Schwab Target Correlations

SWYDX Fund

USD 16.14 0.01 0.06%

The current 90-days correlation between Schwab Target 2025 and Prudential Jennison Emerging is 0.65 (i.e., Poor diversification). The correlation of Schwab Target 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.

Schwab Target Correlation With Market

Very poor diversification

The correlation between Schwab Target 2025 and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Target 2025 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 Schwab Target 2025. 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 consumer price index.

Moving together with Schwab Mutual Fund

0.84	LGILX	Laudus Large Cap	Pair Corr
0.99	SWBRX	Schwab Target 2010	Pair Corr
0.7	SWCAX	Schwab California Tax	Pair Corr
0.99	SWCGX	Schwab Markettrack	Pair Corr
0.95	SWANX	Schwab E Equity	Pair Corr
0.99	SWBGX	Schwab Markettrack	Pair Corr
0.98	SWDRX	Schwab Target 2030	Pair Corr
0.71	SWDSX	Schwab Dividend Equity	Pair Corr
0.8	SWEGX	Schwab Markettrack All	Pair Corr
0.99	SWCRX	Schwab Target 2020	Pair Corr
0.96	SWERX	Schwab Target 2040	Pair Corr
0.76	SWISX	Schwab International	Pair Corr
0.99	SWHRX	Schwab Target 2025	Pair Corr
0.73	SWLGX	Schwab Large Cap	Pair Corr
0.78	SWLRX	Schwab Monthly Income	Pair Corr
0.89	SWLSX	Schwab Large Cap	Pair Corr
0.98	SWOBX	Schwab Balanced	Pair Corr
0.71	SWNTX	Schwab Tax Free	Pair Corr
0.79	SWPRX	Schwab Target 2060	Pair Corr
0.8	SWPPX	Schwab Sp 500	Pair Corr
0.66	SWSSX	Schwab Small Cap	Pair Corr
0.74	SWSCX	Schwab Small Cap	Pair Corr
0.77	SWTSX	Schwab Total Stock	Pair Corr
0.7	SFENX	Schwab Fundamental	Pair Corr
1.0	SWYBX	Schwab Target 2015	Pair Corr
0.7	SWYEX	Schwab Target 2030	Pair Corr
0.83	SWYAX	Schwab Target 2010	Pair Corr
0.8	SWYNX	Schwab Target 2060	Pair Corr
0.98	SWYMX	Schwab Target 2050	Pair Corr
0.72	SWYLX	Schwab Target 2020	Pair Corr
0.98	SWYGX	Schwab Target 2040	Pair Corr
0.82	SWYFX	Schwab Target 2035	Pair Corr
0.81	SWYHX	Schwab Target 2045	Pair Corr
0.8	SWYOX	Schwab Target 2065	Pair Corr

Related Correlations Analysis

	PDEZX	SWYHX	SWYLX	GWETX	MIMSX	WMLIX	VMO	FOSCX	FOSBX	PNRAX
PDEZX		0.08	0.16	-0.01	0.58	0.15	-0.13	0.15	0.15	0.18	PDEZX
SWYHX	0.08		0.7	0.68	0.29	0.98	0.53	0.12	0.13	0.75	SWYHX
SWYLX	0.16	0.7		0.47	0.06	0.7	0.59	-0.23	-0.22	0.71	SWYLX
GWETX	-0.01	0.68	0.47		0.38	0.66	0.35	0.17	0.18	0.81	GWETX
MIMSX	0.58	0.29	0.06	0.38		0.3	-0.26	0.68	0.68	0.18	MIMSX
WMLIX	0.15	0.98	0.7	0.66	0.3		0.49	0.11	0.11	0.75	WMLIX
VMO	-0.13	0.53	0.59	0.35	-0.26	0.49		-0.47	-0.47	0.67	VMO
FOSCX	0.15	0.12	-0.23	0.17	0.68	0.11	-0.47		1.0	-0.21	FOSCX
FOSBX	0.15	0.13	-0.22	0.18	0.68	0.11	-0.47	1.0		-0.21	FOSBX
PNRAX	0.18	0.75	0.71	0.81	0.18	0.75	0.67	-0.21	-0.21		PNRAX
	PDEZX	SWYHX	SWYLX	GWETX	MIMSX	WMLIX	VMO	FOSCX	FOSBX	PNRAX

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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

FOSBX	+ 1.0	FOSCX
WMLIX	+ 0.98	SWYHX
PNRAX	+ 0.81	GWETX
PNRAX	+ 0.75	SWYHX
PNRAX	+ 0.75	WMLIX
PNRAX	+ 0.71	SWYLX

High negative correlations

FOSBX	- 0.47	VMO
FOSCX	- 0.47	VMO
VMO	- 0.26	MIMSX
FOSCX	- 0.23	SWYLX
FOSBX	- 0.22	SWYLX
PNRAX	- 0.21	FOSBX

Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Target 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 Schwab Target'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
PDEZX	0.86	(0.07)	(0.05)	(0.01)	1.31	(0.96)	1.56	(2.15)	6.57
SWYHX	0.45	0.05	(0.02)	0.86	0.62	(0.44)	0.96	(0.99)	2.95
SWYLX	0.24	0.03	(0.09)	0.38	0.21	(0.28)	0.55	(0.55)	1.45
GWETX	0.84	0.00	0.02	0.07	0.90	(0.93)	1.89	(1.56)	4.66
MIMSX	0.64	(0.06)	(0.06)	0.01	0.90	(0.64)	1.45	(1.32)	4.24
WMLIX	0.55	0.06	0.00	1.04	0.84	(0.52)	1.20	(1.22)	3.60
VMO	0.39	0.05	(0.03)	0.68	0.31	(0.50)	0.76	(0.62)	2.32
FOSCX	0.80	(0.03)	0.00	0.36	0.00	0.00	2.13	(1.53)	4.97
FOSBX	0.80	(0.03)	0.00	0.36	0.00	0.00	2.13	(1.55)	4.97
PNRAX	0.55	0.03	0.03	0.11	0.76	(0.54)	1.29	(1.13)	3.41

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