| FYASX Fund | | | USD 31.29 0.05 0.16% |
The current 90-days correlation between Access Flex High and T Rowe Price is 0.63 (i.e., Poor diversification). The correlation of Access Flex 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.
Access Flex Correlation With Market
Almost no diversification
The correlation between Access Flex High and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Access Flex High 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 Access Flex High. 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 main economic indicators.