Target Managed Correlations

Mutual Funds . USA . 
Fund . Target Managed Allocation
UTMAX Fund  USD 11.07  0.07  0.63%   
The current 90-days correlation between Target Managed Allocation and Franklin Natural Resources is 0.75 (i.e., Poor diversification). The correlation of Target Managed 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.

Target Managed Correlation With Market

Very good diversification

The correlation between Target Managed Allocation and DJI is -0.43 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target Managed Allocation 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 Target Managed Allocation. 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 nation.

Moving together with Target Mutual Fund

  0.99UICGX Capital GrowthPairCorr
  0.96UIEMX Emerging MarketsPairCorr
  0.97UIHIX High Income FundPairCorr
  0.99UIIFX International FundPairCorr
  0.97UIGIX Growth IncomePairCorr
  0.94UIGRX Growth Fund GrowthPairCorr
  0.71UIINX Income Fund IncomePairCorr
  0.97UIISX Income StockPairCorr
  0.67UIITX Intermediate Term BondPairCorr
  0.61UIPMX Precious Metals AndPairCorr
  0.86UISBX Short Term BondPairCorr
  0.96UISCX Small Cap StockPairCorr
  0.96UIVAX Value Fund ValuePairCorr
  0.99UIWGX World GrowthPairCorr
  0.68URIBX Intermediate Term BondPairCorr
  0.71URIFX Income Fund IncomePairCorr
  0.97URHIX High Income FundPairCorr
  0.97URNQX Nasdaq 100 IndexPairCorr
  0.87URSBX Short Term BondPairCorr
  0.89URUSX Ultra Short TermPairCorr
  0.94USPRX Sp 500 IndexPairCorr
  0.9UUSIX Ultra Short TermPairCorr
  0.99UGOFX Global Managed VolatilityPairCorr
  0.95UIAGX Aggressive GrowthPairCorr
  0.96PAALX All Asset FundPairCorr
  0.96PATRX Pimco All AssetPairCorr
  0.96PAAIX All Asset FundPairCorr
  0.96PALPX Pimco All AssetPairCorr
  0.98PASAX All Asset FundPairCorr
  0.96PASCX All Asset FundPairCorr
  0.97PAANX Pimco All AssetPairCorr
  0.95PAUPX Pimco All AssetPairCorr
  0.96PAUIX Pimco All AssetPairCorr
  0.66WARRX Wells Fargo AdvantagePairCorr
  0.91SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.91SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.85EMO Clearbridge Energy MlpPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Target Mutual Fund performing well and Target Managed 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 Target Managed'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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