Target Retirement Correlations

URFRX Fund

USD 13.85 0.01 0.07%

The current 90-days correlation between Target Retirement 2040 and Fidelity Freedom 2040 is 0.98 (i.e., Almost no diversification). The correlation of Target Retirement 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.

Target Retirement Correlation With Market

Significant diversification

The correlation between Target Retirement 2040 and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target Retirement 2040 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 Target Retirement 2040. 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 Target Mutual Fund

0.81	UINQX	Usaa Nasdaq 100	Pair Corr
0.83	SRVEX	Victory Diversified Stock	Pair Corr
0.62	SSGSX	Victory Sycamore Small	Pair Corr
0.87	SBALX	Victory Strategic	Pair Corr
0.83	SSVSX	Victory Special Value	Pair Corr
0.82	SBFCX	Victory Incore Investment	Pair Corr
0.78	SBFMX	Victory Portfolios	Pair Corr
0.8	MMIJX	Victory Integrity Mid	Pair Corr
0.75	MMMSX	Victory Integrity	Pair Corr
0.83	MNNAX	Victory Munder Multi	Pair Corr
0.81	RSEGX	Victory Rs Small	Pair Corr
0.69	RSDGX	Victory Rs Select	Pair Corr
0.65	RSFYX	Victory Floating Rate	Pair Corr
0.9	RSGGX	Victory Rs Global	Pair Corr
0.69	RSGFX	Victory Rs Select	Pair Corr
0.79	RSGRX	Victory Rs Growth	Pair Corr
0.67	RSFCX	Victory Floating Rate	Pair Corr
0.68	RSFMX	Victory Floating Rate	Pair Corr
0.68	RSFLX	Victory Floating Rate	Pair Corr
0.73	RSIFX	Victory Rs Science	Pair Corr
0.73	RSINX	Victory Rs Investors	Pair Corr
0.73	RSIYX	Victory Rs Investors	Pair Corr
0.62	RSMMX	Victory Rs Small Steady Growth	Pair Corr
0.68	RSMOX	Victory Rs Mid	Pair Corr
0.73	RSPFX	Victory Rs Partners	Pair Corr
0.82	RSNRX	Victory Global Natural	Pair Corr
0.82	RSNYX	Victory Global Natural	Pair Corr

Moving against Target Mutual Fund

0.49	UITCX	Usaa Intermediate Term	Pair Corr
0.45	UITBX	Intermediate Term Bond	Pair Corr
0.38	UINCX	Income Fund Income	Pair Corr

Related Correlations Analysis

	FFFFX	FPIPX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP
FFFFX		0.99	-0.55	0.0	-0.46	0.88	0.61	0.21	-0.09	0.04	FFFFX
FPIPX	0.99		-0.57	0.0	-0.46	0.87	0.66	0.24	-0.15	0.09	FPIPX
444859BR2	-0.55	-0.57		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.46	-0.46	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	BRRAY
MSTSX	0.88	0.87	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	MSTSX
LBHIX	0.61	0.66	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	LBHIX
ABHYX	0.21	0.24	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	ABHYX
SCAXF	-0.09	-0.15	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	SCAXF
VIASP	0.04	0.09	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		VIASP
	FFFFX	FPIPX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP

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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

FPIPX	+ 0.99	FFFFX
MSTSX	+ 0.88	FFFFX
MSTSX	+ 0.87	FPIPX
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.66	FPIPX
LBHIX	+ 0.61	FFFFX

High negative correlations

VIASP	- 0.8	SCAXF
444859BR2	- 0.57	FPIPX
444859BR2	- 0.55	FFFFX
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
BRRAY	- 0.46	FPIPX

Risk-Adjusted Indicators

There is a big difference between Target Mutual Fund performing well and Target Retirement 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 Target Retirement'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
FFFFX	0.49	0.02	(0.15)	2.06	0.62	(0.51)	1.09	(0.98)	2.94
FPIPX	0.45	0.03	(0.15)	(8.69)	0.58	(0.46)	0.98	(0.85)	2.78
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18

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