World Growth Correlations

USAWX Fund  USD 32.78  0.15  0.46%   
The correlation of World 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.

World Growth Correlation With Market

Poor diversification

The correlation between World 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 World 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 World 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 housing.

Moving together with World Mutual Fund

  0.83UINQX Usaa Nasdaq 100PairCorr
  0.83SRVEX Victory Diversified StockPairCorr
  0.66SSGSX Victory Sycamore SmallPairCorr
  0.9SBALX Victory StrategicPairCorr
  0.89SSVSX Victory Special ValuePairCorr
  0.85SBFCX Victory Incore InvestmentPairCorr
  0.85SBFMX Victory PortfoliosPairCorr
  0.64MMECX Victory IntegrityPairCorr
  0.64MMEAX Victory IntegrityPairCorr
  0.84MMIJX Victory Integrity MidPairCorr
  0.64MMMMX Victory IntegrityPairCorr
  0.74MMMSX Victory IntegrityPairCorr
  0.89MNNAX Victory Munder MultiPairCorr
  0.79RSEGX Victory Rs SmallPairCorr
  0.73RSDGX Victory Rs SelectPairCorr
  0.73RSFYX Victory Floating RatePairCorr
  1.0RSGGX Victory Rs GlobalPairCorr
  0.73RSGFX Victory Rs SelectPairCorr
  0.87RSGRX Victory Rs GrowthPairCorr
  0.79RSFCX Victory Floating RatePairCorr
  0.77RSFMX Victory Floating RatePairCorr
  0.74RSFLX Victory Floating RatePairCorr
  0.79RSIFX Victory Rs Science Steady GrowthPairCorr
  0.75RSINX Victory Rs InvestorsPairCorr
  0.75RSIYX Victory Rs InvestorsPairCorr
  0.67RSMMX Victory Rs SmallPairCorr
  0.72RSMOX Victory Rs MidPairCorr
  0.71RSPFX Victory Rs PartnersPairCorr
  0.88RSNRX Victory Global NaturalPairCorr
  0.89RSNYX Victory Global NaturalPairCorr

Moving against World Mutual Fund

  0.48UITBX Intermediate Term BondPairCorr
  0.47UITCX Usaa Intermediate TermPairCorr
  0.4UINCX Income Fund IncomePairCorr
  0.39UNYBX New York BondPairCorr

Related Correlations Analysis

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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   
UITCXUINCX
SRVEXUINQX
UITCXUITBX
SSVSXSRVEX
UITBXUINCX
SSVSXUINQX
  
High negative correlations   
UITCXSRVEX
UITBXSRVEX
UITCXUINQX
SSVSXUITCX
SSVSXUITBX
UITBXUINQX

Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World 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 World 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
UINCX  0.20 (0.01)(0.37)(0.30) 0.25 
 0.43 
 1.22 
UINQX  0.73  0.13  0.03  10.36  0.92 
 1.57 
 5.14 
SRVEX  0.63  0.11  0.01  2.72  0.92 
 1.54 
 5.12 
UITBX  0.21 (0.01) 0.00  0.23  0.00 
 0.43 
 1.21 
UITCX  0.21 (0.02) 0.00 (0.77) 0.00 
 0.43 
 1.19 
UITIX  0.13  0.01 (0.26) 0.26  0.14 
 0.32 
 1.19 
GUTEX  0.21  0.03 (0.17)(0.19) 0.27 
 0.58 
 1.90 
SSGSX  0.84 (0.03) 0.01  0.08  0.76 
 1.77 
 7.39 
SBALX  0.35  0.03 (0.14) 0.68  0.38 
 0.75 
 2.07 
SSVSX  0.62  0.00  0.00  0.11  0.93 
 1.55 
 5.12