Deutsche Gold Correlations

Mutual Funds USA . 
Fund . Deutsche Gold Precious
SGDIX Fund  USD 60.67  1.88  3.01%   
The current 90-days correlation between Deutsche Gold Precious and Tiaa Cref Inflation Linked Bond is 0.19 (i.e., Average diversification). The correlation of Deutsche Gold 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.

Deutsche Gold Correlation With Market

Average diversification

The correlation between Deutsche Gold Precious and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Gold Precious and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Deutsche Gold Precious. 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 Deutsche Mutual Fund

  1.0SGDLX Sprott Gold EquityPairCorr
  0.99SGGDX First Eagle GoldPairCorr
  0.99FEGIX First Eagle GoldPairCorr
  0.99FEGOX First Eagle GoldPairCorr
  0.99OPGSX Oppenheimer Gold SpecPairCorr
  0.98OGMCX Oppenheimer Gold SpecialPairCorr
  0.99FSAGX Gold Portfolio GoldPairCorr
  0.99FIJDX Gold Portfolio FidelityPairCorr
  0.83PFN Pimco Income StrategyPairCorr
  0.78PCF Putnam High IncomePairCorr
  0.78RILFX American Funds InflationPairCorr
  0.67VFISX Vanguard Short TermPairCorr
  0.74TFFIX Touchstone FocusedPairCorr
  0.63FNILX Fidelity Zero LargePairCorr
  0.75PCRAX CommodityrealreturnPairCorr
  0.77SWRSX Schwab Treasury InflationPairCorr
  0.75PIFGX Prudential Short TermPairCorr
  0.79CNNRX Columbia Short TermPairCorr
  0.81FUSIX Strategic AdvisersPairCorr
  0.68JHBKX John Hancock FundsPairCorr
  0.66FMKPX Fidelity Freedom IndexPairCorr
  0.78TEPFX American Funds TaxPairCorr
  0.68JRTYX Multi Index 2050PairCorr
  0.78UIIFX International FundPairCorr
  0.73DIEZX Destinations InternationalPairCorr
  0.7DLTRX Delaware Limited TermPairCorr
  0.62FZROX Fidelity Zero TotalPairCorr
  0.68DURPX Us High RelativePairCorr
  0.8NOIAX Natixis Oakmark IntePairCorr
  0.74UIHIX High Income FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Deutsche Mutual Fund performing well and Deutsche Gold 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 Deutsche Gold'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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