Monetta Young Correlations

Mutual Funds . USA . 
Fund . Monetta Young Investor
MYIFX Fund  USD 20.72  0.08  0.39%   
The current 90-days correlation between Monetta Young Investor and Parnassus Endeavor Fund is 0.89 (i.e., Very poor diversification). The correlation of Monetta Young 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.

Monetta Young Correlation With Market

Very poor diversification

The correlation between Monetta Young Investor and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monetta Young Investor and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Monetta Young Investor. 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 Monetta Mutual Fund

  1.0MONTX Monetta Fund MonettaPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  1.0GFAFX Growth FundPairCorr
  1.0AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  1.0CGFAX Growth FundPairCorr
  1.0CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  0.98VGTSX Vanguard Total InterPairCorr
  0.98VTIAX Vanguard Total InterPairCorr
  1.0BZGIX Blackrock CollegeadvantagePairCorr
  0.98DNSMX Driehaus Small CapPairCorr
  0.83THIMX Thornburg IntermediatePairCorr
  0.99POGSX Pin Oak EquityPairCorr
  0.91FZDAQX FzdaqxPairCorr
  0.97PXSCX Pax Small CapPairCorr
  0.98ASLAX Ab Select LongshortPairCorr
  0.99DSHFX Brinker Capital DestPairCorr
  1.0JAHVX John Hancock VariablePairCorr
  0.84TMSSX T Rowe PricePairCorr
  0.99VSCGX Vanguard LifestrategyPairCorr
  0.98FLRHX Franklin Lifesmart 2035PairCorr
  0.98VTINX Vanguard Target RetiPairCorr
  0.96RTIYX Select InternationalPairCorr
  0.98FNIDX Fidelity Intl SustaiPairCorr
  0.99TEMWX Templeton WorldPairCorr
  0.99RFETX American Funds 2030PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Monetta Mutual Fund performing well and Monetta Young 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 Monetta Young'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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