Emerald Growth Correlations

Mutual Funds . USA . 
Fund . Emerald Growth Fund
HSPCX Fund  USD 16.82  0.11  0.65%   
The current 90-days correlation between Emerald Growth and Emerald Growth Fund is 0.97 (i.e., Almost no diversification). The correlation of Emerald Growth 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.

Emerald Growth Correlation With Market

Very poor diversification

The correlation between Emerald Growth Fund and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerald Growth 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 Emerald Growth 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 main economic indicators.

Moving together with Emerald Mutual Fund

  0.92FFBFX Emerald Banking AndPairCorr
  1.0FFGRX Emerald GrowthPairCorr
  1.0FGROX Emerald GrowthPairCorr
  1.0EFCCX Emerald InsightsPairCorr
  1.0EFCAX Emerald InsightsPairCorr
  1.0EFCNX Emerald InsightsPairCorr
  1.0EFCIX Emerald InsightsPairCorr
  1.0HSPGX Emerald GrowthPairCorr
  0.92HSSAX Emerald Banking AndPairCorr
  0.91HSSCX Emerald Banking AndPairCorr
  0.92HSSIX Emerald Banking AndPairCorr
  0.99VSGAX Vanguard Small CapPairCorr
  0.99VSGIX Vanguard Small CapPairCorr
  0.98VISGX Vanguard Small CapPairCorr
  0.98VEXPX Vanguard ExplorerPairCorr
  0.98VEXRX Vanguard ExplorerPairCorr
  0.99JGMIX Janus TritonPairCorr
  0.99JGMRX Janus TritonPairCorr
  0.99JGMAX Janus TritonPairCorr
  0.99JGMCX Janus TritonPairCorr
  0.99JGMNX Janus TritonPairCorr
  0.99SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.99SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.96TTEEX T Rowe PricePairCorr
  0.96TREMX T Rowe PricePairCorr
  0.99FIKGX Fidelity Advisor SemPairCorr
  0.99ONERX One Rock Fund Steady GrowthPairCorr
  0.99FELCX Fidelity Advisor SemPairCorr
  0.99FELIX Fidelity Advisor SemPairCorr
  0.99FSELX Fidelity Select SemiPairCorr
  0.99FELAX Fidelity Advisor SemPairCorr
  0.98PDAIX Pinebridge Dynamic AssetPairCorr
  0.63MTFCX Mainstay Tax FreePairCorr
  0.99JHBJX John Hancock FundsPairCorr
  0.86FRIFX Fidelity Real EstatePairCorr
  0.95MSAAX Active InternationalPairCorr
  0.97GDIRX Goldman Sachs ShortPairCorr
  0.98RPELX T Rowe PricePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Emerald Mutual Fund performing well and Emerald Growth 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 Emerald Growth'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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