Select Fund Correlations

TWSIX Fund

USD 146.21 0.52 0.35%

The current 90-days correlation between Select Fund I and T Rowe Price is -0.18 (i.e., Good diversification). The correlation of Select Fund 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.

Select Fund Correlation With Market

Good diversification

The correlation between Select Fund I and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Fund I 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 Select Fund I. 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 gross domestic product.

Moving together with Select Mutual Fund

0.92	AMGIX	Income Growth	Pair Corr
0.81	CDBCX	Diversified Bond	Pair Corr
0.92	TWCAX	Select Fund A	Pair Corr
0.73	TWARX	Short Term Government	Pair Corr
0.98	TWBIX	Balanced Fund Investor	Pair Corr
0.9	TWCUX	Ultra Fund Investor	Pair Corr
0.9	TWTIX	Intermediate Term Tax	Pair Corr
0.85	TWSCX	Strategic Allocation	Pair Corr
0.92	TWSMX	Strategic Allocation	Pair Corr
0.9	TWUIX	Ultra Fund I	Pair Corr
0.67	ANTUX	Nt Non Intrinsic	Pair Corr
0.67	ANTMX	Nt International Small	Pair Corr
0.91	AOCIX	One Choice Portfolio	Pair Corr
0.85	AOMIX	One Choice Portfolio	Pair Corr
0.84	AOVIX	One Choice Portfolio	Pair Corr
0.9	BCHYX	California High Yield	Pair Corr
0.92	BCITX	California Intermediate-ter	Pair Corr
0.94	ARDVX	One Choice 2040	Pair Corr
0.85	ARHVX	American Century Inv	Pair Corr
0.86	ARTOX	One Choice In	Pair Corr
0.96	AACZX	American Century One	Pair Corr
0.9	BEQGX	Equity Growth	Pair Corr
0.84	ASIEX	Strategic Income	Pair Corr
0.84	ASTCX	Strategic Allocation:	Pair Corr
0.83	ABHIX	High Yield Fund	Pair Corr
0.92	ABHYX	High Yield Municipal	Pair Corr
0.82	ACDOX	American Century Div	Pair Corr
0.76	ACHFX	American Century High	Pair Corr
0.82	BGNMX	Ginnie Mae Fund	Pair Corr
0.9	AULDX	Ultra Fund R6	Pair Corr
0.81	ADVRX	Diversified Bond	Pair Corr
0.71	AGGWX	Global Gold Fund	Pair Corr

Moving against Select Mutual Fund

0.64

ASVIX

Small Cap Value

Pair Corr

Related Correlations Analysis

	PRIDX	TIDDX	PNOPX	TRRLX	SEMVX	ITHAX	AVUAX
PRIDX		0.81	0.45	0.59	0.52	0.6	0.44	PRIDX
TIDDX	0.81		0.51	0.67	0.54	0.69	0.41	TIDDX
PNOPX	0.45	0.51		0.96	0.97	0.95	-0.23	PNOPX
TRRLX	0.59	0.67	0.96		0.97	0.97	-0.05	TRRLX
SEMVX	0.52	0.54	0.97	0.97		0.92	-0.19	SEMVX
ITHAX	0.6	0.69	0.95	0.97	0.92		-0.04	ITHAX
AVUAX	0.44	0.41	-0.23	-0.05	-0.19	-0.04		AVUAX
	PRIDX	TIDDX	PNOPX	TRRLX	SEMVX	ITHAX	AVUAX

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

SEMVX	+ 0.97	PNOPX
SEMVX	+ 0.97	TRRLX
ITHAX	+ 0.97	TRRLX
TRRLX	+ 0.96	PNOPX
ITHAX	+ 0.95	PNOPX
ITHAX	+ 0.92	SEMVX

High negative correlations

AVUAX	- 0.23	PNOPX
AVUAX	- 0.19	SEMVX
AVUAX	- 0.05	TRRLX
AVUAX	- 0.04	ITHAX

Risk-Adjusted Indicators

There is a big difference between Select Mutual Fund performing well and Select Fund 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 Select Fund'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
PRIDX	0.50	(0.07)	(0.12)	0.01	0.71	(0.50)	0.91	(1.09)	4.16
TIDDX	0.49	0.02	(0.11)	(0.06)	0.70	(0.51)	0.89	(1.08)	4.15
PNOPX	0.50	0.10	(0.01)	(0.57)	0.61	(0.52)	1.16	(0.81)	4.26
TRRLX	0.43	0.09	(0.03)	(0.42)	0.52	(0.46)	0.99	(0.67)	4.13
SEMVX	0.74	0.22	0.10	(3.01)	0.90	(0.83)	1.37	(0.94)	5.41
ITHAX	0.50	0.08	(0.04)	(0.34)	0.64	(0.53)	1.23	(0.83)	4.51
AVUAX	0.53	(0.06)	(0.12)	0.02	0.61	(0.59)	1.27	(1.01)	3.99

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