Select Fund Correlations

Mutual Funds . USA . 
Fund . Select Fund R6
ASDEX Fund  USD 136.31  0.67  0.49%   
The current 90-days correlation between Select Fund R6 and Global Technology Portfolio is 0.93 (i.e., Almost no 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

Poor diversification

The correlation between Select Fund R6 and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Fund R6 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Select Fund R6. 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 income.

Moving together with Select Mutual Fund

  0.93AMDVX Mid Cap ValuePairCorr
  0.97AMGIX Income GrowthPairCorr
  0.97AMKIX Emerging MarketsPairCorr
  0.61TWACX Short Term GovernmentPairCorr
  0.95TWADX Value Fund APairCorr
  1.0TWCCX Ultra Fund CPairCorr
  0.98TWCAX Select Fund APairCorr
  0.98TWCIX Select Fund InvestorPairCorr
  1.0TWCGX Growth Fund InvestorPairCorr
  0.65TWARX Short Term GovernmentPairCorr
  0.7TWAVX Short Term GovernmentPairCorr
  0.93AMVYX Mid Cap ValuePairCorr
  0.93AMVRX Mid Cap ValuePairCorr
  0.99TWBIX Balanced Fund InvestorPairCorr
  0.93AMVGX Mid Cap ValuePairCorr
  0.93TWEAX Equity IncomePairCorr
  0.93TWEIX Equity IncomePairCorr
  1.0TWCUX Ultra Fund InvestorPairCorr
  1.0TWGIX Growth Fund IPairCorr
  0.99TWGGX Global GrowthPairCorr
  0.88TWIEX International GrowthPairCorr
  0.98TWHIX Heritage Fund InvestorPairCorr
  0.97TWMIX Emerging MarketsPairCorr
  1.0TWRCX Growth Fund CPairCorr
  0.62TWTCX Intermediate Term TaxPairCorr
  0.76TWTIX Intermediate Term TaxPairCorr
  0.98TWSCX Strategic AllocationPairCorr
  0.99TWSAX Strategic AllocationPairCorr
  0.98TWSMX Strategic AllocationPairCorr
  0.98TWSIX Select Fund IPairCorr
  0.71TWUSX Short Term GovernmentPairCorr
  0.95TWVLX Value Fund InvestorPairCorr
  0.98TWUAX Ultra Fund APairCorr
  1.0TWUIX Ultra Fund IPairCorr
  0.72TWUOX Short Term GovernmentPairCorr
  0.75TWWOX Intermediate Term TaxPairCorr
  0.96NPHIX High Income FundPairCorr
  0.98ANORX Small Cap GrowthPairCorr
  0.98ANONX Small Cap GrowthPairCorr

Related Correlations Analysis

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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.

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