Select Fund Correlations

ASDEX Fund  USD 135.36  1.00  0.74%   
The current 90-days correlation between Select Fund R6 and Lord Abbett Short is 0.14 (i.e., Average 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

Very good diversification

The correlation between Select Fund R6 and DJI is -0.22 (i.e., Very good 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

  0.61CDBCX Diversified BondPairCorr
  1.0TWCAX Select Fund APairCorr
  0.81TWTIX Intermediate Term TaxPairCorr
  0.98TWSMX Strategic Allocation:PairCorr
  0.97ANORX 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.