Growth Fund Correlations

Mutual Funds . USA . 
Fund . Growth Fund Growth
HNASX Fund  USD 19.77  0.01  0.05%   
The current 90-days correlation between Growth Fund Growth and Value Fund Value is 0.79 (i.e., 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

Very poor diversification

The correlation between Growth Fund Growth and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Fund Growth 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 Growth. 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 state.

Moving together with Growth Mutual Fund

  0.89HISIX International EquityPairCorr
  0.62HOIBX Homestead IntermediatePairCorr
  0.79HOSBX Short Term BondPairCorr
  0.96HOVLX Value Fund ValuePairCorr
  0.96HSCSX Small-company StockPairCorr
  0.98HSTIX Stock Index FundPairCorr
  0.98FAFGX American FundsPairCorr
  0.98FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.97GFAFX Growth FundPairCorr
  0.97AGTHX Growth FundPairCorr
  0.98CGFFX Growth FundPairCorr
  0.97CGFCX Growth FundPairCorr
  0.97CGFAX Growth FundPairCorr
  0.97CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.68GAAKX Gmo Alternative AlloPairCorr
  0.66GAAGX Gmo Alternative AlloPairCorr
  0.62GPBFX Gmo E PlusPairCorr
  0.96MNEAX Mainstay Conservative EtfPairCorr
  0.98FBITX American Funds 2050PairCorr
  0.95FIQSX Fidelity Advisor FloatingPairCorr
  0.86ECSIX Eaton Vance ShortPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.99TRZBX T Rowe PricePairCorr
  0.97TEPIX Technology UltrasectorPairCorr
  0.91BTSRX Bts Managed IncomePairCorr
  0.98AUUYX Ab Select EquityPairCorr
  0.96QTERX Aqr Tm EmergingPairCorr
  0.92TAEDX Transamerica EmergingPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.98RRTIX T Rowe PricePairCorr
  0.95VRHYX Virtus High YieldPairCorr

Moving against Growth Mutual Fund

  0.54GPMFX Guidepath Managed FuturesPairCorr
  0.35PQTAX Pimco Trends ManagedPairCorr
  0.34PQTNX Pimco Trends ManagedPairCorr

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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