Schwab Health Correlations

Mutual Funds . USA . 
Fund . Schwab Health Care
SWHFX Fund  USD 26.74  0.17  0.64%   
The current 90-days correlation between Schwab Health Care and Smallcap Growth Fund is 0.18 (i.e., Average diversification). The correlation of Schwab Health 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.

Schwab Health Correlation With Market

Poor diversification

The correlation between Schwab Health Care and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Health Care 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 Schwab Health Care. 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 census.

Moving together with Schwab Mutual Fund

  0.79SWAGX Schwab Aggregate BondPairCorr
  0.61SWASX Schwab Global RealPairCorr
  0.79SWISX Schwab InternationalPairCorr
  0.65SWKRX Schwab Monthly IncomePairCorr
  0.64SWMIX Laudus InternationalPairCorr
  0.62SWLRX Schwab Monthly IncomePairCorr
  0.7SWRSX Schwab Treasury InflationPairCorr

Moving against Schwab Mutual Fund

  0.82SWMCX Schwab Mid CapPairCorr
  0.79SWLGX Schwab Large CapPairCorr
  0.76LGILX Laudus Large CapPairCorr
  0.72SWANX Schwab E EquityPairCorr
  0.53SWMRX Schwab Target 2045PairCorr
  0.5SWHGX Schwab Markettrack GrowthPairCorr
  0.49SWDSX Schwab Dividend EquityPairCorr
  0.38SWIRX Schwab Target 2035PairCorr
  0.36SWERX Schwab Target 2040PairCorr
  0.79SWPPX Schwab Sp 500PairCorr
  0.79SWTSX Schwab Total StockPairCorr
  0.76SWLVX Schwab Large CapPairCorr
  0.74SWLSX Schwab Large CapPairCorr
  0.69SWSSX Schwab Small CapPairCorr
  0.59SWYJX Schwab Target 2055PairCorr
  0.58SWYNX Schwab Target 2060PairCorr
  0.57SWYMX Schwab Target 2050PairCorr
  0.56SWSCX Schwab Small CapPairCorr
  0.55SWNRX Schwab Target 2050PairCorr
  0.55SWQRX Schwab Target 2065PairCorr
  0.55SWPRX Schwab Target 2060PairCorr
  0.54SWORX Schwab Target 2055PairCorr
  0.53SWOBX Schwab BalancedPairCorr
  0.37SWYEX Schwab Target 2030PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Health 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 Schwab Health'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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