Growth Allocation Correlations

Mutual Funds . USA . 
Fund . Growth Allocation Index
FRGAX Fund  USD 11.17  0.01  0.09%   
The current 90-days correlation between Growth Allocation Index and Oil Gas Ultrasector is 0.26 (i.e., Modest diversification). The correlation of Growth Allocation 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.

Growth Allocation Correlation With Market

Good diversification

The correlation between Growth Allocation Index and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Allocation Index and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Growth Allocation 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 nation.

Moving together with Growth Mutual Fund

  0.64FPTKX Fidelity Freedom 2015PairCorr
  0.94FPURX Fidelity PuritanPairCorr
  0.93FPUKX Fidelity PuritanPairCorr
  0.82FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  0.99FAASX Fidelity Asset ManagerPairCorr
  0.99FAAIX Fidelity Asset ManagerPairCorr
  0.9FABLX Fidelity Advisor BalancedPairCorr
  0.9FABCX Fidelity Advisor BalancedPairCorr
  0.82FACVX Fidelity ConvertiblePairCorr
  0.78FACPX Fidelity Advisor SumerPairCorr
  0.95FACNX Fidelity CanadaPairCorr
  0.83FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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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   
FRNRX
+ 0.86
PEO
FRNRX
+ 0.85
ENPSX
PEO
+ 0.82
ENPSX
ALEFX
+ 0.79
PEO
ALEFX
+ 0.74
ENPSX
FRNRX
+ 0.55
ALEFX
  
High negative correlations   
SNPIX
- 1.0
ENPSX
FRNRX
- 0.87
SNPIX
SNPIX
- 0.83
PEO
ALEFX
- 0.73
SNPIX
ALTEX
- 0.53
ALEFX
ALTEX
- 0.23
ENPSX

Risk-Adjusted Indicators

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