Schwab Target Correlations

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

1.0	AANTX	American Funds 2060	Pair Corr
1.0	CCKTX	American Funds 2060	Pair Corr
1.0	FAWTX	American Funds 2060	Pair Corr
1.0	TRLNX	T Rowe Price	Pair Corr
1.0	FFLEX	Fidelity Freedom Index	Pair Corr
1.0	FDKLX	Fidelity Freedom Index	Pair Corr
1.0	FDKVX	Fidelity Freedom 2060	Pair Corr
1.0	FVTKX	Fidelity Freedom 2060	Pair Corr
1.0	FUIPX	Fidelity Freedom Index	Pair Corr
0.95	PSHAX	Short Term Fund	Pair Corr
0.94	RIVKX	American Funds Inter	Pair Corr
0.95	FISVX	Fidelity Small Cap	Pair Corr
0.97	FDEGX	Fidelity Growth Stra	Pair Corr
0.66	CAT	Caterpillar	Pair Corr
0.63	JPM	JPMorgan Chase	Pair Corr
0.68	IBM	International Business	Pair Corr

Moving against Schwab Mutual Fund

0.36

TRV

The Travelers Companies

Pair Corr

Related Correlations Analysis

	MGSXX	SMAAX	SEGXX	WGSXX	GPVXX	DNCGX
MGSXX		0.51	0.68	0.64	0.6	0.18	MGSXX
SMAAX	0.51		0.71	0.73	0.73	0.81	SMAAX
SEGXX	0.68	0.71		0.93	0.88	0.35	SEGXX
WGSXX	0.64	0.73	0.93		0.94	0.34	WGSXX
GPVXX	0.6	0.73	0.88	0.94		0.34	GPVXX
DNCGX	0.18	0.81	0.35	0.34	0.34		DNCGX
	MGSXX	SMAAX	SEGXX	WGSXX	GPVXX	DNCGX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MGSXX	0.03	0.01	0.00	5.03	0.00	0.00	0.00	0.00	1.01
SMAAX	0.10	0.02	(0.99)	4.68	0.00	(0.15)	0.21	(0.10)	0.61
SEGXX	0.03	0.00	0.00	2.04	0.00	0.00	0.00	0.00	1.01
WGSXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
GPVXX	0.03	0.00	0.00	0.23	0.00	0.00	0.00	0.00	1.01
DNCGX	0.19	0.00	(0.70)	0.23	0.15	(0.23)	0.32	(0.41)	1.05

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