Sp 500 Correlations

Mutual Funds USA . 
Fund . Sp 500 Index
USPRX Fund  USD 79.64  0.26  0.33%   
The current 90-days correlation between Sp 500 Index and Bmo Large Cap Growth is 0.07 (i.e., Significant diversification). The correlation of Sp 500 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.

Sp 500 Correlation With Market

Very poor diversification

The correlation between Sp 500 Index and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp 500 Index 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 Sp 500 Index. 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 metropolitan statistical area.

Moving together with USPRX Mutual Fund

  0.98UICGX Capital GrowthPairCorr
  0.99UIEMX Emerging MarketsPairCorr
  0.98UIHIX High Income FundPairCorr
  0.95UIIFX International Fund Potential GrowthPairCorr
  0.98UIGIX Growth IncomePairCorr
  1.0UIGRX Growth Fund GrowthPairCorr
  0.74UIINX Income Fund IncomePairCorr
  0.98UIISX Income StockPairCorr
  0.68UIITX Intermediate Term BondPairCorr
  0.98UISCX Small Cap StockPairCorr
  0.97UIVAX Value Fund ValuePairCorr
  1.0UIWGX World GrowthPairCorr
  0.99URHIX High Income FundPairCorr
  0.98URNQX Nasdaq 100 IndexPairCorr
  0.94URUSX Ultra Short TermPairCorr
  0.95UTMAX Target Managed AllocationPairCorr
  0.98UGOFX Global Managed VolatilityPairCorr
  1.0UIAGX Aggressive GrowthPairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  0.99VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  1.0VIIIX Vanguard InstitutionalPairCorr
  0.61IPSRX Voya Global PerspectivesPairCorr
  0.98BCGPX Blackrock Gwth PreparedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between USPRX Mutual Fund performing well and Sp 500 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 Sp 500'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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