Turner Emerging Correlations

Mutual Funds . USA . 
Fund . Turner Emerging Growth
TMCGX Fund  USD 15.20  0.04  0.26%   
The current 90-days correlation between Turner Emerging Growth and James Balanced Golden is 0.88 (i.e., Very poor diversification). The correlation of Turner Emerging 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.

Turner Emerging Correlation With Market

Very poor diversification

The correlation between Turner Emerging Growth and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Turner Emerging 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 Turner Emerging 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 price.

Moving together with Turner Mutual Fund

  0.96TWAAX Thrivent Partner WorPairCorr
  0.74TWAIX Thrivent Partner WorPairCorr
  0.7THLCX Thrivent Large CapPairCorr
  0.85THLIX Thrivent Limited MaturityPairCorr
  0.98THMAX Thrivent ModeratePairCorr
  0.95THYFX Thrivent DiversifiedPairCorr
  0.7AAAGX Thrivent Large CapPairCorr
  0.97AABFX Thrivent Balanced IncomePairCorr
  0.95AAHYX Thrivent DiversifiedPairCorr
  0.98AALGX Thrivent Large CapPairCorr
  0.99AASCX Thrivent Mid CapPairCorr
  0.98AASMX Thrivent Small CapPairCorr
  0.96AAUTX Thrivent Large CapPairCorr
  0.96TLVIX Thrivent Large CapPairCorr
  0.98TMAIX Thrivent ModeratePairCorr
  0.97IBBFX Thrivent Balanced IncomePairCorr
  0.98TMAFX Thrivent ModeratelyPairCorr
  0.98TMAAX Thrivent ModeratelyPairCorr
  0.97TMCVX Thrivent Mid CapPairCorr
  0.61TMSIX Thrivent Mid CapPairCorr
  0.96LBHYX Thrivent High YieldPairCorr
  0.79LBIIX Thrivent IncomePairCorr
  0.7LBHIX Thrivent High YieldPairCorr
  0.87LBLAX Thrivent Limited MaturityPairCorr
  0.99TAAAX Thrivent AggressivePairCorr
  0.99TAAIX Thrivent AggressivePairCorr
  0.99TSCGX Thrivent Small CapPairCorr
  0.98TSCSX Thrivent Small CapPairCorr
  0.79LUBIX Thrivent IncomePairCorr
  0.89IIINX Thrivent OpportunityPairCorr
  0.98IILGX Thrivent Large CapPairCorr
  0.97TCAAX Thrivent ModeratelyPairCorr
  0.97TCAIX Thrivent ModeratelyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Turner Mutual Fund performing well and Turner Emerging 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 Turner Emerging'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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