Growth Equity Correlations

HCEGX Fund

USD 39.65 0.42 1.07%

The current 90-days correlation between Growth Equity and Vanguard Total Stock is 0.87 (i.e., Very poor diversification). The correlation of Growth Equity 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 Equity Correlation With Market

Poor diversification

The correlation between The Growth Equity 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 The Growth Equity 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 The Growth Equity. 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 price.

Moving together with Growth Mutual Fund

0.99	VTSAX	Vanguard Total Stock	Pair Corr
0.95	VFIAX	Vanguard 500 Index	Pair Corr
0.99	VTSMX	Vanguard Total Stock	Pair Corr
0.99	VITSX	Vanguard Total Stock	Pair Corr
0.99	VSTSX	Vanguard Total Stock	Pair Corr
0.99	VSMPX	Vanguard Total Stock	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.99	VFFSX	Vanguard 500 Index	Pair Corr
0.95	MBCZX	Massmutual Select Blue	Pair Corr
0.91	DTGRX	Dreyfus Technology Growth	Pair Corr
0.95	AFOZX	Alger Funds Mid	Pair Corr
0.92	AULDX	Ultra Fund R6	Pair Corr
0.83	PSDSX	Palmer Square Ultra	Pair Corr
0.91	HGOSX	Hartford Growth	Pair Corr
0.82	PAGRX	Aggressive Growth	Pair Corr
0.92	ETCEX	Eventide Exponential	Pair Corr
0.81	AFRFX	Invesco Floating Rate	Pair Corr
0.82	WUSRX	Wells Fargo Ultra	Pair Corr
0.95	CFSIX	Touchstone Sands Capital	Pair Corr
0.9	PHSKX	Virtus Kar Mid	Pair Corr
0.96	HAGAX	Eagle Mid Cap	Pair Corr
0.89	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	HGOVX	Hartford Growth	Pair Corr
0.81	RFXIX	Rational Special Sit	Pair Corr
0.98	DSHZX	Brinker Capital Dest	Pair Corr
0.9	TPZ	Tortoise Capital Series	Pair Corr
0.64	CVVRX	Columbia Small Cap	Pair Corr
0.94	LMOFX	Miller Opportunity Trust	Pair Corr
0.97	ASG	Liberty All Star	Pair Corr
0.84	SGYAX	Siit High Yield	Pair Corr
0.96	CFNDX	Cargile Fund	Pair Corr
0.95	AFOIX	Alger Mid Cap	Pair Corr
0.97	FRSGX	Franklin Small Mid	Pair Corr
0.98	CADVX	Calamos Dividend Growth	Pair Corr

Moving against Growth Mutual Fund

0.63	NHS	Neuberger Berman High	Pair Corr
0.58	VTIAX	Vanguard Total Inter	Pair Corr
0.55	VGTSX	Vanguard Total Inter	Pair Corr
0.53	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX
VTSAX		0.94	1.0	1.0	1.0	1.0	0.94	1.0	-0.6	-0.62	VTSAX
VFIAX	0.94		0.94	0.94	0.94	0.94	1.0	0.94	-0.62	-0.64	VFIAX
VTSMX	1.0	0.94		1.0	1.0	1.0	0.94	1.0	-0.59	-0.61	VTSMX
VITSX	1.0	0.94	1.0		1.0	1.0	0.94	1.0	-0.59	-0.61	VITSX
VSTSX	1.0	0.94	1.0	1.0		1.0	0.94	1.0	-0.6	-0.61	VSTSX
VSMPX	1.0	0.94	1.0	1.0	1.0		0.94	1.0	-0.6	-0.61	VSMPX
VFINX	0.94	1.0	0.94	0.94	0.94	0.94		0.94	-0.62	-0.64	VFINX
VFFSX	1.0	0.94	1.0	1.0	1.0	1.0	0.94		-0.59	-0.6	VFFSX
VGTSX	-0.6	-0.62	-0.59	-0.59	-0.6	-0.6	-0.62	-0.59		0.99	VGTSX
VTIAX	-0.62	-0.64	-0.61	-0.61	-0.61	-0.61	-0.64	-0.6	0.99		VTIAX
	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VTSMX	+ 1.0	VTSAX
VITSX	+ 1.0	VTSAX
VSTSX	+ 1.0	VTSAX
VSMPX	+ 1.0	VTSAX
VFFSX	+ 1.0	VTSAX
VFINX	+ 1.0	VFIAX

High negative correlations

VTIAX	- 0.64	VFINX
VTIAX	- 0.64	VFIAX
VGTSX	- 0.62	VFINX
VGTSX	- 0.62	VFIAX
VTIAX	- 0.62	VTSAX
VTIAX	- 0.61	VSMPX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VTSAX	0.56	0.05	0.05	0.09	0.75	(0.58)	1.08	(0.95)	5.94
VFIAX	0.51	0.06	0.03	0.88	0.73	(0.50)	0.97	(0.96)	5.48
VTSMX	0.55	0.05	0.05	0.09	0.75	(0.58)	1.08	(0.94)	5.94
VITSX	0.55	0.05	0.05	0.09	0.75	(0.58)	1.08	(0.95)	5.95
VSTSX	0.55	0.05	0.05	0.09	0.75	(0.57)	1.09	(0.95)	5.94
VSMPX	0.55	0.05	0.05	0.09	0.75	(0.57)	1.09	(0.95)	5.94
VFINX	0.51	0.06	0.04	0.86	0.73	(0.50)	0.97	(0.96)	5.48
VFFSX	0.52	0.05	0.05	0.10	0.72	(0.52)	1.09	(0.96)	5.48
VGTSX	0.58	(0.12)	0.00	(0.38)	0.00	0.00	1.13	(1.56)	4.43
VTIAX	0.56	(0.09)	0.00	(0.25)	0.00	0.00	1.14	(1.32)	4.45

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