Global Growth Correlations

TWGGX Fund

USD 12.50 0.03 0.24%

The current 90-days correlation between Global Growth and Emerging Markets Fund is 0.59 (i.e., Very weak diversification). The correlation of Global Growth 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.

Global Growth Correlation With Market

Poor diversification

The correlation between Global Growth Fund and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Growth Fund 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 Global Growth Fund. 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 price.

Moving together with Global Mutual Fund

0.73	AMKIX	Emerging Markets	Pair Corr
0.63	TWCAX	Select Fund A	Pair Corr
0.63	TWCIX	Select Fund Investor	Pair Corr
0.64	TWCGX	Growth Fund Investor	Pair Corr
0.79	TWBIX	Balanced Fund Investor	Pair Corr
0.64	TWGIX	Growth Fund I	Pair Corr
0.73	TWMIX	Emerging Markets	Pair Corr
0.65	TWRCX	Growth Fund C	Pair Corr
0.67	TWSCX	Strategic Allocation	Pair Corr
0.65	TWSAX	Strategic Allocation	Pair Corr
0.68	TWSMX	Strategic Allocation	Pair Corr
0.63	TWSIX	Select Fund I	Pair Corr

Related Correlations Analysis

	TWMIX	TWIEX	TWHIX	TWCIX	TWCGX
TWMIX		0.46	0.11	0.33	0.31	TWMIX
TWIEX	0.46		-0.64	-0.47	-0.47	TWIEX
TWHIX	0.11	-0.64		0.93	0.94	TWHIX
TWCIX	0.33	-0.47	0.93		0.99	TWCIX
TWCGX	0.31	-0.47	0.94	0.99		TWCGX
	TWMIX	TWIEX	TWHIX	TWCIX	TWCGX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

TWCGX	+ 0.99	TWCIX
TWCGX	+ 0.94	TWHIX
TWCIX	+ 0.93	TWHIX
TWIEX	+ 0.46	TWMIX
TWCIX	+ 0.33	TWMIX
TWCGX	+ 0.31	TWMIX

High negative correlations

TWHIX	- 0.64	TWIEX
TWCGX	- 0.47	TWIEX
TWCIX	- 0.47	TWIEX

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Growth 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 Global Growth'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
TWMIX	0.75	(0.08)	0.00	(0.05)	0.00	0.00	1.55	(1.83)	4.79
TWIEX	0.73	(0.18)	0.00	(0.15)	0.00	0.00	1.10	(1.56)	4.77
TWHIX	0.77	0.10	0.11	0.21	0.72	(0.91)	1.81	(1.19)	4.54
TWCIX	0.71	(0.03)	(0.03)	0.08	1.07	(0.65)	1.70	(2.20)	5.37
TWCGX	0.72	(0.02)	(0.03)	0.09	1.05	(0.67)	1.65	(2.15)	5.35

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC