Ridgeworth Innovative Correlations

Mutual Funds . USA . 
Fund . Ridgeworth Innovative Growth
SCATX Fund  USD 64.68  0.12  0.19%   
The current 90-days correlation between Ridgeworth Innovative and Zevenbergen Genea Fund is 0.13 (i.e., Average diversification). The correlation of Ridgeworth Innovative 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.

Ridgeworth Innovative Correlation With Market

Poor diversification

The correlation between Ridgeworth Innovative Growth and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ridgeworth Innovative Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Ridgeworth Innovative 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 estimate.

Moving together with Ridgeworth Mutual Fund

  0.9VMSAX Vanguard Multi SectorPairCorr
  0.88VMSSX Virtus Multi SectorPairCorr
  0.91HYIZX Ridgeworth Seix HighPairCorr
  0.99SAGAX Ridgeworth InnovativePairCorr
  0.91HYPSX Ridgeworth Seix HighPairCorr
  0.92SAMBX Ridgeworth Seix FloatingPairCorr
  0.91SAMHX Ridgeworth Seix HighPairCorr
  0.84SSAGX Virtus Seix GovernmentPairCorr
  0.94SAMVX Ridgeworth Ceredex MidPairCorr
  0.71PXCZX Virtus Tax ExemptPairCorr
  0.95PFSRX Virtus Senior FloatingPairCorr
  0.9SASVX Ridgeworth Ceredex SmallPairCorr
  0.96PXIIX Virtus Rampart EnhancedPairCorr
  0.7SAVAX Virtus Bond FundPairCorr
  0.68SAVCX Virtus Bond FundPairCorr
  0.71SAVYX Virtus Bond FundPairCorr
  0.94PXQSX Virtus Kar SmallPairCorr
  0.98SSTFX Virtus Kar CapitalPairCorr
  0.89PXSGX Virtus Kar SmallPairCorr
  0.93PGHCX Virtus High YieldPairCorr
  0.94PGICX Virtus Rampart EnhancedPairCorr
  0.82PGIUX Virtus Global InfrasPairCorr
  0.85HIBIX Virtus Low DurationPairCorr
  0.97STCZX Ridgeworth Silvant LargePairCorr
  0.97STCAX Ridgeworth Silvant LargePairCorr
  0.96STCIX Ridgeworth Silvant LargePairCorr
  0.9STCEX Ridgeworth Ceredex SmallPairCorr
  0.97HIEMX Virtus Emerging MarketsPairCorr
  0.77PGUAX Virtus Global InfrasPairCorr
  0.8PGUCX Virtus Global InfrasPairCorr
  0.96STITX Ridgeworth InternationalPairCorr
  0.85HIMZX Virtus Low DurationPairCorr
  0.94PHCHX Virtus High YieldPairCorr
  0.93PHCIX Virtus High YieldPairCorr
  0.81STTBX Ridgeworth Seix InvePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Ridgeworth Mutual Fund performing well and Ridgeworth Innovative 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 Ridgeworth Innovative'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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