Needham Growth Correlations

Mutual Funds . USA . 
Fund . Needham Growth
NEEIX Fund  USD 75.70  0.78  1.04%   
The current 90-days correlation between Needham Growth and Nuveen Minnesota Municipal is -0.07 (i.e., Good diversification). The correlation of Needham Growth 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.

Needham Growth Correlation With Market

Very poor diversification

The correlation between Needham Growth and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Needham Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Needham Growth. 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 gross domestic product.

Moving together with Needham Mutual Fund

  0.95NEAIX Needham Aggressive GrowthPairCorr
  0.96NEAGX Needham Aggressive GrowthPairCorr
  0.91NEEGX Needham GrowthPairCorr
  0.9NESGX Needham Small CapPairCorr
  0.81PAMCX T Rowe PricePairCorr
  0.81RRMGX T Rowe PricePairCorr
  0.74PEMGX Midcap Fund Class Potential GrowthPairCorr
  0.74PMBCX Midcap Fund ClassPairCorr
  0.81TRQZX T Rowe PricePairCorr
  0.93PRJIX T Rowe PricePairCorr
  0.82RPMGX T Rowe PricePairCorr
  0.88TRUZX T Rowe PricePairCorr
  0.79JGRCX Janus EnterprisePairCorr
  0.88FSMMX Fs Multi StrategyPairCorr
  0.92BTMPX Ishares Msci EafePairCorr
  0.93BTMKX Blackrock InternationalPairCorr
  0.93MDIIX Blackrock Intern IndexPairCorr
  0.87SPMPX Invesco Steelpath MlpPairCorr
  0.87MLPNX Oppenheimer Steelpath MlpPairCorr
  0.87MLPMX Oppenheimer Steelpath MlpPairCorr
  0.87SPMJX Invesco Steelpath MlpPairCorr
  0.79VGIAX Vanguard Growth AndPairCorr
  0.89CNWAX New World FundPairCorr
  0.83ANOIX Small Cap GrowthPairCorr
  0.89ISKAX Voya Index SolutionPairCorr
  0.7TFILX T Rowe PricePairCorr
  0.87EIVIX Wells Fargo IntrinsicPairCorr
  0.86LZUOX Lazard Strategic EquityPairCorr
  0.8GINDX Gotham Index PlusPairCorr
  0.72EKJAX Wells Fargo PremierPairCorr
  0.9FOSBX Small Pany FundPairCorr
  0.91CSSYX Columbia Select SmallerPairCorr
  0.87TIOPX Tiaa Cref InternationalPairCorr
  0.9GAMDX Goldman Sachs LocalPairCorr
  0.72RHSAX Rational StrategicPairCorr
  0.87VMCCX Virtus Kar MidPairCorr
  0.9IRSNX Voya Target RetirementPairCorr
  0.82CLTCX Catalyst/lyons Tactical Potential GrowthPairCorr
  0.94SFCIX California Limited TermPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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