX Vanguard Mid CapPairCorr
  0.98VEXAX Vanguard Extended MarketPairCorr
  0.98VEMPX Vanguard Extended MarketPairCorr
  0.98VIEIX Vanguard Extended MarketPairCorr
  0.96VSEMX Vanguard Extended MarketPairCorr
  0.98VEXMX Vanguard Extended MarketPairCorr
  0.99FSMAX Fidelity Extended MarketPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VITSX Vanguard Total StockPairCorr
  0.97VFFSX Vanguard 500 IndexPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr
  0.95VTISX Vanguard Total InterPairCorr
  0.95VTSNX Vanguard Total InterPairCorr
  0.95VTPSX Vanguard Total InterPairCorr
  0.97VINIX Vanguard InstitutionalPairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.99VSMAX Vanguard Small CapPairCorr
  0.97SPINX Siit Sp 500PairCorr
  0.98JRSDX Intech Managed VolatilityPairCorr
  0.95HSSAX Emerald Banking AndPairCorr
  0.95GIMFX Gmo ImplementationPairCorr
  0.95CEVZX Columbia Global EquityPairCorr
  0.97PLJMX Putnam ResearchPairCorr
  0.72BRIXX Blackrock Funds IiiPairCorr
  0.91BARIX Baron Asset FundPairCorr
  0.91GGDPX Goldman Sachs InternPairCorr
  0.95OYCIX Oppenhemier CnsrvtvPairCorr
  0.91JSISX Jpmorgan UnconstrainedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Common Mutual Fund performing well and Common Stock 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 Common Stock'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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