Growth Fund Correlations

Mutual Funds . USA . 
Fund . Growth Fund Of
GFAFX Fund  USD 71.43  0.22  0.31%   
The current 90-days correlation between Growth Fund and Europacific Growth Fund is 0.82 (i.e., Very poor diversification). The correlation of Growth 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.

Growth Fund Correlation With Market

Good diversification

The correlation between Growth Fund Of and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Fund Of 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 Growth Fund Of. 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 census.

Moving together with Growth Mutual Fund

  0.69AMECX Income FundPairCorr
  0.71RNEBX New World FundPairCorr
  0.9AMFCX American MutualPairCorr
  0.9AMFFX American MutualPairCorr
  0.81RNCCX American Funds IncomePairCorr
  0.68AMEFX Income FundPairCorr
  1.0RNGGX New Economy FundPairCorr
  0.94RNGFX New Economy FundPairCorr
  0.94RNGHX New Economy FundPairCorr
  0.94RNGBX New Economy FundPairCorr
  0.94RNGAX New Economy FundPairCorr
  0.94RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.67AMHIX American High IncomePairCorr
  0.71TEBCX Tax Exempt BondPairCorr
  0.71TECCX Tax Exempt FundPairCorr
  0.8FPTPX American Funds ConsePairCorr
  0.7TEFEX Tax Exempt FundPairCorr
  0.94RNNEX New Economy FundPairCorr
  0.94AMPFX Amcap Fund ClassPairCorr
  0.91RNPBX New PerspectivePairCorr
  0.91RNPAX New PerspectivePairCorr
  0.91RNPHX New PerspectivePairCorr
  0.91RNPGX New PerspectivePairCorr
  0.91RNPFX New PerspectivePairCorr
  0.91RNPEX New PerspectivePairCorr
  0.9AMRMX American MutualPairCorr
  0.89AMRFX American MutualPairCorr
  0.7RNWFX New World FundPairCorr
  0.7RNWEX New World FundPairCorr
  0.7RNWHX New World FundPairCorr
  0.69RNWGX New World FundPairCorr
  0.71RNWBX New World FundPairCorr
  0.71RNWAX New World FundPairCorr

Moving against Growth Mutual Fund

  0.8FPPPX American Funds PresePairCorr
  0.71AMUSX Us Government SecuritiesPairCorr
  0.72ANBEX American Funds StrategicPairCorr
  0.72ANBAX American Funds StrategicPairCorr
  0.71ANBCX American Funds StrategicPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Growth Mutual Fund performing well and Growth 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 Growth 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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