Select Fund Correlations

TWCIX Fund

USD 126.96 1.90 1.52%

The current 90-days correlation between Select Fund Investor and Select Fund R6 is 0.96 (i.e., Almost no 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

Very weak diversification

The correlation between Select Fund Investor and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Fund Investor 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 Select Fund Investor. 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 Select Mutual Fund

0.79	AMEIX	Equity Growth	Pair Corr
0.68	AMGIX	Income Growth	Pair Corr
0.74	AMKIX	Emerging Markets	Pair Corr
0.96	TWCCX	Ultra Fund C	Pair Corr
0.79	TWCAX	Select Fund A	Pair Corr
0.75	TWCGX	Growth Fund Investor	Pair Corr
0.63	TWBIX	Balanced Fund Investor	Pair Corr
0.79	TWCUX	Ultra Fund Investor	Pair Corr
0.71	TWGIX	Growth Fund I	Pair Corr
0.74	TWGGX	Global Growth	Pair Corr
0.63	TWIEX	International Growth	Pair Corr
0.74	TWMIX	Emerging Markets	Pair Corr
0.72	TWRCX	Growth Fund C	Pair Corr
1.0	TWSIX	Select Fund I	Pair Corr
0.62	TWVLX	Value Fund Investor	Pair Corr
0.84	TWUAX	Ultra Fund A	Pair Corr
0.98	TWUIX	Ultra Fund I	Pair Corr
0.77	ANORX	Small Cap Growth	Pair Corr

Related Correlations Analysis

	ASDEX	PNOYX	PRRAX	HGOSX	HGOAX	HGOYX	MMACX	HHHSX	AMIGX	GAB
ASDEX		0.53	0.09	0.81	0.77	0.83	0.46	0.63	0.76	0.07	ASDEX
PNOYX	0.53		-0.11	0.25	0.23	0.3	0.64	0.67	0.83	0.45	PNOYX
PRRAX	0.09	-0.11		0.17	0.18	0.15	0.28	0.15	0.0	-0.04	PRRAX
HGOSX	0.81	0.25	0.17		1.0	1.0	0.29	0.49	0.64	-0.02	HGOSX
HGOAX	0.77	0.23	0.18	1.0		0.99	0.27	0.48	0.62	-0.02	HGOAX
HGOYX	0.83	0.3	0.15	1.0	0.99		0.33	0.52	0.67	0.01	HGOYX
MMACX	0.46	0.64	0.28	0.29	0.27	0.33		0.56	0.57	0.55	MMACX
HHHSX	0.63	0.67	0.15	0.49	0.48	0.52	0.56		0.76	0.1	HHHSX
AMIGX	0.76	0.83	0.0	0.64	0.62	0.67	0.57	0.76		0.23	AMIGX
GAB	0.07	0.45	-0.04	-0.02	-0.02	0.01	0.55	0.1	0.23		GAB
	ASDEX	PNOYX	PRRAX	HGOSX	HGOAX	HGOYX	MMACX	HHHSX	AMIGX	GAB

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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

HGOAX	+ 1.0	HGOSX
HGOYX	+ 1.0	HGOSX
HGOYX	+ 0.99	HGOAX
HGOYX	+ 0.83	ASDEX
AMIGX	+ 0.83	PNOYX
HGOSX	+ 0.81	ASDEX

High negative correlations

PRRAX	- 0.11	PNOYX
GAB	- 0.04	PRRAX
GAB	- 0.02	HGOAX
GAB	- 0.02	HGOSX
AMIGX	- 0.0	PRRAX

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
ASDEX	0.94	(0.23)	0.00	(0.14)	0.00	0.00	1.71	(1.94)	10.98
PNOYX	0.58	(0.03)	(0.04)	0.03	0.83	(0.56)	1.23	(1.19)	3.74
PRRAX	0.58	(0.04)	0.00	(0.03)	0.00	0.00	1.04	(1.12)	3.50
HGOSX	1.02	(0.21)	0.00	(0.21)	0.00	0.00	1.63	(2.35)	9.28
HGOAX	0.99	(0.18)	0.00	(0.18)	0.00	0.00	1.62	(2.33)	9.88
HGOYX	1.00	(0.20)	0.00	(0.18)	0.00	0.00	1.64	(2.34)	8.53
MMACX	0.32	(0.04)	(0.14)	(0.02)	0.44	(0.31)	0.63	(0.64)	1.66
HHHSX	0.78	0.03	(0.02)	0.45	1.03	(0.85)	1.63	(1.39)	5.42
AMIGX	0.76	(0.05)	(0.05)	0.01	1.08	(0.76)	1.35	(1.94)	4.89
GAB	0.65	(0.02)	(0.04)	0.04	0.81	(0.68)	1.55	(1.34)	3.91

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