Needham Growth Correlations

NEEIX Fund

USD 80.18 0.28 0.35%

The current 90-days correlation between Needham Growth and Walden Asset Management is -0.05 (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 0.82 (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

0.98	NEAIX	Needham Aggressive Growth	Pair Corr
0.98	NEAGX	Needham Aggressive Growth	Pair Corr
0.98	NEEGX	Needham Growth	Pair Corr
0.96	NESGX	Needham Small Cap	Pair Corr
0.96	NESIX	Needham Small Cap	Pair Corr
0.61	PAMCX	T Rowe Price	Pair Corr
0.62	TRQZX	T Rowe Price	Pair Corr
0.87	PRJIX	T Rowe Price	Pair Corr
0.79	TRUZX	T Rowe Price	Pair Corr
0.67	BIPIX	Biotechnology Ultrasector	Pair Corr
0.79	LIGRX	Loomis Sayles Investment	Pair Corr
0.88	RGGFX	American Funds Global	Pair Corr
0.9	VPMCX	Vanguard Primecap	Pair Corr
0.94	MSTEX	Mainstay Mackay Short	Pair Corr
0.75	GCTAX	Goldman Sachs Tax	Pair Corr
0.95	EPDPX	Europac International	Pair Corr
0.94	TEURX	Franklin Mutual European	Pair Corr
0.71	VDSRX	Victory Diversified Stock	Pair Corr
0.91	DVOAX	Dividend Opportunities	Pair Corr
0.88	VGINX	Jpmorgan Growth And	Pair Corr
0.88	GCSLX	Pioneer Global Equity	Pair Corr
0.78	FGPGX	American Funds Growth	Pair Corr
0.66	SAPYX	Clearbridge Appreciation	Pair Corr
0.77	CIRRX	Cohen Steers Real	Pair Corr
0.94	FSNPX	Fidelity Freedom 2025	Pair Corr

Moving against Needham Mutual Fund

0.52	PCBIX	Midcap Fund Institutional	Pair Corr
0.78	INPIX	Internet Ultrasector	Pair Corr
0.78	INPSX	Internet Ultrasector	Pair Corr

Related Correlations Analysis

	DUNK	NESGX	WELNX	BVAOX	OCMAX	FLRUX	VTN	FTGWX	NCBVX	WSBFX
DUNK		-0.78	-0.82	-0.67	-0.74	-0.79	-0.8	-0.75	-0.85	-0.57	DUNK
NESGX	-0.78		0.91	0.94	0.9	0.89	0.78	0.94	0.92	0.74	NESGX
WELNX	-0.82	0.91		0.85	0.92	0.92	0.72	0.95	0.93	0.77	WELNX
BVAOX	-0.67	0.94	0.85		0.86	0.87	0.69	0.91	0.87	0.8	BVAOX
OCMAX	-0.74	0.9	0.92	0.86		0.93	0.63	0.97	0.91	0.84	OCMAX
FLRUX	-0.79	0.89	0.92	0.87	0.93		0.76	0.91	0.95	0.88	FLRUX
VTN	-0.8	0.78	0.72	0.69	0.63	0.76		0.65	0.83	0.56	VTN
FTGWX	-0.75	0.94	0.95	0.91	0.97	0.91	0.65		0.91	0.81	FTGWX
NCBVX	-0.85	0.92	0.93	0.87	0.91	0.95	0.83	0.91		0.8	NCBVX
WSBFX	-0.57	0.74	0.77	0.8	0.84	0.88	0.56	0.81	0.8		WSBFX
	DUNK	NESGX	WELNX	BVAOX	OCMAX	FLRUX	VTN	FTGWX	NCBVX	WSBFX

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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

FTGWX	+ 0.97	OCMAX
FTGWX	+ 0.95	WELNX
NCBVX	+ 0.95	FLRUX
BVAOX	+ 0.94	NESGX
FTGWX	+ 0.94	NESGX
NCBVX	+ 0.93	WELNX

High negative correlations

NCBVX	- 0.85	DUNK
WELNX	- 0.82	DUNK
VTN	- 0.8	DUNK
FLRUX	- 0.79	DUNK
NESGX	- 0.78	DUNK
FTGWX	- 0.75	DUNK

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DUNK	0.90	(0.25)	0.00	(0.23)	0.00	0.00	1.52	(2.09)	5.13
NESGX	1.23	0.29	0.22	0.28	1.21	(1.48)	3.07	(1.98)	7.79
WELNX	0.62	0.19	0.14	0.70	0.50	(0.69)	1.73	(1.38)	4.18
BVAOX	0.79	0.07	0.09	0.14	0.76	(0.90)	1.86	(1.46)	5.22
OCMAX	1.82	0.68	0.19	1.02	2.57	(2.04)	4.36	(3.93)	15.61
FLRUX	0.22	0.04	(0.04)	0.23	0.00	(0.28)	0.55	(0.37)	2.12
VTN	0.42	0.05	(0.02)	0.33	0.43	(0.47)	1.11	(0.80)	2.68
FTGWX	0.45	0.10	0.07	0.28	0.47	(0.47)	0.96	(0.93)	3.36
NCBVX	0.62	0.21	0.17	(2.62)	0.38	(0.73)	1.59	(0.98)	3.91
WSBFX	0.42	0.14	0.16	0.51	0.00	(0.53)	0.83	(0.52)	8.26

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