Great West Correlations

Mutual Funds . USA . 
Fund . Great West Moderately Servative
MXDPX Fund  USD 8.14  0.04  0.49%   
The correlation of Great West 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Great West moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Great West Moderately Servative moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Very poor diversification

The correlation between Great West Moderately Servativ and NYA is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Great West Moderately Servativ and NYA in the same portfolio, assuming nothing else is changed.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Great West Moderately Servative. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in american community survey.
  
The ability to find closely correlated positions to Great West could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Great West when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Great West - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Great West Moderately Servative to buy it.

Moving together with Great Mutual Fund

  0.97SFBPX Great West SecurefouPairCorr
  0.98MXAGX Great West LifetimePairCorr
  0.99MXAKX Great West LifetimePairCorr
  0.98MXAHX Great West LifetimePairCorr
  0.99MXBQX Great West LifetimePairCorr
  0.99MXBPX Great West ModeratelyPairCorr
  0.98MXBUX Great West SpPairCorr
  0.99MXBSX Great West LifetimePairCorr
  0.98MXCJX Great West SecurefouPairCorr
  0.99MXATX Great West LifetimePairCorr
  0.99MXAYX Great West LifetimePairCorr
  0.99MXBEX Great West LifetimePairCorr
  0.99MXBDX Great West LifetimePairCorr
  0.99MXBGX Great West LifetimePairCorr
  0.94MXEBX Great West EPairCorr
  0.76MXEGX Great West EPairCorr
  0.82MXEOX Great West EmergingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Great Mutual Fund performing well and Great West 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 Great West'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
VWINX  0.30 (0.01)(0.09) 0.06  0.41 
(0.30)
 0.45 
(0.65)
 2.08 
VWIAX  0.30 (0.01)(0.09) 0.06  0.39 
(0.31)
 0.48 
(0.67)
 2.11 
BKMIX  0.22  0.00 (0.12) 0.07  0.21 
(0.28)
 0.41 
(0.51)
 1.41 
HBLTX  0.30  0.00 (0.07) 0.07  0.38 
(0.31)
 0.49 
(0.69)
 2.07 
HBLRX  0.30  0.00 (0.07) 0.07  0.37 
(0.32)
 0.49 
(0.70)
 2.08 
HBLSX  0.32  0.00 (0.06) 0.07  0.42 
(0.33)
 0.50 
(0.70)
 2.08 
HBLVX  0.32  0.00 (0.06) 0.08  0.45 
(0.32)
 0.49 
(0.69)
 2.13 
HBLYX  0.32  0.00 (0.07) 0.08  0.42 
(0.34)
 0.56 
(0.69)
 2.13 
HBLCX  0.32  0.00 (0.07) 0.07  0.42 
(0.33)
 0.51 
(0.78)
 2.13 
HBLIX  0.32  0.00 (0.06) 0.08  0.42 
(0.34)
 0.57 
(0.77)
 2.09 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Great West without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Already Invested in Great West Moderately Servative?

The danger of trading Great West Moderately Servative is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Great West is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Great West. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Great West Moderately is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Great West Moderately Servative. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in american community survey.
You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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Please note, there is a significant difference between Great West's value and its price as these two are different measures arrived at by different means. Investors typically determine if Great West is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Great West's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
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