Multimanager Lifestyle Correlations

Mutual Funds . USA . 
Fund . Multimanager Lifestyle Moderate
JHLMX Fund  USD 12.76  0.05  0.39%   
The current 90-days correlation between Multimanager Lifestyle and Dreyfus Natural Resources is 0.06 (i.e., Significant diversification). The correlation of Multimanager Lifestyle 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.

Multimanager Lifestyle Correlation With Market

Poor diversification

The correlation between Multimanager Lifestyle Moderat and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multimanager Lifestyle Moderat 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 Multimanager Lifestyle Moderate. 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 population.

Moving together with Multimanager Mutual Fund

  0.97VWINX Vanguard Wellesley IncomePairCorr
  0.97VWIAX Vanguard Wellesley IncomePairCorr
  0.99BKMIX Blackrock Multi AssetPairCorr
  0.98HBLTX Hartford BalancedPairCorr
  0.98HBLRX Hartford BalancedPairCorr
  0.98HBLSX Hartford BalancedPairCorr
  0.98HBLVX Hartford BalancedPairCorr
  0.98HBLYX Hartford BalancedPairCorr
  0.98HBLCX Hartford BalancedPairCorr
  0.98HBLIX Hartford BalancedPairCorr
  0.62SMPSX Semiconductor UltrasectorPairCorr
  0.61SMPIX Semiconductor UltrasectorPairCorr
  0.96TREMX T Rowe PricePairCorr
  0.98ONERX One Rock FundPairCorr
  0.96TTEEX T Rowe PricePairCorr
  0.99FIKGX Fidelity Advisor SemPairCorr
  0.99FELIX Fidelity Advisor SemPairCorr
  0.99FSELX Fidelity Select SemiPairCorr
  0.99FELAX Fidelity Advisor SemPairCorr
  0.99FELTX Fidelity Advisor SemPairCorr
  0.93RIVKX American Funds InterPairCorr
  0.95FDEGX Fidelity Growth StraPairCorr
  0.63CVX Chevron CorpPairCorr

Moving against Multimanager Mutual Fund

  0.61MCD McDonaldsPairCorr
  0.42TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Multimanager Mutual Fund performing well and Multimanager Lifestyle 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 Multimanager Lifestyle'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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