T Rowe Correlations

RBAIX Fund  USD 28.33  0.06  0.21%   
The current 90-days correlation between T Rowe Price and T Rowe Price is -0.18 (i.e., Good diversification). The correlation of T Rowe 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.

T Rowe Correlation With Market

Good diversification

The correlation between T Rowe Price and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding T Rowe Price 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 T Rowe Price. 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 gross domestic product.

Moving together with RBAIX Mutual Fund

  0.99FBONX American Funds AmericanPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  0.88ABALX American BalancedPairCorr
  0.88BALCX American BalancedPairCorr
  0.99BALFX American BalancedPairCorr
  0.88RLBCX American BalancedPairCorr
  0.99RLBBX American BalancedPairCorr
  0.88CLBAX American BalancedPairCorr
  0.99CLBEX American BalancedPairCorr
  0.99RLBFX American BalancedPairCorr
  1.0FTYPX Fidelity Freedom IndexPairCorr
  1.0FFBTX Fidelity Freedom BlendPairCorr
  0.83GAAVX Gmo Alternative AlloPairCorr
  0.8GCAVX Gmo Small CapPairCorr
  0.98GQLOX Gmo Quality FundPairCorr
  0.99GMCQX Gmo Equity AllocationPairCorr
  0.62JPM JPMorgan Chase Sell-off TrendPairCorr
  0.63CAT CaterpillarPairCorr

Moving against RBAIX Mutual Fund

  0.42TRV The Travelers CompaniesPairCorr
  0.34HPQ HP IncPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between RBAIX Mutual Fund performing well and T Rowe 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 T Rowe'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.