World Growth Correlations

Mutual Funds . USA . 
Fund . World Growth Fund
UIWGX Fund  USD 32.31  0.18  0.56%   
The current 90-days correlation between World Growth and Mesirow Financial Small is 0.94 (i.e., Almost no diversification). The correlation of World Growth 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.

World Growth Correlation With Market

Good diversification

The correlation between World Growth Fund 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 World Growth Fund 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 World Growth Fund. 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 World Mutual Fund

  1.0UICGX Capital GrowthPairCorr
  0.97UIEMX Emerging MarketsPairCorr
  0.98UIHIX High Income FundPairCorr
  0.95UIIFX International FundPairCorr
  0.99UIGIX Growth IncomePairCorr
  0.96UIGRX Growth Fund GrowthPairCorr
  0.62UIINX Income Fund IncomePairCorr
  0.93UIISX Income StockPairCorr
  0.61UIPMX Precious Metals And Steady GrowthPairCorr
  0.87UISBX Short Term BondPairCorr
  0.94UISCX Small Cap StockPairCorr
  0.93UIVAX Value Fund ValuePairCorr
  0.62URIFX Income Fund IncomePairCorr
  0.98URHIX High Income FundPairCorr
  0.99URNQX Nasdaq 100 IndexPairCorr
  0.85URSBX Short Term BondPairCorr
  0.99USPRX Sp 500 IndexPairCorr
  0.96UTMAX Target Managed AllocationPairCorr
  0.92UUSIX Ultra Short TermPairCorr
  1.0UGOFX Global Managed VolatilityPairCorr
  0.99UIAGX Aggressive GrowthPairCorr
  0.97FCWGX American Funds CapitalPairCorr
  0.97FWCGX American Funds CapitalPairCorr
  1.0CWGIX Capital World GrowthPairCorr
  0.97CWGFX Capital World GrowthPairCorr
  1.0CWGCX Capital World GrowthPairCorr
  0.97RWIFX Capital World GrowthPairCorr
  0.97CWICX Capital World GrowthPairCorr
  0.97RWIAX Capital World GrowthPairCorr
  1.0CWIAX Capital World GrowthPairCorr
  0.97WGIFX Capital World GrowthPairCorr
  0.79FSMMX Fs Multi StrategyPairCorr
  0.97BTMPX Ishares Msci EafePairCorr
  0.97BTMKX Blackrock InternationalPairCorr
  0.97MDIIX Blackrock Intern IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World Growth 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 World Growth'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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