Select Fund Correlations

Mutual Funds . USA . 
Fund . Select Fund A
TWCAX Fund  USD 120.94  0.68  0.57%   
The current 90-days correlation between Select Fund A and Ultra Fund A is 0.99 (i.e., No risk reduction). The correlation of Select Fund 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 Fund Correlation With Market

Good diversification

The correlation between Select Fund A and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Fund A 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 Select Fund A. 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 nation.

Moving together with Select Mutual Fund

  0.99TWSMX Strategic Allocation:PairCorr
  0.98ASERX Select Fund RPairCorr
  0.98ACSLX Select Fund CPairCorr
  0.98FAFGX American FundsPairCorr
  0.98FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.98CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.88FSMMX Fs Multi StrategyPairCorr
  0.95BTMPX Ishares Msci EafePairCorr
  0.95BTMKX Blackrock InternationalPairCorr
  0.94MDIIX Blackrock Intern IndexPairCorr
  0.68SPMPX Invesco Steelpath MlpPairCorr
  0.69MLPNX Oppenheimer Steelpath MlpPairCorr
  0.67MLPMX Oppenheimer Steelpath MlpPairCorr
  0.7SPMJX Invesco Steelpath MlpPairCorr
  0.96TEQAX Touchstone SustainabilityPairCorr
  0.95SIVIX State Street InstituPairCorr
  0.95IAF Aberdeen AustraliaPairCorr
  0.95BAC Bank of AmericaPairCorr
  0.83PFE Pfizer IncPairCorr
  0.69INTC Intel Earnings Call This WeekPairCorr
  0.89MMM 3M CompanyPairCorr
  0.94JPM JPMorgan ChasePairCorr
  0.96DIS Walt DisneyPairCorr
  0.93BA BoeingPairCorr
  0.94AXP American ExpressPairCorr
  0.92IBM International Business Earnings Call This WeekPairCorr

Moving against Select Mutual Fund

  0.64MCD McDonaldsPairCorr
  0.34VZ Verizon Communications Earnings Call This WeekPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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