Select Fund Correlations

ASDEX Fund

USD 136.43 1.74 1.26%

The current 90-days correlation between Select Fund R6 and Select Fund Investor is 1.0 (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

Modest diversification

The correlation between Select Fund R6 and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Fund R6 and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Select Fund R6. 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 median.

Moving together with Select Mutual Fund

0.72	AMDVX	Mid Cap Value	Pair Corr
0.99	AMEIX	Equity Growth	Pair Corr
0.97	AMGIX	Income Growth	Pair Corr
0.67	AMKIX	Emerging Markets	Pair Corr
0.66	TWACX	Short Term Government	Pair Corr
0.99	TWCCX	Ultra Fund C	Pair Corr
0.96	TWCAX	Select Fund A	Pair Corr
1.0	TWCIX	Select Fund Investor	Pair Corr
0.99	TWCGX	Growth Fund Investor	Pair Corr
0.63	TWARX	Short Term Government	Pair Corr
0.64	TWAVX	Short Term Government	Pair Corr
0.96	AMVYX	Mid Cap Value	Pair Corr
0.69	TWBIX	Balanced Fund Investor	Pair Corr
0.95	TWEIX	Equity Income	Pair Corr
0.99	TWGIX	Growth Fund I	Pair Corr
0.99	TWGGX	Global Growth	Pair Corr
0.69	TWIEX	International Growth	Pair Corr
0.97	TWHIX	Heritage Fund Investor	Pair Corr
0.73	TWMIX	Emerging Markets	Pair Corr
0.98	TWRCX	Growth Fund C	Pair Corr
0.69	TWTCX	Intermediate Term Tax	Pair Corr
0.72	TWTIX	Intermediate Term Tax	Pair Corr
0.93	TWSCX	Strategic Allocation:	Pair Corr
0.93	TWSAX	Strategic Allocation:	Pair Corr
0.93	TWSMX	Strategic Allocation:	Pair Corr
1.0	TWSIX	Select Fund I	Pair Corr
0.75	TWUSX	Short Term Government	Pair Corr
0.95	TWVLX	Value Fund Investor	Pair Corr
1.0	TWUIX	Ultra Fund I	Pair Corr
0.69	TWWOX	Intermediate Term Tax	Pair Corr
0.78	NPHIX	High Income Fund	Pair Corr
0.76	ANONX	Small Cap Growth	Pair Corr
0.97	ANOIX	Small Cap Growth	Pair Corr
0.97	ANODX	Small Cap Growth	Pair Corr
0.96	ANTUX	Nt Non Intrinsic	Pair Corr
0.84	ANTMX	Nt International Small	Pair Corr

Moving against Select Mutual Fund

0.59

ANVLX

American Century Non

Pair Corr

Related Correlations Analysis

	TWCIX	PNOYX	HGOYX	PRRAX	HGOSX	HGOAX	MMACX	HHHSX	AMIGX	GAB
TWCIX		0.68	0.87	-0.37	0.89	0.87	0.79	0.69	0.36	0.85	TWCIX
PNOYX	0.68		0.8	-0.17	0.78	0.67	0.78	0.62	0.81	0.83	PNOYX
HGOYX	0.87	0.8		-0.37	1.0	0.9	0.84	0.68	0.56	0.82	HGOYX
PRRAX	-0.37	-0.17	-0.37		-0.39	-0.42	-0.05	-0.14	0.09	-0.38	PRRAX
HGOSX	0.89	0.78	1.0	-0.39		0.91	0.84	0.68	0.51	0.83	HGOSX
HGOAX	0.87	0.67	0.9	-0.42	0.91		0.76	0.73	0.34	0.78	HGOAX
MMACX	0.79	0.78	0.84	-0.05	0.84	0.76		0.76	0.64	0.79	MMACX
HHHSX	0.69	0.62	0.68	-0.14	0.68	0.73	0.76		0.56	0.57	HHHSX
AMIGX	0.36	0.81	0.56	0.09	0.51	0.34	0.64	0.56		0.47	AMIGX
GAB	0.85	0.83	0.82	-0.38	0.83	0.78	0.79	0.57	0.47		GAB
	TWCIX	PNOYX	HGOYX	PRRAX	HGOSX	HGOAX	MMACX	HHHSX	AMIGX	GAB

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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

HGOSX	+ 1.0	HGOYX
HGOAX	+ 0.91	HGOSX
HGOAX	+ 0.9	HGOYX
HGOSX	+ 0.89	TWCIX
HGOYX	+ 0.87	TWCIX
HGOAX	+ 0.87	TWCIX

High negative correlations

HGOAX	- 0.42	PRRAX
HGOSX	- 0.39	PRRAX
GAB	- 0.38	PRRAX
PRRAX	- 0.37	HGOYX
PRRAX	- 0.37	TWCIX
PRRAX	- 0.17	PNOYX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TWCIX	0.92	0.17	0.12	0.42	0.78	(1.07)	2.20	(1.71)	13.56
PNOYX	0.53	(0.01)	(0.04)	0.10	0.55	(0.56)	1.23	(1.17)	3.45
HGOYX	0.91	0.00	0.01	0.11	1.19	(0.91)	2.47	(2.24)	7.36
PRRAX	0.55	0.00	(0.12)	0.18	0.81	(0.53)	1.05	(1.13)	3.52
HGOSX	0.92	0.01	0.01	0.12	1.18	(0.94)	2.48	(2.23)	8.26
HGOAX	0.97	0.11	0.00	(7.39)	1.35	(0.96)	2.48	(2.28)	9.05
MMACX	0.31	0.00	(0.15)	0.11	0.24	(0.35)	0.72	(0.63)	1.62
HHHSX	0.81	0.11	0.01	0.77	0.95	(0.89)	1.76	(1.41)	4.95
AMIGX	0.71	(0.01)	(0.03)	0.10	0.87	(0.78)	1.54	(1.81)	4.89
GAB	0.64	0.06	(0.01)	0.24	0.58	(0.77)	1.55	(1.20)	3.62

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