T Rowe Correlations

RRTNX Fund

USD 17.26 0.08 0.47%

The current 90-days correlation between T Rowe Price and T Rowe Price is -0.15 (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

Very poor diversification

The correlation between T Rowe Price and DJI is 0.85 (i.e., Very poor 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 board of governors.

Moving together with RRTNX Mutual Fund

0.88	VTTVX	Vanguard Target Reti	Pair Corr
0.88	AADTX	American Funds 2025	Pair Corr
0.99	CCDTX	American Funds 2025	Pair Corr
0.88	FAPTX	American Funds 2025	Pair Corr
0.88	FSNPX	Fidelity Freedom 2025	Pair Corr
0.88	FFTWX	Fidelity Freedom 2025	Pair Corr
0.88	FDTKX	Fidelity Freedom 2025	Pair Corr
0.87	TREHX	T Rowe Price	Pair Corr
0.87	PARJX	T Rowe Price	Pair Corr
0.87	PFN	Pimco Income Strategy	Pair Corr
0.81	CIF	Mfs Intermediate High	Pair Corr
0.83	PCF	Putnam High Income	Pair Corr
0.99	CVLOX	Calamos Global Growth	Pair Corr
0.93	MAUKX	Pioneer Multi Asset	Pair Corr
0.61	CVX	Chevron Corp Earnings Call This Week	Pair Corr

Moving against RRTNX Mutual Fund

0.78	XDSMX	Dreyfus Strategic	Pair Corr
0.75	XNBHX	Neuberger Berman Int	Pair Corr
0.61	XNXJX	Nuveen New Jersey	Pair Corr
0.48	XPPRX	Voya Prime Rate	Pair Corr
0.49	TRV	The Travelers Companies	Pair Corr
0.35	WMT	Walmart	Pair Corr
0.33	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	RRTPX	RRTCX	RRTMX	RRTBX	RRTRX
RRTPX		0.87	0.87	1.0	1.0	RRTPX
RRTCX	0.87		1.0	0.87	0.86	RRTCX
RRTMX	0.87	1.0		0.88	0.86	RRTMX
RRTBX	1.0	0.87	0.88		1.0	RRTBX
RRTRX	1.0	0.86	0.86	1.0		RRTRX
	RRTPX	RRTCX	RRTMX	RRTBX	RRTRX

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Risk-Adjusted Indicators

There is a big difference between RRTNX 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RRTPX	0.35	0.15	(0.20)	(1.35)	0.14	(0.42)	0.98	(0.60)	2.99
RRTCX	0.30	0.01	(0.25)	0.26	0.00	(0.35)	0.81	(0.50)	2.51
RRTMX	0.22	0.01	(0.39)	0.26	0.00	(0.28)	0.56	(0.39)	1.82
RRTBX	0.26	0.04	(0.27)	0.34	0.00	(0.35)	0.97	(0.43)	1.99
RRTRX	0.43	0.19	(0.12)	(1.35)	0.23	(0.51)	1.14	(0.83)	3.61

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