Growth Allocation Correlations

Mutual Funds . USA . 
Fund . Growth Allocation Fund
GGRYX Fund  USD 13.72  0.05  0.36%   
The current 90-days correlation between Growth Allocation and Growth Allocation Fund is 1.0 (i.e., No risk reduction). The correlation of Growth Allocation 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 Allocation Correlation With Market

Almost no diversification

The correlation between Growth Allocation Fund and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Allocation Fund 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 Allocation 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 manufacturing.

Moving together with Growth Mutual Fund

  0.88GVEYX Value Equity InstituPairCorr
  0.99GEQZX Equity Index InvestorPairCorr
  1.0GGBZX Aggressive AllocationPairCorr
  0.96GGEZX Growth Equity InvestorPairCorr
  1.0GMGYX Mydestination 2055PairCorr
  1.0GAGYX Aggressive AllocationPairCorr
  0.94GSCYX Small Cap EquityPairCorr
  1.0GBAYX Balanced AllocationPairCorr
  0.99FFIFX American FundsPairCorr
  0.99FAIFX American FundsPairCorr
  0.99IFACX Income FundPairCorr
  0.95IFAFX Income FundPairCorr
  0.95AMECX Income FundPairCorr
  0.99RIDBX Income FundPairCorr
  0.95CIMEX Income FundPairCorr
  0.99RIDFX Income FundPairCorr
  0.99CIMCX Income FundPairCorr
  0.99CIMFX Income FundPairCorr
  0.9CPAYX Columbia Pacific/asiaPairCorr
  0.7CASAX Columbia Pacific/asiaPairCorr
  0.84CASCX Columbia Pacific/asiaPairCorr
  0.75MIDSX Midas Fund MidasPairCorr
  0.97CISGX Touchstone Sands CapitalPairCorr
  0.96MGHRX Morgan Stanley InstiPairCorr
  0.98MGRPX Growth Portfolio ClassPairCorr
  0.69SSFOX State Street TargetPairCorr
  0.98RYCMX Russell 2000 15xPairCorr
  0.62AOD Aberdeen Total DynamicPairCorr
  0.93GVEZX Value Equity InvestorPairCorr
  0.92PAIPX Pimco Short AssetPairCorr
  0.73LBGCX Clearbridge Mid CapPairCorr
  0.79HILVX Harbor Large CapPairCorr
  0.65WMBZX Wells Fargo WealthbuilderPairCorr
  0.97MCCVX Mainstay ConvertiblePairCorr
  0.7MHCAX Mainstay High YieldPairCorr
  0.86VGSLX Vanguard Reit IndexPairCorr
  0.78XGGNX Gamco Global GoldPairCorr
  1.0JAWWX Janus Global ResearchPairCorr
  0.96HRNRX Hood River NewPairCorr

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 Allocation 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 Allocation'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
GCOZX  0.67  0.05  0.01  0.16  1.12 
(0.69)
 1.33 
(1.18)
 7.73 
GDMYX  0.48  0.17  0.17  0.50  0.14 
(0.62)
 1.23 
(0.91)
 7.02 
GDMZX  0.49  0.17  0.16  0.49  0.16 
(0.59)
 1.23 
(1.04)
 7.22 
GVEYX  0.99  0.13  0.02 (4.48) 1.61 
(1.02)
 2.32 
(2.00)
 10.50 
GVEZX  1.01  0.04  0.02  0.13  1.61 
(1.05)
 2.32 
(1.94)
 10.51 
GVIYX  0.67  0.11  0.05  0.47  0.82 
(0.78)
 1.57 
(1.16)
 4.30 
GVIZX  0.79  0.20  0.17  0.42  0.62 
(0.97)
 1.66 
(1.16)
 10.14 
GEIYX  1.10  0.49  0.26 (1.92) 0.87 
(1.34)
 2.73 
(1.54)
 15.71 
GEIZX  1.25  0.14  0.07  0.20  1.80 
(1.29)
 2.73 
(3.00)
 15.70 
GEMZX  0.85  0.10  0.04  0.24  1.26 
(0.88)
 2.69 
(2.34)
 6.85 

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