New Germany Correlations

Funds . USA . 
Fund . New Germany Closed
GF Fund  USD 10.77  0.07  0.65%   
The current 90-days correlation between New Germany Closed and Sterling Capital Behavioral is 0.36 (i.e., Weak diversification). The correlation of New Germany 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.

New Germany Correlation With Market

Very weak diversification

The correlation between New Germany Closed and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Germany Closed and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in New Germany Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving against New Fund

  0.77NAC Nuveen CaliforniaPairCorr
  0.73DNP Dnp Select IncomePairCorr
  0.72NAD Nuveen Dividend AdvantagePairCorr
  0.7NEA Nuveen Amt FreePairCorr
  0.7NVG Nuveen Amt FreePairCorr
  0.68PIFZX Prudential Short TermPairCorr
  0.63NZF Nuveen Municipal CreditPairCorr
  0.61ACCSX Access Capital MunityPairCorr
  0.52RGVGX Us Government SecuritiesPairCorr
  0.49VBMPX Vanguard Total BondPairCorr
  0.49MACHX Mutual Of AmericaPairCorr
  0.48SDVSX Sit Dividend GrowthPairCorr
  0.44PDDFX Prudential Day OnePairCorr
  0.44GABUX Gabelli UtilitiesPairCorr
  0.44FSRIX Fidelity Advisor StrPairCorr
  0.43JNBAX Jpmorgan Income BuilderPairCorr
  0.42SRUIX Spectrum Fund InstitPairCorr
  0.42GGSPX Goldman Sachs GrowthPairCorr
  0.4RYUIX Utilities Fund InvestorPairCorr
  0.38FRAMX Fidelity Income ReplPairCorr
  0.37FSRCX Fidelity Advisor StrPairCorr
  0.86GSTIX Goldman Sachs StrategicPairCorr
  0.79USBAX Usaa Ultra ShortPairCorr
  0.76QRPNX Aqr Alternative RiskPairCorr
  0.73TRMZX T Rowe PricePairCorr
  0.71CFRAX Catalyst/princetonPairCorr
  0.69TRSHX Tiaa-cref Short-termPairCorr
  0.66PTIMX Performance TrustPairCorr
  0.6ABTHX Ab High IncomePairCorr
  0.56FSRRX Fidelity Strategic RealPairCorr
  0.55BGVIX Brandes Global EquityPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between New Fund performing well and New Germany 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 New Germany'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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