Paradigm Select Correlations

Mutual Funds . USA . 
Fund . Paradigm Select Fund
PFSLX Fund  USD 77.91  1.55  2.03%   
The current 90-days correlation between Paradigm Select and Paradigm Micro Cap Fund is 0.93 (i.e., Almost no diversification). The correlation of Paradigm Select 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.

Paradigm Select Correlation With Market

Very poor diversification

The correlation between Paradigm Select Fund and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paradigm Select Fund 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 Paradigm Select 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 bureau of economic analysis.

Moving together with Paradigm Mutual Fund

  0.94PVFAX Paradigm ValuePairCorr
  0.93PVIVX Paradigm Micro Cap Steady GrowthPairCorr
  0.93VIMAX Vanguard Mid CapPairCorr
  0.93VIMSX Vanguard Mid CapPairCorr
  0.95VMCPX Vanguard Mid CapPairCorr
  0.95VMCIX Vanguard Mid CapPairCorr
  0.93VEXAX Vanguard Extended MarketPairCorr
  0.96VEMPX Vanguard Extended MarketPairCorr
  0.93VIEIX Vanguard Extended MarketPairCorr
  0.87VSEMX Vanguard Extended MarketPairCorr
  0.96VEXMX Vanguard Extended MarketPairCorr
  0.96FSMAX Fidelity Extended MarketPairCorr
  0.89ERH Allspring Utilities AndPairCorr
  0.94WHIYX Ivy High IncomePairCorr
  0.95IVHIX Ivy High IncomePairCorr
  0.94IHIFX Ivy High IncomePairCorr
  0.94WRHIX Ivy High IncomePairCorr
  0.94WHIAX Ivy High IncomePairCorr
  0.77CSJZX Cohen Steers RealtyPairCorr
  0.79CSRSX Cohen Steers RealtyPairCorr
  0.89ICEVX Mainstay Epoch InterPairCorr
  0.96WABABX WababxPairCorr
  0.97CAMSX Cambiar Small CapPairCorr
  0.89IGR Cbre Clarion GlobalPairCorr
  0.79PTTFX T Rowe PricePairCorr
  0.96PLSAX Largecap Sp 500PairCorr
  0.72BAIPX Blackrock Short TermPairCorr
  0.93AQGIX Aqr Global EquityPairCorr
  0.9FXICX Fixed Income SharesPairCorr
  0.94JACCX Janus Forty FundPairCorr
  0.96LIDPX Blackrock Lifepath IndexPairCorr
  0.97FCSKX Franklin VertiblePairCorr
  0.96MROUX Massmutual RetiresmartPairCorr
  0.89TSWMX Tsw Emerging MarketsPairCorr
  0.89SAFEX Weitz Ultra ShortPairCorr
  0.96JVASX Jpmorgan Value AdvantagePairCorr
  0.9HOSTX Holbrook StructuredPairCorr
  0.97LWLAX L Mason QsPairCorr
  0.77THMIX Thornburg IntermediatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Paradigm Mutual Fund performing well and Paradigm Select 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 Paradigm Select'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.

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