Community Reinvestment Correlations

Mutual Funds . USA . 
Fund . Community Reinvestment Act
CRANX Fund  USD 9.51  0.01  0.11%   
The current 90-days correlation between Community Reinvestment and T Rowe Price is -0.03 (i.e., Good diversification). The correlation of Community Reinvestment 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.

Community Reinvestment Correlation With Market

Significant diversification

The correlation between Community Reinvestment Act and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Community Reinvestment Act 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 Community Reinvestment Act. 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 board of governors.

Moving together with Community Mutual Fund

  0.95VBTLX Vanguard Total BondPairCorr
  0.79VBMFX Vanguard Total BondPairCorr
  0.91VBTIX Vanguard Total BondPairCorr
  0.79VTBSX Vanguard Total BondPairCorr
  0.76VTBIX Vanguard Total BondPairCorr
  0.91VTBNX Vanguard Total BondPairCorr
  0.76FBOFX American FundsPairCorr
  0.76FFBOX American FundsPairCorr
  0.91BFAFX Bond FundPairCorr
  0.87ABNDX Bond FundPairCorr
  0.67CPAYX Columbia Pacific/asiaPairCorr
  0.72CASAX Columbia Pacific/asiaPairCorr
  0.84CCCZX Center St BrookfieldPairCorr
  0.71CASCX Columbia Pacific/asiaPairCorr
  0.64CCOYX Columbia SeligmanPairCorr
  0.72LMLCX Western Asset SmashPairCorr
  0.79SVARX Spectrum Low VolatilityPairCorr
  0.68LTNYX Opnhmr RchstrPairCorr
  0.73VWTFX Tomorrows Scholar CollegePairCorr
  0.96AVIGX American Century EtfPairCorr
  0.62JMIGX Jacob Micro Cap Steady GrowthPairCorr
  0.63ICEQX Ivy E EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Community Mutual Fund performing well and Community Reinvestment 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 Community Reinvestment'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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