Target Managed Correlations

UTMAX Fund

USD 11.01 0.05 0.45%

The current 90-days correlation between Target Managed Allocation and All Asset Fund is 0.45 (i.e., Very weak 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 0.68 (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

0.93	UICGX	Capital Growth	Pair Corr
0.7	UIHIX	High Income Fund	Pair Corr
0.93	UIGIX	Growth Income	Pair Corr
0.9	UIGRX	Growth Fund Growth	Pair Corr
0.87	UIISX	Income Stock	Pair Corr
0.81	UISCX	Small Cap Stock	Pair Corr
0.88	UIVAX	Value Fund Value	Pair Corr
0.93	UIWGX	World Growth	Pair Corr
0.7	URHIX	High Income Fund	Pair Corr
0.93	URNQX	Nasdaq 100 Index	Pair Corr
0.93	USPRX	Sp 500 Index	Pair Corr
0.88	UGOFX	Global Managed Volatility	Pair Corr
0.93	UIAGX	Aggressive Growth	Pair Corr
0.72	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.75	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.73	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr

Moving against Target Mutual Fund

0.66	UIITX	Intermediate Term Bond	Pair Corr
0.65	URIBX	Intermediate Term Bond	Pair Corr
0.64	UIGSX	Government Securities	Pair Corr
0.63	URGSX	Government Securities	Pair Corr
0.59	UIINX	Income Fund Income	Pair Corr
0.59	URIFX	Income Fund Income	Pair Corr
0.38	PAUPX	Pimco All Asset	Pair Corr
0.35	PAUIX	Pimco All Asset	Pair Corr

Related Correlations Analysis

	PAALX	PATRX	PAAIX	PALPX	PASAX	PASCX	PAANX	PAUPX	PAUIX	ABRIX
PAALX		1.0	1.0	1.0	1.0	1.0	1.0	0.91	0.92	0.81	PAALX
PATRX	1.0		1.0	1.0	1.0	1.0	1.0	0.91	0.92	0.8	PATRX
PAAIX	1.0	1.0		1.0	1.0	0.99	1.0	0.9	0.91	0.81	PAAIX
PALPX	1.0	1.0	1.0		1.0	1.0	1.0	0.92	0.93	0.8	PALPX
PASAX	1.0	1.0	1.0	1.0		1.0	1.0	0.92	0.92	0.8	PASAX
PASCX	1.0	1.0	0.99	1.0	1.0		0.99	0.93	0.94	0.79	PASCX
PAANX	1.0	1.0	1.0	1.0	1.0	0.99		0.91	0.92	0.81	PAANX
PAUPX	0.91	0.91	0.9	0.92	0.92	0.93	0.91		1.0	0.62	PAUPX
PAUIX	0.92	0.92	0.91	0.93	0.92	0.94	0.92	1.0		0.64	PAUIX
ABRIX	0.81	0.8	0.81	0.8	0.8	0.79	0.81	0.62	0.64		ABRIX
	PAALX	PATRX	PAAIX	PALPX	PASAX	PASCX	PAANX	PAUPX	PAUIX	ABRIX

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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
PAALX	0.26	(0.03)	(0.34)	(0.01)	0.29	(0.33)	0.54	(0.44)	1.78
PATRX	0.27	(0.03)	(0.32)	(0.02)	0.31	(0.32)	0.63	(0.45)	1.71
PAAIX	0.26	(0.03)	(0.35)	(0.02)	0.29	(0.32)	0.62	(0.44)	1.69
PALPX	0.25	(0.03)	(0.33)	(0.03)	0.30	(0.31)	0.62	(0.44)	1.77
PASAX	0.26	(0.03)	(0.34)	(0.02)	0.30	(0.31)	0.54	(0.44)	1.69
PASCX	0.27	(0.03)	(0.34)	(0.03)	0.32	(0.33)	0.62	(0.44)	1.79
PAANX	0.25	(0.03)	(0.33)	(0.01)	0.29	(0.31)	0.54	(0.44)	1.68
PAUPX	0.27	(0.03)	0.00	(0.14)	0.00	0.00	0.46	(0.59)	1.98
PAUIX	0.27	(0.04)	0.00	(0.16)	0.00	0.00	0.60	(0.46)	1.83
ABRIX	0.45	(0.06)	0.00	(0.08)	0.00	0.00	0.96	(1.08)	2.62

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