Needham Aggressive Correlations

NEAIX Fund

USD 61.81 0.78 1.25%

The current 90-days correlation between Needham Aggressive Growth and Needham Small Cap is 0.92 (i.e., Almost no diversification). 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 0.69 (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 gross domestic product.

Moving together with Needham Mutual Fund

1.0	NEAGX	Needham Aggressive Growth	Pair Corr
0.83	NEEGX	Needham Growth	Pair Corr
0.75	NEEIX	Needham Growth	Pair Corr
0.93	NESGX	Needham Small Cap	Pair Corr
0.94	NESIX	Needham Small Cap	Pair Corr
0.93	VSGAX	Vanguard Small Cap	Pair Corr
0.93	VSGIX	Vanguard Small Cap	Pair Corr
0.93	VISGX	Vanguard Small Cap	Pair Corr
0.88	VEXPX	Vanguard Explorer	Pair Corr
0.88	VEXRX	Vanguard Explorer	Pair Corr
0.79	JGMIX	Janus Triton	Pair Corr
0.78	JGMRX	Janus Triton	Pair Corr
0.66	JGMAX	Janus Triton	Pair Corr
0.78	JGMCX	Janus Triton	Pair Corr
0.8	JGMNX	Janus Triton	Pair Corr
0.94	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.94	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.94	FGPMX	Franklin Gold And Steady Growth	Pair Corr
0.93	FRGOX	Franklin Gold Precious	Pair Corr
0.93	MIDSX	Midas Fund Midas	Pair Corr
0.93	FIJDX	Gold Portfolio Fidelity Steady Growth	Pair Corr
0.91	FIOOX	Fidelity Series 1000	Pair Corr
0.84	BFRNX	Barrow Hanley Floating	Pair Corr
0.92	MXGUX	Great West Lifetime	Pair Corr
0.89	NWABX	Nationwide Fund6	Pair Corr
0.84	GBXIX	Nationwide Bond Index	Pair Corr
0.77	IIXCX	Catalyst Insider Income	Pair Corr
0.91	TIQIX	Touchstone Sustainability	Pair Corr
0.92	FJAPX	Fidelity Freedom Blend	Pair Corr
0.87	SCSCX	Sentinel Mon Stock	Pair Corr
0.89	PPNAX	Putnam Amt Free	Pair Corr
0.69	BMSFX	Mfs Blended Research	Pair Corr
0.95	QNTIX	Quantex Fund Institu	Pair Corr
0.91	SGRHX	Wells Fargo Growth	Pair Corr
0.93	GMMRX	Nationwide Investor	Pair Corr
0.88	GCSAX	Goldman Sachs Small	Pair Corr
0.89	SSGHX	State Street Global	Pair Corr
0.74	NWALX	Nationwide Bny Mellon	Pair Corr
0.85	HIPAX	The Hartford Inflation	Pair Corr

Related Correlations Analysis

	NESIX	FELCX	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL
NESIX		0.92	0.68	0.79	0.58	0.82	0.0	0.27	0.91	0.56	NESIX
FELCX	0.92		0.83	0.85	0.69	0.92	0.0	0.45	0.93	0.68	FELCX
LBHIX	0.68	0.83		0.86	0.82	0.95	0.0	0.77	0.81	0.88	LBHIX
MSTSX	0.79	0.85	0.86		0.72	0.93	0.0	0.58	0.82	0.82	MSTSX
VIASP	0.58	0.69	0.82	0.72		0.81	0.0	0.57	0.7	0.84	VIASP
RRTLX	0.82	0.92	0.95	0.93	0.81		0.0	0.68	0.87	0.87	RRTLX
OSHDF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OSHDF
70082LAB3	0.27	0.45	0.77	0.58	0.57	0.68	0.0		0.44	0.72	70082LAB3
SITKF	0.91	0.93	0.81	0.82	0.7	0.87	0.0	0.44		0.68	SITKF
RWAYL	0.56	0.68	0.88	0.82	0.84	0.87	0.0	0.72	0.68		RWAYL
	NESIX	FELCX	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RRTLX	+ 0.95	LBHIX
SITKF	+ 0.93	FELCX
RRTLX	+ 0.93	MSTSX
FELCX	+ 0.92	NESIX
RRTLX	+ 0.92	FELCX
SITKF	+ 0.91	NESIX

High negative correlations

RWAYL	- 0.0	OSHDF
SITKF	- 0.0	OSHDF
70082LAB3	- 0.0	OSHDF
OSHDF	- 0.0	RRTLX
OSHDF	- 0.0	VIASP
OSHDF	- 0.0	MSTSX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NESIX	1.41	0.11	0.11	0.12	1.48	(1.58)	4.42	(2.49)	10.16
FELCX	1.25	0.19	0.10	0.21	1.61	(1.27)	2.83	(2.64)	9.40
LBHIX	0.14	0.02	(0.12)	0.37	0.00	(0.32)	0.24	(0.24)	1.42
MSTSX	0.47	0.06	(0.02)	(0.37)	0.60	(0.49)	1.11	(0.85)	3.97
VIASP	0.32	0.04	(0.04)	0.48	0.36	(0.34)	0.64	(0.72)	2.46
RRTLX	0.20	0.03	(0.06)	0.14	0.05	(0.24)	0.47	(0.31)	1.85
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.34	0.02	(0.02)	(0.16)	3.39	(1.19)	2.47	(2.47)	18.41
SITKF	3.66	0.97	0.26	0.94	2.97	(5.08)	8.70	(4.76)	26.41
RWAYL	0.13	0.02	(0.21)	0.42	0.00	(0.15)	0.28	(0.28)	0.95

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