Deutsche Gold Correlations

Mutual Funds . USA . 
Fund . Deutsche Gold Precious
SGDIX Fund  USD 121.15  3.72  3.17%   
The current 90-days correlation between Deutsche Gold Precious and Ms Global Fixed is -0.23 (i.e., Very good diversification). The correlation of Deutsche Gold 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.

Deutsche Gold Correlation With Market

Modest diversification

The correlation between Deutsche Gold Precious and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Gold Precious and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Deutsche Gold Precious. 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 Deutsche Mutual Fund

  1.0SGDLX Sprott Gold Equity Steady GrowthPairCorr
  0.98FEGOX First Eagle Gold Steady GrowthPairCorr
  0.98SGGDX First Eagle Gold Steady GrowthPairCorr
  0.98FEGIX First Eagle Gold Steady GrowthPairCorr
  0.98OGMCX Oppenheimer Gold Special Steady GrowthPairCorr
  0.98OPGSX Oppenheimer Gold Spec Steady GrowthPairCorr
  0.97FSAGX Gold Portfolio Gold Steady GrowthPairCorr
  0.97FIJDX Gold Portfolio Fidelity Steady GrowthPairCorr
  0.96PMPIX Precious Metals Ultr Steady GrowthPairCorr
  0.96PMPSX Precious Metals Ultr Steady GrowthPairCorr
  0.99FGPMX Franklin Gold And Steady GrowthPairCorr
  0.99FRGOX Franklin Gold Precious Steady GrowthPairCorr
  0.98MIDSX Midas Fund MidasPairCorr
  0.63WSHNX Short Duration IncomePairCorr
  0.62STYIX Wells Fargo ShortPairCorr
  0.66SSHVX Sound Shore FundPairCorr
  0.72FAOTX American Funds 2020PairCorr
  0.69GSOIX Goldman Sachs GovernmentPairCorr
  0.7PGFMX Putnam Global FinancialsPairCorr
  0.79HRLAX Hartford GlobalPairCorr
  0.66VBLAX Vanguard Long TermPairCorr
  0.64JLGSX Lifestyle Ii GrowthPairCorr
  0.65TXRIX Jpmorgan Tax AwarePairCorr
  0.64PLWIX Principal Lifetime 2020PairCorr
  0.72PIALX Pioneer SolutionsPairCorr
  0.76FICWX American Funds RetirementPairCorr
  0.64CCIZX Columbia SeligmanPairCorr
  0.69MWERX Metwest Esg SecuritizedPairCorr
  0.67REEAX Rbc Emerging MarketsPairCorr
  0.71UITCX Usaa Intermediate TermPairCorr
  0.61NEHCX Loomis Sayles HighPairCorr
  0.71VFIDX Vanguard IntermediatePairCorr
  0.7DITEX Dreyfus IntermediatePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Deutsche Mutual Fund performing well and Deutsche Gold 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 Deutsche Gold'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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