Schwab Target Correlations

SWORX Fund

USD 18.38 0.14 0.77%

The current 90-days correlation between Schwab Target 2055 and Alger Health Sciences is 0.43 (i.e., Very weak diversification). The correlation of Schwab Target 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.

Schwab Target Correlation With Market

Poor diversification

The correlation between Schwab Target 2055 and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Target 2055 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 Schwab Target 2055. 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 metropolitan statistical area.

Moving together with Schwab Mutual Fund

0.89	LGILX	Laudus Large Cap	Pair Corr
0.64	SWBRX	Schwab Target 2010	Pair Corr
0.93	SWANX	Schwab E Equity	Pair Corr
0.93	SWBGX	Schwab Markettrack	Pair Corr
0.96	SWDRX	Schwab Target 2030	Pair Corr
0.89	SWDSX	Schwab Dividend Equity	Pair Corr
1.0	SWEGX	Schwab Markettrack All	Pair Corr
0.79	SWCRX	Schwab Target 2020	Pair Corr
0.73	SWGRX	Schwab Target 2015	Pair Corr
1.0	SWERX	Schwab Target 2040	Pair Corr
0.98	SWIRX	Schwab Target 2035	Pair Corr
0.99	SWHGX	Schwab Markettrack Growth	Pair Corr
0.85	SWHRX	Schwab Target 2025	Pair Corr
0.85	SWMCX	Schwab Mid Cap	Pair Corr
1.0	SWMRX	Schwab Target 2045	Pair Corr
0.89	SWLGX	Schwab Large Cap	Pair Corr
0.91	SWLSX	Schwab Large Cap	Pair Corr
0.88	SWLVX	Schwab Large Cap	Pair Corr
0.97	SWOBX	Schwab Balanced	Pair Corr
1.0	SWNRX	Schwab Target 2050	Pair Corr
0.92	SWQRX	Schwab Target 2065	Pair Corr
1.0	SWPRX	Schwab Target 2060	Pair Corr
0.87	SWPPX	Schwab Sp 500	Pair Corr
0.83	SWSSX	Schwab Small Cap	Pair Corr
0.82	SWSCX	Schwab Small Cap	Pair Corr

Moving against Schwab Mutual Fund

0.48	SWAGX	Schwab Aggregate Bond	Pair Corr
0.54	SWHFX	Schwab Health Care	Pair Corr
0.42	SWSBX	Schwab Short Term	Pair Corr

Related Correlations Analysis

	AHSCX	ETCHX	ETAHX	BGHDX	FHCCX
AHSCX		0.71	0.71	0.37	0.67	AHSCX
ETCHX	0.71		1.0	0.71	0.75	ETCHX
ETAHX	0.71	1.0		0.7	0.74	ETAHX
BGHDX	0.37	0.71	0.7		0.75	BGHDX
FHCCX	0.67	0.75	0.74	0.75		FHCCX
	AHSCX	ETCHX	ETAHX	BGHDX	FHCCX

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Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Target 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 Schwab Target'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
AHSCX	0.57	(0.06)	(0.15)	(0.02)	0.74	(0.57)	0.82	(1.25)	4.55
ETCHX	1.03	(0.15)	0.00	(0.03)	0.00	0.00	2.25	(2.30)	7.56
ETAHX	1.03	(0.15)	0.00	(0.02)	0.00	0.00	2.27	(2.32)	7.54
BGHDX	0.81	(0.07)	0.00	(0.28)	0.00	0.00	1.34	(1.69)	6.08
FHCCX	0.69	(0.10)	0.00	(0.03)	0.00	0.00	1.05	(1.31)	4.04

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