Needham Aggressive Correlations

NEAIX Fund

USD 61.77 0.06 0.1%

The current 90-days correlation between Needham Aggressive Growth and T Rowe Price is -0.04 (i.e., Good diversification). The correlation of Needham Aggressive 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.

Needham Aggressive Correlation With Market

Poor diversification

The correlation between Needham Aggressive Growth and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Needham Aggressive Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Needham Aggressive Growth. 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 gross domestic product.

Moving together with Needham Mutual Fund

1.0	NEAGX	Needham Aggressive Growth	Pair Corr
0.74	NEEGX	Needham Growth	Pair Corr
0.7	NEEIX	Needham Growth	Pair Corr
0.92	NESGX	Needham Small Cap	Pair Corr
0.92	NESIX	Needham Small Cap	Pair Corr
0.65	VSGAX	Vanguard Small Cap	Pair Corr
0.65	VSGIX	Vanguard Small Cap	Pair Corr
0.89	VISGX	Vanguard Small Cap	Pair Corr
0.66	JGMIX	Janus Triton	Pair Corr
0.66	JGMRX	Janus Triton	Pair Corr
0.63	JGMAX	Janus Triton	Pair Corr
0.65	JGMCX	Janus Triton	Pair Corr
0.67	JGMNX	Janus Triton	Pair Corr
0.85	MDAIX	Mainstay Moderate Etf	Pair Corr
0.76	SMIDX	Smi Dynamic Allocation	Pair Corr
0.75	VIGAX	Vanguard Growth Index	Pair Corr
0.63	FNIPX	Fidelity Freedom Index	Pair Corr
0.81	VINIX	Vanguard Institutional	Pair Corr
0.72	FYMMX	Fidelity Advisor Sus	Pair Corr
0.68	OAYLX	Oakmark Select	Pair Corr

Related Correlations Analysis

	TBLWX	TBLGX	GASFX	PABFX	USAGX	PEXMX	TIQIX	ARSIX	MPIEX	RPGEX
TBLWX		1.0	0.24	0.68	0.07	0.63	0.58	0.47	0.63	0.42	TBLWX
TBLGX	1.0		0.23	0.7	0.05	0.63	0.57	0.49	0.62	0.44	TBLGX
GASFX	0.24	0.23		-0.15	0.82	-0.02	-0.16	-0.28	0.54	-0.54	GASFX
PABFX	0.68	0.7	-0.15		-0.34	0.4	0.3	0.56	0.51	0.57	PABFX
USAGX	0.07	0.05	0.82	-0.34		-0.12	-0.19	-0.38	0.45	-0.64	USAGX
PEXMX	0.63	0.63	-0.02	0.4	-0.12		0.66	0.71	0.05	0.6	PEXMX
TIQIX	0.58	0.57	-0.16	0.3	-0.19	0.66		0.41	0.09	0.59	TIQIX
ARSIX	0.47	0.49	-0.28	0.56	-0.38	0.71	0.41		0.03	0.84	ARSIX
MPIEX	0.63	0.62	0.54	0.51	0.45	0.05	0.09	0.03		-0.1	MPIEX
RPGEX	0.42	0.44	-0.54	0.57	-0.64	0.6	0.59	0.84	-0.1		RPGEX
	TBLWX	TBLGX	GASFX	PABFX	USAGX	PEXMX	TIQIX	ARSIX	MPIEX	RPGEX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TBLGX	+ 1.0	TBLWX
RPGEX	+ 0.84	ARSIX
USAGX	+ 0.82	GASFX
ARSIX	+ 0.71	PEXMX
PABFX	+ 0.7	TBLGX
PABFX	+ 0.68	TBLWX

High negative correlations

RPGEX	- 0.64	USAGX
RPGEX	- 0.54	GASFX
ARSIX	- 0.38	USAGX
USAGX	- 0.34	PABFX
ARSIX	- 0.28	GASFX
TIQIX	- 0.19	USAGX

Risk-Adjusted Indicators

There is a big difference between Needham Mutual Fund performing well and Needham Aggressive 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 Needham Aggressive'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
TBLWX	0.39	(0.01)	(0.11)	(0.06)	0.64	(0.37)	0.78	(0.87)	3.28
TBLGX	0.40	(0.01)	(0.10)	(0.09)	0.71	(0.36)	0.79	(0.96)	3.45
GASFX	0.70	0.09	0.06	0.27	0.66	(0.83)	0.97	(1.26)	11.98
PABFX	0.49	(0.06)	0.00	4.16	0.00	0.00	0.77	(0.93)	8.13
USAGX	1.76	0.31	0.09	2.77	2.40	(1.83)	4.32	(4.20)	12.57
PEXMX	0.94	(0.04)	0.00	(0.50)	0.00	0.00	1.69	(2.06)	6.90
TIQIX	0.68	0.02	(0.05)	(1.24)	1.04	(0.64)	1.19	(1.39)	4.81
ARSIX	0.78	(0.12)	0.00	81.77	0.00	0.00	1.51	(1.43)	12.35
MPIEX	0.61	0.02	(0.04)	0.28	1.19	(0.61)	1.09	(1.10)	7.94
RPGEX	0.85	(0.12)	0.00	(0.89)	0.00	0.00	1.24	(1.81)	12.53

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