Rational/pier Correlations

PBXIX Fund

USD 10.68 0.02 0.19%

The current 90-days correlation between Rationalpier 88 Conv and Lord Abbett Convertible is -0.04 (i.e., Good diversification). The correlation of Rational/pier 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.

Rational/pier Correlation With Market

Good diversification

The correlation between Rationalpier 88 Convertible and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rationalpier 88 Convertible and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Rationalpier 88 Convertible. 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 Rational/pier Mutual Fund

0.98	RNECX	Rationalrgn Hedged Equity	Pair Corr
0.98	RNEIX	Rationalrgn Hedged Equity	Pair Corr
0.93	RDMAX	Rational Dynamic Momentum	Pair Corr
0.95	RDMIX	Rational Dynamic Momentum	Pair Corr
0.93	RDMCX	Rational Dynamic Momentum	Pair Corr
0.98	RHSAX	Rational Strategic	Pair Corr
0.94	RHSIX	Rational Strategic	Pair Corr
0.94	RHSCX	Rational Strategic	Pair Corr
0.9	HSUAX	Rational Defensive Growth	Pair Corr
0.9	HSUCX	Rational Defensive Growth	Pair Corr
0.97	HBAFX	Rational Strategic	Pair Corr
0.9	HSUTX	Rational Defensive Growth	Pair Corr
0.91	HDCAX	Rational Dividend Capture	Pair Corr
0.91	HDCEX	Rational Dividend Capture	Pair Corr
0.91	HDCTX	Rational Dividend Capture	Pair Corr
1.0	PBXCX	Rationalpier 88 Conv	Pair Corr
1.0	PBXAX	Rationalpier 88 Conv	Pair Corr
0.93	FCSZX	Franklin Convertible	Pair Corr
0.99	FCSKX	Franklin Vertible	Pair Corr
0.93	FISCX	Franklin Convertible	Pair Corr
0.93	FROTX	Franklin Convertible	Pair Corr
0.97	ANZCX	Allianzgi Convertible	Pair Corr
0.97	ANZAX	Allianzgi Convertible	Pair Corr
0.97	ANNPX	Allianzgi Convertible	Pair Corr
0.97	VAADX	Virtus Convertible	Pair Corr
0.97	FCVSX	Fidelity Vertible	Pair Corr
0.83	KNPYX	Kinetics Paradigm	Pair Corr
0.76	LSHUX	Horizon Spin Off	Pair Corr
0.74	WWNPX	Kinetics Paradigm	Pair Corr
0.76	LSHEX	Kinetics Spin Off	Pair Corr
0.67	LSHAX	Horizon Spin Off	Pair Corr
0.83	KNPAX	Kinetics Paradigm	Pair Corr

Moving against Rational/pier Mutual Fund

0.72	HRSTX	Rational Real Strategies	Pair Corr
0.69	HRSAX	Rational Real Strategies	Pair Corr
0.64	HRSFX	Rational Real Strategies	Pair Corr
0.54	RFXIX	Rational Special Sit	Pair Corr
0.47	RFXCX	Rational Special Sit	Pair Corr
0.46	RFXAX	Rational Special Sit	Pair Corr
0.66	SLDBX	Siit Limited Duration	Pair Corr
0.56	FADZX	Fadzx	Pair Corr
0.38	NOCBX	Northern E Bond	Pair Corr
0.37	NEFRX	Loomis Sayles E	Pair Corr

Related Correlations Analysis

	PBXIX	LCFYX	NCIDX	PCNTX	CCD	VAADX	FSAWX
PBXIX		0.93	0.97	0.97	0.92	0.97	-0.78	PBXIX
LCFYX	0.93		0.94	0.95	0.98	0.95	-0.81	LCFYX
NCIDX	0.97	0.94		0.98	0.94	0.99	-0.82	NCIDX
PCNTX	0.97	0.95	0.98		0.95	1.0	-0.86	PCNTX
CCD	0.92	0.98	0.94	0.95		0.96	-0.88	CCD
VAADX	0.97	0.95	0.99	1.0	0.96		-0.86	VAADX
FSAWX	-0.78	-0.81	-0.82	-0.86	-0.88	-0.86		FSAWX
	PBXIX	LCFYX	NCIDX	PCNTX	CCD	VAADX	FSAWX

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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

VAADX	+ 1.0	PCNTX
VAADX	+ 0.99	NCIDX
CCD	+ 0.98	LCFYX
PCNTX	+ 0.98	NCIDX
NCIDX	+ 0.97	PBXIX
PCNTX	+ 0.97	PBXIX

High negative correlations

FSAWX	- 0.88	CCD
FSAWX	- 0.86	VAADX
FSAWX	- 0.86	PCNTX
FSAWX	- 0.82	NCIDX
FSAWX	- 0.81	LCFYX
FSAWX	- 0.78	PBXIX

Risk-Adjusted Indicators

There is a big difference between Rational/pier Mutual Fund performing well and Rational/pier 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 Rational/pier'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PBXIX	0.53	(0.06)	0.00	2.78	0.00	0.83	(1.28)	4.32
LCFYX	0.74	0.00	0.00	(0.19)	0.00	1.10	(1.56)	4.64
NCIDX	0.73	(0.10)	0.00	2.40	0.00	1.30	(1.69)	5.83
PCNTX	0.80	(0.10)	0.00	2.35	0.00	1.29	(1.94)	6.25
CCD	1.06	(0.02)	0.00	(0.20)	0.00	1.28	(2.49)	10.55
VAADX	0.74	(0.10)	0.00	7.52	0.00	1.16	(1.67)	5.47
FSAWX	0.11	0.03	0.75	(0.64)	(0.16)	0.28	(0.09)	1.49

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