World Growth Correlations

USAWX Fund

USD 30.75 0.02 0.07%

The current 90-days correlation between World Growth and International Fund International is 0.71 (i.e., Poor diversification). The correlation of World 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.

World Growth Correlation With Market

Very weak diversification

The correlation between World Growth Fund and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding World Growth Fund 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 World Growth Fund. 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 housing.

Moving together with World Mutual Fund

0.78	UITBX	Intermediate Term Bond	Pair Corr
0.75	GUTEX	Victory Tax Exempt	Pair Corr
0.95	SSGSX	Victory Sycamore Small	Pair Corr
0.91	SBFMX	Victory Portfolios	Pair Corr
0.95	MMECX	Victory Integrity	Pair Corr
0.94	MMEAX	Victory Integrity	Pair Corr
0.94	MMMMX	Victory Integrity	Pair Corr
0.96	MNNAX	Victory Munder Multi	Pair Corr
0.83	RSEGX	Victory Rs Small	Pair Corr
0.72	RSGGX	Victory Rs Global	Pair Corr
0.93	RSIYX	Victory Rs Investors	Pair Corr
0.94	RSPFX	Victory Rs Partners	Pair Corr
0.76	RSNRX	Victory Global Natural	Pair Corr
0.78	RSNYX	Victory Global Natural	Pair Corr
0.9	RSPMX	Victory Rs Partners	Pair Corr
0.93	RSPYX	Victory Rs Partners	Pair Corr
0.93	RSVAX	Victory Rs Value	Pair Corr
0.7	RSTYX	Victory Tax Exempt	Pair Corr
0.83	RSYEX	Victory Rs Small	Pair Corr
0.89	RCOCX	Victory Rs Large	Pair Corr
0.9	MAIMX	Victory Integrity Mid	Pair Corr
0.94	VDSCX	Victory Diversified Stock	Pair Corr
0.94	URFRX	Target Retirement 2040	Pair Corr
0.92	URFFX	Target Retirement 2050	Pair Corr
0.83	URSIX	Target Retirement 2060	Pair Corr
0.95	USAAX	Growth Fund Growth	Pair Corr
0.95	VETAX	Victory Sycamore Est	Pair Corr
0.79	USAUX	Aggressive Growth	Pair Corr
0.72	USATX	Tax Exempt Intermediate	Pair Corr
0.92	USCAX	Small Cap Stock	Pair Corr
0.64	USCBX	California Bond	Pair Corr

Moving against World Mutual Fund

0.51

RSFYX

Victory Floating Rate

Pair Corr

Related Correlations Analysis

	USIFX	USEMX	USSCX	USAUX	USGRX
USIFX		0.83	0.01	0.6	0.75	USIFX
USEMX	0.83		-0.07	0.32	0.45	USEMX
USSCX	0.01	-0.07		0.67	-0.09	USSCX
USAUX	0.6	0.32	0.67		0.59	USAUX
USGRX	0.75	0.45	-0.09	0.59		USGRX
	USIFX	USEMX	USSCX	USAUX	USGRX

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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

USEMX	+ 0.83	USIFX
USGRX	+ 0.75	USIFX
USAUX	+ 0.67	USSCX
USAUX	+ 0.6	USIFX
USGRX	+ 0.59	USAUX
USGRX	+ 0.45	USEMX

High negative correlations

USGRX	- 0.09	USSCX
USSCX	- 0.07	USEMX

Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World 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 World 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
USIFX	0.54	(0.04)	0.00	(0.14)	0.00	0.00	1.14	(1.49)	3.36
USEMX	0.58	(0.05)	0.00	(0.16)	0.00	0.00	1.03	(1.59)	3.11
USSCX	1.15	0.12	0.08	0.18	1.31	(1.23)	2.12	(2.13)	7.06
USAUX	0.97	0.03	0.02	0.09	1.27	(1.07)	1.90	(2.33)	5.88
USGRX	0.87	(0.23)	0.00	(0.27)	0.00	0.00	1.15	(1.26)	18.23

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