Select Fund Correlations

The current 90-days correlation between Select Fund R and T Rowe Price is 0.09 (i.e., Significant diversification). The correlation of Select Fund 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.

Select Fund Correlation With Market

Significant diversification

The correlation between Select Fund R and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Fund R and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. 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 persons.

Moving together with Select Mutual Fund

0.67	AMDVX	Mid Cap Value	Pair Corr
0.91	AMEIX	Equity Growth	Pair Corr
0.97	AMGIX	Income Growth	Pair Corr
0.7	AMKIX	Emerging Markets	Pair Corr
0.62	TWACX	Short Term Government	Pair Corr
0.99	TWCCX	Ultra Fund C	Pair Corr
0.9	TWCAX	Select Fund A	Pair Corr
0.9	TWCIX	Select Fund Investor	Pair Corr
1.0	TWCGX	Growth Fund Investor	Pair Corr
0.89	AMVYX	Mid Cap Value	Pair Corr
0.65	TWBIX	Balanced Fund Investor	Pair Corr
0.89	TWEIX	Equity Income	Pair Corr
1.0	TWGIX	Growth Fund I	Pair Corr
0.88	TWGGX	Global Growth	Pair Corr
0.66	TWIEX	International Growth	Pair Corr
0.89	TWHIX	Heritage Fund Investor	Pair Corr
0.83	TWRCX	Growth Fund C	Pair Corr
0.67	TWTCX	Intermediate Term Tax	Pair Corr
0.93	TWSCX	Strategic Allocation:	Pair Corr
0.93	TWSAX	Strategic Allocation:	Pair Corr
0.93	TWSMX	Strategic Allocation:	Pair Corr
1.0	TWSIX	Select Fund I	Pair Corr
0.89	TWVLX	Value Fund Investor	Pair Corr
1.0	TWUIX	Ultra Fund I	Pair Corr
0.71	NPHIX	High Income Fund	Pair Corr
0.64	ANONX	Small Cap Growth	Pair Corr
0.97	ANOIX	Small Cap Growth	Pair Corr
0.87	ANODX	Small Cap Growth	Pair Corr
0.88	ANTUX	Nt Non Intrinsic	Pair Corr
0.73	ANTMX	Nt International Small	Pair Corr

Moving against Select Mutual Fund

0.57	ANVLX	American Century Non	Pair Corr
0.33	ANOHX	American Century Small	Pair Corr

Related Correlations Analysis

	PRIDX	TIDDX	PNOPX	TRRLX	SEMVX	ITHAX	AVUAX
PRIDX		1.0	0.67	0.94	0.75	0.95	0.94	PRIDX
TIDDX	1.0		0.67	0.94	0.75	0.95	0.94	TIDDX
PNOPX	0.67	0.67		0.8	0.7	0.73	0.56	PNOPX
TRRLX	0.94	0.94	0.8		0.84	0.89	0.87	TRRLX
SEMVX	0.75	0.75	0.7	0.84		0.64	0.59	SEMVX
ITHAX	0.95	0.95	0.73	0.89	0.64		0.91	ITHAX
AVUAX	0.94	0.94	0.56	0.87	0.59	0.91		AVUAX
	PRIDX	TIDDX	PNOPX	TRRLX	SEMVX	ITHAX	AVUAX

Risk-Adjusted Indicators

There is a big difference between Select Mutual Fund performing well and Select Fund 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 Select Fund'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
PRIDX	0.58	0.15	0.15	0.42	0.37	(0.67)	1.15	(0.95)	4.07
TIDDX	0.58	0.15	0.15	0.42	0.37	(0.67)	1.16	(0.95)	4.06
PNOPX	0.51	0.02	(0.01)	0.13	0.58	(0.51)	1.16	(1.16)	3.08
TRRLX	0.55	0.09	0.08	0.22	0.49	(0.62)	1.17	(1.05)	3.97
SEMVX	0.71	0.11	0.09	0.29	0.59	(0.81)	1.59	(1.12)	3.95
ITHAX	0.66	0.10	0.11	0.20	0.50	(0.71)	1.35	(1.14)	8.57
AVUAX	0.77	0.26	0.30	0.89	0.00	(0.91)	1.54	(1.01)	14.61

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