Target Managed Correlations

UTMAX Fund

USD 11.66 0.02 0.17%

The current 90-days correlation between Target Managed Allocation and Capital Growth Fund is 0.81 (i.e., Very poor diversification). The correlation of Target Managed 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.

Target Managed Correlation With Market

Poor diversification

The correlation between Target Managed Allocation and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target Managed Allocation 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 Target Managed Allocation. 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 nation.

Moving together with Target Mutual Fund

0.88	UICGX	Capital Growth	Pair Corr
0.91	UIEMX	Emerging Markets	Pair Corr
0.88	UIIFX	International Fund	Pair Corr
0.89	UIGIX	Growth Income	Pair Corr
0.74	UIGRX	Growth Fund Growth	Pair Corr
0.81	UIISX	Income Stock	Pair Corr
0.68	UISCX	Small Cap Stock	Pair Corr
0.77	UIVAX	Value Fund Value	Pair Corr
0.86	UIWGX	World Growth	Pair Corr
0.86	URNQX	Nasdaq 100 Index	Pair Corr
0.91	USPRX	Sp 500 Index	Pair Corr
0.72	UGOFX	Global Managed Volatility	Pair Corr
0.79	UIAGX	Aggressive Growth	Pair Corr

Moving against Target Mutual Fund

0.36	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.36	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.35	SAMCX	Salient Mlp Fund	Pair Corr

Related Correlations Analysis

	UICGX	UIEMX	UIHIX	UIIFX	UIGIX	UIGSX	UIGRX	UIINX	UIISX	UIITX
UICGX		0.92	0.09	0.99	0.99	-0.08	0.92	0.37	0.94	0.12	UICGX
UIEMX	0.92		0.14	0.92	0.9	0.0	0.86	0.43	0.79	0.19	UIEMX
UIHIX	0.09	0.14		0.05	0.18	0.6	-0.16	0.33	0.19	0.49	UIHIX
UIIFX	0.99	0.92	0.05		0.97	-0.12	0.92	0.39	0.93	0.09	UIIFX
UIGIX	0.99	0.9	0.18	0.97		-0.01	0.9	0.41	0.95	0.18	UIGIX
UIGSX	-0.08	0.0	0.6	-0.12	-0.01		-0.27	0.64	-0.04	0.94	UIGSX
UIGRX	0.92	0.86	-0.16	0.92	0.9	-0.27		0.32	0.79	-0.01	UIGRX
UIINX	0.37	0.43	0.33	0.39	0.41	0.64	0.32		0.35	0.81	UIINX
UIISX	0.94	0.79	0.19	0.93	0.95	-0.04	0.79	0.35		0.12	UIISX
UIITX	0.12	0.19	0.49	0.09	0.18	0.94	-0.01	0.81	0.12		UIITX
	UICGX	UIEMX	UIHIX	UIIFX	UIGIX	UIGSX	UIGRX	UIINX	UIISX	UIITX

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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

UIIFX	+ 0.99	UICGX
UIGIX	+ 0.99	UICGX
UIGIX	+ 0.97	UIIFX
UIISX	+ 0.95	UIGIX
UIISX	+ 0.94	UICGX
UIITX	+ 0.94	UIGSX

High negative correlations

UIGRX	- 0.27	UIGSX
UIGRX	- 0.16	UIHIX
UIGSX	- 0.12	UIIFX
UIGSX	- 0.08	UICGX
UIISX	- 0.04	UIGSX
UIITX	- 0.01	UIGRX

Risk-Adjusted Indicators

There is a big difference between Target Mutual Fund performing well and Target Managed 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 Target Managed'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
UICGX	0.69	(0.14)	0.00	(0.07)	0.00	0.00	1.01	(1.37)	11.04
UIEMX	0.85	(0.12)	0.00	(0.06)	0.00	0.00	1.49	(1.67)	9.24
UIHIX	0.11	(0.01)	(0.41)	(0.03)	0.08	(0.18)	0.29	(0.29)	0.58
UIIFX	0.75	(0.16)	0.00	(0.09)	0.00	0.00	1.16	(1.45)	11.08
UIGIX	0.63	(0.12)	0.00	(0.05)	0.00	0.00	1.12	(1.25)	8.85
UIGSX	0.14	0.01	(0.34)	0.89	0.00	(0.18)	0.33	(0.22)	0.78
UIGRX	0.93	(0.19)	0.00	(0.10)	0.00	0.00	1.59	(2.00)	12.99
UIINX	0.15	(0.01)	(0.34)	(0.22)	0.17	(0.18)	0.26	(0.34)	0.94
UIISX	0.63	(0.13)	0.00	(0.07)	0.00	0.00	1.02	(1.09)	9.26
UIITX	0.14	0.01	(0.29)	0.23	0.10	(0.18)	0.32	(0.32)	0.97

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