Blue Chip Correlations

Mutual Funds . USA . 
Fund . Blue Chip Fund
PGBHX Fund  USD 51.03  0.44  0.87%   
The current 90-days correlation between Blue Chip Fund and Fidelity Sai Convertible is 0.3 (i.e., Weak diversification). The correlation of Blue Chip 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.

Blue Chip Correlation With Market

Good diversification

The correlation between Blue Chip Fund and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blue Chip Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Blue Chip Fund. 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 rate.

Moving against Blue Mutual Fund

  0.67XDSMX Dreyfus StrategicPairCorr
  0.67XNBHX Neuberger Berman IntPairCorr
  0.54XNXJX Nuveen New JerseyPairCorr
  0.49MCD McDonaldsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Blue Mutual Fund performing well and Blue Chip 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 Blue Chip'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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