Needham Growth Correlations

Mutual Funds . USA . 
Fund . Needham Growth Fund
NEEGX Fund  USD 59.75  0.15  0.25%   
The current 90-days correlation between Needham Growth and Needham Aggressive Growth is 0.9 (i.e., Almost no diversification). The correlation of Needham 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.

Needham Growth Correlation With Market

Poor diversification

The correlation between Needham Growth Fund and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Needham Growth Fund 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 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 price.

Moving together with Needham Mutual Fund

  0.97NEAIX Needham Aggressive GrowthPairCorr
  0.97NEAGX Needham Aggressive GrowthPairCorr
  1.0NEEIX Needham GrowthPairCorr
  0.99NESGX Needham Small CapPairCorr
  0.99NESIX Needham Small CapPairCorr
  0.96PAMCX T Rowe PricePairCorr
  0.96RRMGX T Rowe PricePairCorr
  0.96TRQZX T Rowe PricePairCorr
  0.96RPMGX T Rowe PricePairCorr
  0.96PRJIX T Rowe PricePairCorr
  0.96PRNHX T Rowe PricePairCorr
  0.96TRUZX T Rowe PricePairCorr
  0.93PCBIX Midcap Fund InstitutionalPairCorr
  0.93PEMGX Midcap Fund ClassPairCorr
  0.93PMBCX Midcap Fund ClassPairCorr
  0.92FSMMX Fs Multi StrategyPairCorr
  0.9BTMPX Ishares Msci EafePairCorr
  0.9BTMKX Blackrock InternationalPairCorr
  0.9MDIIX Blackrock Intern IndexPairCorr
  0.73SPMPX Invesco Steelpath MlpPairCorr
  0.74MLPNX Oppenheimer Steelpath MlpPairCorr
  0.71MLPMX Oppenheimer Steelpath MlpPairCorr
  0.72SPMJX Invesco Steelpath MlpPairCorr
  0.94AIWEX World EnergyPairCorr
  0.96GITAX Goldman Sachs TechnologyPairCorr
  0.96VWEHX Vanguard High YieldPairCorr
  0.99HCMEX Hcm Income PlusPairCorr
  0.98HRACX Hartford GrowthPairCorr
  0.98FYOKX Oklahoma College SavingsPairCorr
  0.92PHK Pimco High IncomePairCorr
  0.98JSIIX Jpmorgan SmartretirementPairCorr
  0.98GGEYX Guidestone Fds GrowthPairCorr
  0.96TRZAX T Rowe PricePairCorr
  0.65ABNDX Bond FundPairCorr
  0.98SCRYX Small Cap CorePairCorr
  0.98RYMIX TelecommunicationsPairCorr
  0.65GSBPX Goldman Sachs MortgagesPairCorr
  0.98CCHTX American Funds 2045PairCorr
  0.97FRA Blackrock Floating RatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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