Correlation Analysis Between Amana Growth and Growth Fund

This module allows you to analyze existing cross correlation between Amana Growth Fund Institutional and The Growth Fund Of America Clas. You can compare the effects of market volatilities on Amana Growth and Growth Fund and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Amana Growth with a short position of Growth Fund. See also your portfolio center. Please also check ongoing floating volatility patterns of Amana Growth and Growth Fund.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Amana Growth Fund  
99

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Amana Growth Fund Institutional are ranked lower than 9 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, Amana Growth may actually be approaching a critical reversion point that can send shares even higher in December 2019.
Growth Fund  
99

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in The Growth Fund Of America Clas are ranked lower than 9 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, Growth Fund may actually be approaching a critical reversion point that can send shares even higher in December 2019.

Amana Growth and Growth Fund Volatility Contrast

 Predicted Return Density 
      Returns 

Amana Growth Fund Institutiona  vs.  The Growth Fund Of America Cla

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Amana Growth is expected to generate 1.29 times less return on investment than Growth Fund. But when comparing it to its historical volatility, Amana Growth Fund Institutional is 1.19 times less risky than Growth Fund. It trades about 0.14 of its potential returns per unit of risk. The Growth Fund Of America Clas is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  4,713  in The Growth Fund Of America Clas on October 22, 2019 and sell it today you would earn a total of  409.00  from holding The Growth Fund Of America Clas or generate 8.68% return on investment over 30 days.

Pair Corralation between Amana Growth and Growth Fund

0.95
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Amana Growth and Growth Fund

Amana Growth Fund Institutiona diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Amana Growth Fund Institutiona and The Growth Fund Of America Cla in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Growth Fund and Amana Growth is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Amana Growth Fund Institutional are associated (or correlated) with Growth Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Growth Fund has no effect on the direction of Amana Growth i.e. Amana Growth and Growth Fund go up and down completely randomly.
See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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