Growth Fund Correlations

Mutual Funds . USA . 
Fund . Growth Fund Of
GFFFX Fund  USD 83.30  0.13  0.16%   
The current 90-days correlation between Growth Fund and Hennessy Technology Fund is 0.89 (i.e., Very poor 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

Poor diversification

The correlation between Growth Fund Of and DJI is 0.79 (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 census.

Moving together with Growth Mutual Fund

  0.99AMECX Income FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.67FPPPX American Funds PresePairCorr
  0.72AMHIX American High IncomePairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.62RNPHX New PerspectivePairCorr
  1.0RNPGX New PerspectivePairCorr
  0.99AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.85RNWGX New World FundPairCorr
  0.67ANCFX American Funds FundaPairCorr
  0.66CENAX American Funds LegePairCorr
  0.84ANWPX New PerspectivePairCorr
  0.86BALFX American BalancedPairCorr
  0.99BALCX American BalancedPairCorr
  1.0CWGIX Capital World GrowthPairCorr
  1.0CWGFX Capital World GrowthPairCorr
  1.0WSHFX Washington MutualPairCorr
  0.85FAETX American Funds 2030PairCorr
  0.85FAFGX American FundsPairCorr
  0.93FAX Aberdeen Asia PacificPairCorr
  0.65CFIHX Capital Income BuilderPairCorr
  1.0FAQTX American Funds 2035PairCorr
  1.0GWPFX American Funds GrowthPairCorr
  1.0GFACX Growth FundPairCorr
  0.85GFAFX Growth FundPairCorr
  0.99SCWFX Smallcap WorldPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  0.85FSWFX American Funds SmallcapPairCorr
  1.0CGFEX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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