Global Diversified Correlations

PGBLX Fund

USD 11.93 0.02 0.17%

The current 90-days correlation between Global Diversified Income and Nuveen Minnesota Municipal is 0.46 (i.e., Very weak diversification). The correlation of Global Diversified 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.

Global Diversified Correlation With Market

Good diversification

The correlation between Global Diversified Income and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Diversified Income 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 Global Diversified Income. 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 Global Mutual Fund

0.78	PFIJX	Strategic Asset Mana	Pair Corr
0.71	PFILX	Strategic Asset Mana	Pair Corr
0.7	PFIEX	International Equity	Pair Corr
0.77	PFIFX	Strategic Asset Mana	Pair Corr
0.73	PFIGX	Strategic Asset Mana	Pair Corr
0.8	PFISX	International Small Pany	Pair Corr
0.8	PFIPX	Strategic Asset Mana	Pair Corr
0.78	SAUPX	Strategic Asset Mana	Pair Corr
0.62	PFUMX	Finisterre Unconstrained	Pair Corr
0.99	PGBAX	Global Diversified Income	Pair Corr
0.99	PGDCX	Global Diversified Income	Pair Corr
1.0	PGDIX	Global Diversified Income	Pair Corr
0.7	PGDRX	Diversified Real Asset	Pair Corr
0.87	STCCX	Short Term Income	Pair Corr
0.82	PGRUX	Global Real Estate	Pair Corr
0.78	PGRVX	Global Real Estate	Pair Corr
0.8	PGSLX	Principal Global Sus	Pair Corr
0.83	PGRKX	Global Real Estate	Pair Corr
0.89	PYHIX	High Yield Fund	Pair Corr

Moving against Global Mutual Fund

0.37	PFPPX	Midcap Growth	Pair Corr
0.43	PHASX	Midcap Growth Steady Growth	Pair Corr
0.37	PGWIX	Midcap Growth	Pair Corr

Related Correlations Analysis

	FYMNX	CFNLX	FAZTX	OWMBX	BIDPX	FHYVX	PCMNX	PRINX
FYMNX		0.87	0.98	0.69	0.84	0.97	0.72	0.97	FYMNX
CFNLX	0.87		0.94	0.93	0.91	0.78	0.92	0.93	CFNLX
FAZTX	0.98	0.94		0.8	0.9	0.93	0.82	0.99	FAZTX
OWMBX	0.69	0.93	0.8		0.92	0.59	0.98	0.78	OWMBX
BIDPX	0.84	0.91	0.9	0.92		0.8	0.96	0.88	BIDPX
FHYVX	0.97	0.78	0.93	0.59	0.8		0.65	0.93	FHYVX
PCMNX	0.72	0.92	0.82	0.98	0.96	0.65		0.8	PCMNX
PRINX	0.97	0.93	0.99	0.78	0.88	0.93	0.8		PRINX
	FYMNX	CFNLX	FAZTX	OWMBX	BIDPX	FHYVX	PCMNX	PRINX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Diversified 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 Global Diversified'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
FYMNX	0.14	0.03	(0.30)	(0.17)	0.14	(0.21)	0.37	(0.28)	1.40
CFNLX	0.12	0.01	(0.44)	(0.02)	0.17	(0.16)	0.22	(0.32)	1.13
FAZTX	0.14	0.02	(0.33)	(0.21)	0.16	(0.19)	0.30	(0.29)	1.29
OWMBX	0.10	(0.01)	(0.54)	(0.22)	0.15	(0.16)	0.26	(0.26)	0.87
BIDPX	0.15	0.00	(0.33)	0.14	0.21	(0.18)	0.27	(0.45)	1.36
FHYVX	0.17	0.04	(0.21)	(0.20)	0.19	(0.26)	0.44	(0.44)	1.88
PCMNX	0.11	(0.01)	(0.40)	(0.15)	0.18	(0.16)	0.25	(0.25)	1.07
PRINX	0.16	0.03	(0.27)	(0.16)	0.20	(0.23)	0.44	(0.44)	1.59

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