World Growth Correlations

USAWX Fund

USD 32.26 0.04 0.12%

The current 90-days correlation between World Growth and Commonwealth Australianew Zealand is -0.05 (i.e., Good 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

Poor diversification

The correlation between World Growth Fund and DJI is 0.76 (i.e., Poor 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

0.88	UINQX	Usaa Nasdaq 100	Pair Corr
0.89	SRVEX	Victory Diversified Stock	Pair Corr
0.62	SSGSX	Victory Sycamore Small	Pair Corr
0.96	SBALX	Victory Strategic	Pair Corr
0.89	SSVSX	Victory Special Value	Pair Corr
0.82	SBFCX	Victory Incore Investment	Pair Corr
0.84	MMIJX	Victory Integrity Mid	Pair Corr
0.77	MMMSX	Victory Integrity	Pair Corr
0.88	MNNAX	Victory Munder Multi	Pair Corr
0.73	RSEGX	Victory Rs Small	Pair Corr
0.72	RSDGX	Victory Rs Select	Pair Corr
0.7	RSFYX	Victory Floating Rate	Pair Corr
1.0	RSGGX	Victory Rs Global	Pair Corr
0.71	RSFLX	Victory Floating Rate	Pair Corr
0.78	RSIFX	Victory Rs Science	Pair Corr
0.74	RSINX	Victory Rs Investors	Pair Corr
0.74	RSIYX	Victory Rs Investors	Pair Corr
0.89	RSNRX	Victory Global Natural	Pair Corr
0.89	RSNYX	Victory Global Natural	Pair Corr
0.63	RSPMX	Victory Rs Partners	Pair Corr
0.68	RSPYX	Victory Rs Partners	Pair Corr
0.86	RSVAX	Victory Rs Value	Pair Corr
0.86	RSVYX	Victory Rs Value	Pair Corr
0.78	RSYEX	Victory Rs Small	Pair Corr
0.78	RSYYX	Victory High Yield	Pair Corr
0.67	VSCVX	Victory Integrity Small	Pair Corr
0.67	VSVIX	Victory Integrity Small	Pair Corr
0.8	RCEYX	Victory Rs Large	Pair Corr
0.86	RVACX	Victory Rs Value	Pair Corr
0.89	VDSCX	Victory Diversified Stock	Pair Corr

Moving against World Mutual Fund

0.52	UITCX	Usaa Intermediate Term	Pair Corr
0.48	UITBX	Intermediate Term Bond	Pair Corr
0.4	UINCX	Income Fund Income	Pair Corr
0.45	USAIX	Income Fund Income	Pair Corr

Related Correlations Analysis

	CNZLX	CNJFX	CNREX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF
CNZLX		0.85	0.37	0.51	0.0	-0.21	0.11	-0.1	0.45	0.6	CNZLX
CNJFX	0.85		0.16	0.58	0.0	0.06	-0.06	-0.29	0.28	0.59	CNJFX
CNREX	0.37	0.16		-0.22	0.0	-0.57	0.7	0.59	0.57	-0.02	CNREX
444859BR2	0.51	0.58	-0.22		0.0	0.22	-0.53	-0.54	-0.03	0.41	444859BR2
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.21	0.06	-0.57	0.22	0.0		-0.45	-0.35	-0.4	-0.04	BRRAY
MSTSX	0.11	-0.06	0.7	-0.53	0.0	-0.45		0.67	0.34	-0.02	MSTSX
LBHIX	-0.1	-0.29	0.59	-0.54	0.0	-0.35	0.67		0.51	-0.29	LBHIX
ABHYX	0.45	0.28	0.57	-0.03	0.0	-0.4	0.34	0.51		-0.05	ABHYX
SCAXF	0.6	0.59	-0.02	0.41	0.0	-0.04	-0.02	-0.29	-0.05		SCAXF
	CNZLX	CNJFX	CNREX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF

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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

CNJFX	+ 0.85	CNZLX
MSTSX	+ 0.7	CNREX
LBHIX	+ 0.67	MSTSX
SCAXF	+ 0.6	CNZLX
SCAXF	+ 0.59	CNJFX
LBHIX	+ 0.59	CNREX

High negative correlations

BRRAY	- 0.57	CNREX
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
MSTSX	- 0.45	BRRAY
ABHYX	- 0.4	BRRAY
LBHIX	- 0.35	BRRAY

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
CNZLX	0.61	(0.07)	0.00	(6.27)	0.00	0.00	1.49	(1.41)	4.03
CNJFX	0.90	(0.16)	0.00	(0.17)	0.00	0.00	2.09	(1.83)	7.72
CNREX	0.62	0.01	(0.08)	0.16	0.78	(0.65)	1.22	(1.53)	3.86
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47

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