Schwab Target Correlations

Mutual Funds . USA . 
Fund . Schwab Target 2060
SWYNX Fund  USD 21.06  0.06  0.29%   
The current 90-days correlation between Schwab Target 2060 and Morgan Stanley Institutional is 0.06 (i.e., Significant 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

Poor diversification

The correlation between Schwab Target 2060 and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Target 2060 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 2060. 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 board of governors.

Moving together with Schwab Mutual Fund

  1.0AANTX American Funds 2060PairCorr
  1.0CCKTX American Funds 2060PairCorr
  1.0FAWTX American Funds 2060PairCorr
  1.0TRLNX T Rowe PricePairCorr
  1.0FFLEX Fidelity Freedom IndexPairCorr
  1.0FDKLX Fidelity Freedom IndexPairCorr
  1.0FDKVX Fidelity Freedom 2060PairCorr
  1.0FVTKX Fidelity Freedom 2060PairCorr
  1.0FUIPX Fidelity Freedom IndexPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  0.99VGTSX Vanguard Total InterPairCorr
  0.99VTIAX Vanguard Total InterPairCorr
  0.95PSHAX Short Term FundPairCorr
  0.94RIVKX American Funds InterPairCorr
  0.95FISVX Fidelity Small CapPairCorr
  0.97FDEGX Fidelity Growth StraPairCorr
  0.66CAT CaterpillarPairCorr
  0.63JPM JPMorgan ChasePairCorr
  0.68IBM International BusinessPairCorr

Moving against Schwab Mutual Fund

  0.36TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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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.

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