World Energy Correlations

Mutual Funds . USA . 
Fund . World Energy Fund
AAWEX Fund  USD 16.34  0.04  0.25%   
The current 90-days correlation between World Energy and World Growth Fund is -0.07 (i.e., Good diversification). The correlation of World Energy 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 Energy Correlation With Market

Good diversification

The correlation between World Energy Fund and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding World Energy Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in World Energy 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 income.

Moving together with World Mutual Fund

  0.99APWEX World EnergyPairCorr
  1.0ACWEX World EnergyPairCorr
  0.72AIENX Strategic Enhanced YieldPairCorr
  1.0AIWEX World EnergyPairCorr
  0.96VGELX Vanguard EnergyPairCorr
  0.95VGENX Vanguard EnergyPairCorr
  0.87VENAX Vanguard Energy IndexPairCorr
  0.92FSENX Fidelity Select PortPairCorr
  0.92FNRCX Fidelity Advisor EnergyPairCorr
  0.95FANAX Fidelity Advisor EnergyPairCorr
  0.95FAGNX Fidelity Advisor EnergyPairCorr
  0.92FANIX Fidelity Advisor EnergyPairCorr
  0.96FNARX Fidelity Natural ResPairCorr
  0.93IENIX Invesco EnergyPairCorr
  0.86PDI Pimco Dynamic IncomePairCorr
  0.95FTCAX Templeton Strained BondPairCorr
  0.93WWICX Westwood Income OppoPairCorr
  0.94TBLPX T Rowe PricePairCorr
  0.9AMIDX Amana Developing WorldPairCorr
  0.95MGSMX Deutsche Short TermPairCorr
  0.96BEMIX Brandes Emerging MarketsPairCorr
  0.93MDIKX Mfs InternationalPairCorr
  0.9JGIAX Jpmorgan IncomePairCorr
  0.95RAIIX Rainier InternationalPairCorr
  0.92PDHCX Prudential EmergingPairCorr
  0.94GSHAX Goldman Sachs HighPairCorr
  0.71HJPIX Hennessy Japan Steady GrowthPairCorr
  0.96ETGLX Eventide GileadPairCorr
  0.95LPWAX Blackrock LifepathPairCorr
  0.95CCOYX Columbia SeligmanPairCorr
  0.96ITYAX Invesco TechnologyPairCorr

Moving against World Mutual Fund

  0.93USPSX Profunds Ultrashort Potential GrowthPairCorr
  0.85TCTGX Transamerica CleartrackPairCorr
  0.84TDKTX Cleartrack 2015 ClassPairCorr
  0.94USPIX Profunds Ultrashort Potential GrowthPairCorr
  0.88UIPIX Ultrashort Mid CapPairCorr
  0.86TCSUX Cleartrack 2020 ClassPairCorr
  0.85TCTJX Transamerica CleartrackPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World Energy 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 Energy'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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