Select Fund Correlations

Mutual Funds . USA . 
Fund . Select Fund Investor
TWCIX Fund  USD 132.26  0.65  0.49%   
The current 90-days correlation between Select Fund Investor and Mid Cap Value is 0.45 (i.e., Very weak 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

Poor diversification

The correlation between Select Fund Investor and DJI is 0.73 (i.e., Poor 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 inflation.

Moving together with Select Mutual Fund

  0.92AMDVX Mid Cap ValuePairCorr
  0.99AMEIX Equity GrowthPairCorr
  0.94AMGIX Income GrowthPairCorr
  0.85CDBCX Diversified BondPairCorr
  0.97AMKIX Emerging MarketsPairCorr
  0.89TWACX Short Term GovernmentPairCorr
  0.93TWADX Value Fund APairCorr
  0.97TWCAX Select Fund APairCorr
  1.0TWCGX Growth Fund InvestorPairCorr
  0.89TWAVX Short Term GovernmentPairCorr
  0.92AMVYX Mid Cap ValuePairCorr
  0.91AMVRX Mid Cap ValuePairCorr
  0.98TWBIX Balanced Fund InvestorPairCorr
  0.94TWEIX Equity IncomePairCorr
  0.99TWCUX Ultra Fund InvestorPairCorr
  1.0TWGIX Growth Fund IPairCorr
  0.97TWGGX Global GrowthPairCorr
  0.86TWHIX Heritage Fund InvestorPairCorr
  0.97TWMIX Emerging MarketsPairCorr
  0.72TWTCX Intermediate Term TaxPairCorr
  0.78TWTIX Intermediate Term TaxPairCorr
  0.97TWSCX Strategic Allocation:PairCorr
  0.98TWSAX Strategic Allocation:PairCorr
  0.98TWSMX Strategic AllocationPairCorr
  1.0TWSIX Select Fund IPairCorr
  0.87TWUSX Short Term GovernmentPairCorr
  0.94TWVLX Value Fund InvestorPairCorr
  0.97TWUAX Ultra Fund APairCorr
  0.99TWUIX Ultra Fund IPairCorr
  0.9TWUOX Short Term GovernmentPairCorr
  0.76TWWOX Intermediate Term TaxPairCorr
  0.87ANORX Small Cap GrowthPairCorr
  0.88ANOIX Small Cap GrowthPairCorr
  0.88ANOHX American Century SmallPairCorr
  0.88ANODX Small Cap GrowthPairCorr
  0.93ANTSX Nt International SmallPairCorr
  0.94ANTMX Nt International SmallPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMDVX  0.63  0.01  0.00  0.13  0.53 
(0.72)
 1.96 
(1.00)
 3.62 
AMEIX  0.53  0.05  0.06  0.18  0.31 
(0.59)
 1.20 
(0.76)
 3.63 
AMGIX  0.53  0.01  0.00  0.13  0.41 
(0.63)
 1.13 
(1.06)
 2.88 
CDBCX  0.24  0.00 (0.27) 0.00  0.02 
(0.33)
 0.55 
(0.33)
 1.22 
AMKIX  0.55  0.09  0.06  0.27  0.40 
(0.61)
 1.39 
(1.07)
 4.25 
TWACX  0.08  0.01 (0.84) 0.38  0.00 
(0.17)
 0.22 
(0.11)
 0.56 
TWADX  0.54  0.13  0.01 (1.33) 0.43 
(0.64)
 1.36 
(0.98)
 3.04 
TWCCX  0.64  0.04  0.03  0.16  0.59 
(0.71)
 1.43 
(1.28)
 4.50 
TWCAX  0.63  0.21  0.05 (0.38) 0.61 
(0.68)
 1.39 
(1.26)
 4.80 
TWCIX  0.63  0.06  0.06  0.19  0.61 
(0.69)
 1.38 
(1.27)
 4.79 

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