Growth Fund Correlations

Mutual Funds . USA . 
Fund . Growth Fund Of
CGFAX Fund  USD 82.95  0.07  0.08%   
The current 90-days correlation between Growth Fund and Needham Aggressive Growth is 0.74 (i.e., Poor diversification). The correlation of Growth 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.

Growth Fund Correlation With Market

Good diversification

The correlation between Growth Fund Of and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Fund Of 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 Growth Fund Of. 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 Growth Mutual Fund

  0.98AMECX Income FundPairCorr
  0.99RNEBX New World FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.7FPPPX American Funds PresePairCorr
  0.98AMEFX Income FundPairCorr
  1.0RNGGX New Economy FundPairCorr
  0.98RNGFX New Economy FundPairCorr
  1.0RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.98RNGEX New Economy FundPairCorr
  1.0RNGCX New Economy FundPairCorr
  0.99FPTPX American Funds ConsePairCorr
  1.0RNNEX New Economy FundPairCorr
  0.99AMPCX Amcap Fund ClassPairCorr
  0.99AMPFX Amcap Fund ClassPairCorr
  0.99RNPBX New PerspectivePairCorr
  0.99RNPAX New PerspectivePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.99RNPCX New PerspectivePairCorr
  0.99RNPFX New PerspectivePairCorr
  0.99AMRMX American MutualPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.96TEPFX American Funds TaxPairCorr
  0.98RNWGX New World FundPairCorr
  0.98RNWBX New World FundPairCorr
  0.98RNWCX New World FundPairCorr
  0.98CDWEX American Funds DevelopingPairCorr
  0.98CDWFX American Funds DevelopingPairCorr
  0.98CDWCX American Funds DevelopingPairCorr
  0.99CDWAX American Funds DevelopingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Growth Mutual Fund performing well and Growth 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 Growth 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.

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