Target Managed Correlations

Mutual Funds . USA . 
Fund . Target Managed Allocation
UTMAX Fund  USD 11.07  0.03  0.27%   
The current 90-days correlation between Target Managed Allocation and Capital Growth Fund is 0.91 (i.e., Almost no diversification). The correlation of Target Managed 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.

Target Managed Correlation With Market

Good diversification

The correlation between Target Managed Allocation and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target Managed Allocation 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 Target Managed Allocation. 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 Target Mutual Fund

  0.99UICGX Capital GrowthPairCorr
  0.95UIEMX Emerging MarketsPairCorr
  0.97UIHIX High Income FundPairCorr
  0.98UIIFX International FundPairCorr
  0.98UIGIX Growth IncomePairCorr
  0.97UIGRX Growth Fund GrowthPairCorr
  0.7UIINX Income Fund IncomePairCorr
  0.95UIISX Income StockPairCorr
  0.69UIITX Intermediate Term BondPairCorr
  0.9UISBX Short Term BondPairCorr
  0.93UISCX Small Cap StockPairCorr
  0.96UIVAX Value Fund ValuePairCorr
  0.98UIWGX World GrowthPairCorr
  0.71URIBX Intermediate Term BondPairCorr
  0.73URIFX Income Fund IncomePairCorr
  0.97URHIX High Income FundPairCorr
  0.98URNQX Nasdaq 100 IndexPairCorr
  0.9URSBX Short Term BondPairCorr
  0.92URUSX Ultra Short TermPairCorr
  0.98USPRX Sp 500 IndexPairCorr
  0.94UUSIX Ultra Short TermPairCorr
  0.99UGOFX Global Managed VolatilityPairCorr
  0.97UIAGX Aggressive GrowthPairCorr
  0.94PAALX All Asset FundPairCorr
  0.94PATRX Pimco All AssetPairCorr
  0.94PAAIX All Asset FundPairCorr
  0.94PALPX Pimco All AssetPairCorr
  0.97PASAX All Asset FundPairCorr
  0.94PASCX All Asset FundPairCorr
  0.94PAANX Pimco All AssetPairCorr
  0.91PAUPX Pimco All AssetPairCorr
  0.91PAUIX Pimco All AssetPairCorr
  0.94SMPIX Semiconductor UltrasectorPairCorr
  0.93SMPSX Semiconductor UltrasectorPairCorr
  0.75EMO Clearbridge Energy MlpPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Target Mutual Fund performing well and Target Managed 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 Target Managed'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
UICGX  0.53  0.21  0.03 (1.74) 0.35 
(0.59)
 1.51 
(1.12)
 3.34 
UIEMX  0.50  0.21  0.16  0.69  0.00 
(0.58)
 1.55 
(0.83)
 4.28 
UIHIX  0.14  0.07 (0.39)(1.49) 0.00 
(0.22)
 0.30 
(0.15)
 1.18 
UIIFX  0.50  0.14  0.04  0.52  0.33 
(0.52)
 1.24 
(1.16)
 3.04 
UIGIX  0.61  0.22  0.04 (1.55) 0.56 
(0.71)
 1.79 
(1.03)
 4.87 
UIGSX  0.22  0.00 (0.56) 0.00  0.19 
(0.27)
 0.46 
(0.45)
 1.14 
UIGRX  0.81  0.20  0.24  0.38  0.37 
(1.06)
 2.49 
(1.03)
 5.60 
UIINX  0.23  0.00 (0.49) 0.17  0.20 
(0.27)
 0.53 
(0.44)
 1.15 
UIISX  0.62  0.03 (0.01) 0.20  0.54 
(0.72)
 1.54 
(0.96)
 4.46 
UIITX  0.25  0.00 (0.45) 0.20  0.22 
(0.28)
 0.44 
(0.44)
 1.21 

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