Asset Allocation Correlations

Mutual Funds . USA . 
Fund . Asset Allocation Fund
VCAAX Fund  USD 12.40  0.05  0.40%   
The current 90-days correlation between Asset Allocation and T Rowe Price is 0.86 (i.e., Very poor diversification). The correlation of Asset Allocation 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.

Asset Allocation Correlation With Market

Very poor diversification

The correlation between Asset Allocation Fund and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asset Allocation 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 Asset Allocation 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 nation.

Moving together with Asset Mutual Fund

  0.88VMIDX Mid Cap IndexPairCorr
  0.95VMSGX Mid Cap StrategicPairCorr
  0.98VSRDX Valic Company IPairCorr
  0.92VSTIX Stock Index FundPairCorr
  0.77VSSVX Small Cap SpecialPairCorr
  0.9VBCVX Broad Cap ValuePairCorr
  0.96VCBCX Blue Chip GrowthPairCorr
  0.97VCGAX Growth IncomePairCorr
  0.87VCIGX Valic Company IPairCorr
  0.88VCNIX Nasdaq 100 IndexPairCorr
  0.94VCSTX Science TechnologyPairCorr
  0.83VCSLX Small Cap IndexPairCorr
  0.95VDAFX Dynamic AllocationPairCorr
  0.95VVMCX Valic Company IPairCorr
  0.84VVSCX Valic Company IPairCorr
  0.76VHYLX Valic Company IPairCorr
  0.96VLCGX Large Capital GrowthPairCorr
  0.88VLSMX Valic Company IPairCorr
  0.91FBONX American Funds AmericanPairCorr
  0.91FBAFX American Funds AmericanPairCorr
  0.96ABALX American BalancedPairCorr
  0.9BALCX American BalancedPairCorr
  0.96BALFX American BalancedPairCorr
  0.96RLBCX American BalancedPairCorr
  0.96RLBBX American BalancedPairCorr
  0.91CLBAX American BalancedPairCorr
  0.96CLBEX American BalancedPairCorr
  0.91RLBFX American BalancedPairCorr

Moving against Asset Mutual Fund

  0.55VCBDX Valic Company IPairCorr
  0.55VCIFX International GovernmentPairCorr
  0.49VCTPX Inflation ProtectedPairCorr
  0.38VCIEX International EquitiesPairCorr
  0.37VIOPX Valic Company IPairCorr
  0.95USPIX Profunds UltrashortPairCorr
  0.93UIPIX Ultrashort Mid CapPairCorr
  0.88USPSX Profunds UltrashortPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Asset Mutual Fund performing well and Asset Allocation 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 Asset Allocation'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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