Mid-cap Profund Correlations

MDPIX Fund

USD 121.04 0.24 0.20%

The current 90-days correlation between Mid Cap Profund and Old Westbury Fixed is -0.27 (i.e., Very good diversification). The correlation of Mid-cap Profund 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.

Mid-cap Profund Correlation With Market

Almost no diversification

The correlation between Mid Cap Profund Mid Cap and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Profund Mid Cap and DJI 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 Mid Cap Profund Mid Cap. 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 gross domestic product.

Moving together with Mid-cap Mutual Fund

0.98	TEPIX	Technology Ultrasector Steady Growth	Pair Corr
0.98	TEPSX	Technology Ultrasector Steady Growth	Pair Corr
0.92	LGPIX	Large Cap Growth	Pair Corr
0.96	LGPSX	Profunds Large Cap	Pair Corr
0.98	OTPIX	Nasdaq 100 Profund	Pair Corr
0.95	UJPIX	Ultrajapan Profund	Pair Corr
0.92	OTPSX	Nasdaq 100 Profund	Pair Corr
0.95	UJPSX	Ultrajapan Profund	Pair Corr
0.98	MLPSX	Mid Cap Value	Pair Corr
0.98	MLPIX	Mid Cap Value	Pair Corr
0.71	ENPSX	Oil Gas Ultrasector	Pair Corr
0.71	ENPIX	Oil Gas Ultrasector	Pair Corr
0.81	PHPIX	Pharmaceuticals Ultrasector	Pair Corr
0.8	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.96	INPIX	Internet Ultrasector Steady Growth	Pair Corr
0.96	INPSX	Internet Ultrasector	Pair Corr
0.92	ULPIX	Ultrabull Profund	Pair Corr
0.99	ULPSX	Ultrabull Profund Steady Growth	Pair Corr
0.98	WCPIX	Mobile Telecommunicatio	Pair Corr
0.98	WCPSX	Mobile Telecommunicatio	Pair Corr
0.86	OEPSX	Oil Equipment Services	Pair Corr
0.96	CYPSX	Consumer Services Steady Growth	Pair Corr
0.9	CYPIX	Consumer Services Steady Growth	Pair Corr
0.8	OEPIX	Oil Equipment Services	Pair Corr
0.96	SVPIX	Small Cap Value	Pair Corr
0.89	SVPSX	Small Cap Value	Pair Corr
0.99	UMPSX	Ultramid Cap Profund Steady Growth	Pair Corr
0.99	UMPIX	Ultramid Cap Profund Steady Growth	Pair Corr

Moving against Mid-cap Mutual Fund

0.98	UIPIX	Ultrashort Mid Cap	Pair Corr
0.98	UIPSX	Ultrashort Mid Cap	Pair Corr
0.91	UKPSX	Ultrashort Japan Profund	Pair Corr
0.9	BRPIX	Bear Profund Bear	Pair Corr
0.9	BRPSX	Bear Profund Bear	Pair Corr
0.89	UKPIX	Ultrashort Japan Profund	Pair Corr
0.82	SRPIX	Short Real Estate	Pair Corr
0.8	SRPSX	Short Real Estate	Pair Corr
0.7	FDPSX	Falling Dollar Profund	Pair Corr
0.67	FDPIX	Falling Dollar Profund	Pair Corr

Related Correlations Analysis

	OWFIX	TOIIX	MSTFX	DDCFX	GRSPX	SMNIX	QLENX
OWFIX		0.36	0.12	0.75	-0.45	0.76	0.27	OWFIX
TOIIX	0.36		0.82	0.25	0.23	0.25	0.86	TOIIX
MSTFX	0.12	0.82		0.2	0.65	-0.08	0.72	MSTFX
DDCFX	0.75	0.25	0.2		-0.29	0.64	0.11	DDCFX
GRSPX	-0.45	0.23	0.65	-0.29		-0.58	0.42	GRSPX
SMNIX	0.76	0.25	-0.08	0.64	-0.58		0.13	SMNIX
QLENX	0.27	0.86	0.72	0.11	0.42	0.13		QLENX
	OWFIX	TOIIX	MSTFX	DDCFX	GRSPX	SMNIX	QLENX

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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

QLENX	+ 0.86	TOIIX
MSTFX	+ 0.82	TOIIX
SMNIX	+ 0.76	OWFIX
DDCFX	+ 0.75	OWFIX
QLENX	+ 0.72	MSTFX
GRSPX	+ 0.65	MSTFX

High negative correlations

SMNIX	- 0.58	GRSPX
GRSPX	- 0.45	OWFIX
GRSPX	- 0.29	DDCFX
SMNIX	- 0.08	MSTFX

Risk-Adjusted Indicators

There is a big difference between Mid-cap Mutual Fund performing well and Mid-cap Profund 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 Mid-cap Profund'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
OWFIX	0.22	0.01	0.28	(0.41)	0.22	(0.25)	0.40	(0.39)	1.37
TOIIX	0.85	0.22	0.14	0.29	1.39	(0.85)	2.02	(2.16)	9.67
MSTFX	0.90	0.09	0.11	(1.15)	1.29	(0.96)	1.98	(2.04)	8.05
DDCFX	0.24	0.00	0.21	0.03	0.29	(0.28)	0.54	(0.43)	1.63
GRSPX	1.12	(0.03)	0.00	0.27	0.00	0.00	2.09	(2.26)	10.61
SMNIX	0.47	0.05	0.23	1.01	0.42	(0.53)	1.00	(0.74)	2.62
QLENX	0.57	0.11	0.13	0.18	1.04	(0.53)	0.96	(0.88)	5.33

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