Needham Aggressive Correlations

Mutual Funds . USA . 
Fund . Needham Aggressive Growth
NEAGX Fund  USD 52.37  0.03  0.06%   
The current 90-days correlation between Needham Aggressive Growth and Needham Aggressive Growth is 1.0 (i.e., No risk reduction). The correlation of Needham Aggressive 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.

Needham Aggressive Correlation With Market

Poor diversification

The correlation between Needham Aggressive Growth 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 Needham Aggressive Growth 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 Needham Aggressive 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 price.

Moving together with Needham Mutual Fund

  1.0NEAIX Needham Aggressive GrowthPairCorr
  0.97NEEGX Needham GrowthPairCorr
  0.97NEEIX Needham GrowthPairCorr
  0.99NESGX Needham Small CapPairCorr
  0.99NESIX Needham Small CapPairCorr
  0.99VSGAX Vanguard Small CapPairCorr
  0.99VSGIX Vanguard Small CapPairCorr
  0.99VISGX Vanguard Small CapPairCorr
  0.99VEXPX Vanguard ExplorerPairCorr
  0.99VEXRX Vanguard ExplorerPairCorr
  0.98JGMIX Janus TritonPairCorr
  0.98JGMRX Janus TritonPairCorr
  0.98JGMAX Janus TritonPairCorr
  0.98JGMCX Janus TritonPairCorr
  0.98JGMNX Janus TritonPairCorr
  0.97SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.97SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.83EMO Clearbridge Energy MlpPairCorr
  0.72OSPPX Oppenheimer Steelpath MlpPairCorr
  0.71SPMPX Invesco Steelpath MlpPairCorr
  0.72MLPNX Oppenheimer Steelpath MlpPairCorr
  0.98RSNYX Victory Global NaturalPairCorr
  0.7MLPLX Oppenheimer Steelpath MlpPairCorr
  0.98RSNRX Victory Global NaturalPairCorr
  0.7SPMJX Invesco Steelpath MlpPairCorr
  0.97FAFCX Fidelity Advisor FinPairCorr
  0.99VBIAX Vanguard Balanced IndexPairCorr
  0.77AMHIX American High IncomePairCorr
  0.85TWTCX Intermediate Term TaxPairCorr
  0.87BTFRX Bts Tactical FixedPairCorr
  0.98GSHTX Goldman Sachs HighPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.99FCJTX American Funds 2055PairCorr
  0.68VBILX Vanguard Intermediate-terPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.99JGLTX Global TechnologyPairCorr
  0.99FSWFX American Funds SmallcapPairCorr
  0.92RSVIX Rbc Small CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Needham Mutual Fund performing well and Needham Aggressive 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 Needham Aggressive'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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