Growth Fund Correlations

Mutual Funds . USA . 
Fund . Growth Fund Of
GFAFX Fund  USD 89.06  0.49  0.55%   
The current 90-days correlation between Growth Fund and Growth Fund Of is 1.0 (i.e., No risk reduction). 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

Poor diversification

The correlation between Growth Fund Of and DJI is 0.74 (i.e., Poor 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 Risk vs Return Analysis 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 price.

Moving together with Growth Mutual Fund

  0.73AMFCX American MutualPairCorr
  0.63AMFFX American MutualPairCorr
  0.88AMPCX Amcap Fund ClassPairCorr
  0.87AMPFX Amcap Fund ClassPairCorr
  0.64AMRMX American MutualPairCorr
  0.66ANCFX American Funds FundaPairCorr
  0.66ANFCX New Economy FundPairCorr
  0.65ANFFX New Economy FundPairCorr
  0.94NPFCX New PerspectivePairCorr
  0.93NPFFX New PerspectivePairCorr
  0.7PGGFX American Funds GlobalPairCorr
  0.73ANWPX New PerspectivePairCorr
  0.67BALFX American BalancedPairCorr
  0.63CWGFX Capital World GrowthPairCorr
  0.83CWGCX Capital World GrowthPairCorr
  0.77WSHFX Washington MutualPairCorr
  0.71WSHCX Washington MutualPairCorr
  0.63FAATX American Funds 2010PairCorr
  0.67FAETX American Funds 2030PairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GFFFX  0.67 (0.02)(0.02) 0.05  1.07 
(0.62)
 1.41 
(1.99)
 4.16 
GAFFX  0.67 (0.02)(0.02) 0.05  1.07 
(0.62)
 1.40 
(1.99)
 4.17 
RGAGX  0.66  0.04 (0.02) 0.90  1.07 
(0.61)
 1.41 
(1.99)
 4.14 
AGTHX  0.67  0.04 (0.02) 0.73  1.10 
(0.61)
 1.41 
(1.98)
 4.15 
RGABX  0.67 (0.03)(0.02) 0.04  1.08 
(0.61)
 1.40 
(1.99)
 4.15 
RGAAX  0.67 (0.03)(0.02) 0.04  1.08 
(0.61)
 1.40 
(2.00)
 4.15 
GFACX  0.66  0.04 (0.03) 0.84  1.08 
(0.61)
 1.40 
(1.98)
 4.15 
ABALX  0.38  0.05 (0.01) 0.58  0.46 
(0.39)
 0.97 
(0.87)
 2.70 
RLBGX  0.39  0.03  0.01  0.13  0.39 
(0.42)
 0.97 
(0.86)
 2.70 
BALFX  0.39  0.03  0.01  0.13  0.40 
(0.42)
 0.97 
(0.87)
 2.73 

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