Select Equity Correlations

Mutual Funds . USA . 
Fund . Select Equity Fund
RTDSX Fund  USD 16.44  0.01  0.06%   
The current 90-days correlation between Select Equity and Morgan Stanley Institutional is -0.03 (i.e., Good diversification). The correlation of Select 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.

Select Equity Correlation With Market

Poor diversification

The correlation between Select Equity Fund and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Equity 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 Select Equity 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 state.

Moving together with Select Mutual Fund

  0.81RNTTX International DevelopedPairCorr
  0.61RREAX Global Real EstatePairCorr
  0.62RREYX Global Real EstatePairCorr
  0.77RRESX Global Real EstatePairCorr
  0.75RRSCX Global Real EstatePairCorr
  0.77RRSRX Global Real EstatePairCorr
  0.87RALCX Growth StrategyPairCorr
  0.87RALSX Growth StrategyPairCorr
  1.0RALRX Growth StrategyPairCorr
  1.0RALVX Growth StrategyPairCorr
  0.79RSBYX Short Duration BondPairCorr
  0.88RSEAX Us Strategic EquityPairCorr
  0.85RSDTX Short Duration BondPairCorr
  0.99RAZAX Multi Asset GrowthPairCorr
  0.98RSQAX Us E EquityPairCorr
  0.99RBLCX Balanced StrategyPairCorr
  0.87RBLAX Balanced StrategyPairCorr
  0.87RBLSX Balanced StrategyPairCorr
  0.99RBLVX Balanced StrategyPairCorr
  0.87RBLRX Balanced StrategyPairCorr
  1.0RTDYX Select EquityPairCorr
  0.75RTEAX Tax Exempt BondPairCorr
  0.67RTECX Tax Exempt BondPairCorr
  0.93RTIYX Select InternationalPairCorr
  0.97RTIUX Tax-managed InternationalPairCorr

Moving against Select Mutual Fund

  0.39RTHSX Tax Exempt HighPairCorr
  0.31RTHAX Tax Exempt HighPairCorr

Related Correlations Analysis

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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   
GPVXX
+ 1.0
LGRXX
DNCGX
+ 0.85
SSAGX
LGRXX
+ 0.65
MGSXX
GPVXX
+ 0.65
MGSXX
SMAAX
+ 0.54
SSAGX
DVPXX
+ 0.48
SMAAX
  
High negative correlations   
DVPXX
- 0.11
DNCGX
DVPXX
- 0.05
GPVXX
DVPXX
- 0.05
LGRXX
DVPXX
- 0.05
SSAGX

Risk-Adjusted Indicators

There is a big difference between Select Mutual Fund performing well and Select 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 Select 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.

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