Midcap Growth Correlations

Mutual Funds . USA . 
Fund . Midcap Growth Fund
PGWIX Fund  USD 9.94  0.08  0.81%   
The current 90-days correlation between Midcap Growth and Loomis Sayles Inflation is -0.08 (i.e., Good diversification). The correlation of Midcap Growth 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.

Midcap Growth Correlation With Market

Good diversification

The correlation between Midcap Growth Fund and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Growth 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 Midcap Growth 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 gross domestic product.

Moving together with Midcap Mutual Fund

  0.89PAMCX T Rowe PricePairCorr
  0.89RRMGX T Rowe PricePairCorr
  0.94TRQZX T Rowe PricePairCorr
  0.89RPMGX T Rowe PricePairCorr
  0.96PRJIX T Rowe PricePairCorr
  0.91PRNHX T Rowe PricePairCorr
  0.96TRUZX T Rowe PricePairCorr
  0.87PCBIX Midcap Fund InstitutionalPairCorr
  0.87PEMGX Midcap Fund ClassPairCorr
  0.87PMBCX Midcap Fund ClassPairCorr
  0.96ASG Liberty All StarPairCorr
  0.88CII Blackrock EnhancedPairCorr
  0.83ETV Eaton Vance TaxPairCorr
  0.87CLM Cornerstone StrategicPairCorr
  0.86CRF Cornerstone StrategicPairCorr
  0.9USA Liberty All StarPairCorr
  0.83ETY Eaton Vance TaxPairCorr
  0.8NFJ Virtus Dividend InterestPairCorr
  0.74AA Alcoa CorpPairCorr
  0.74BA Boeing Earnings Call This WeekPairCorr
  0.9AXP American Express Earnings Call TomorrowPairCorr
  0.88HD Home DepotPairCorr
  0.89JPM JPMorgan ChasePairCorr
  0.78DIS Walt DisneyPairCorr
  0.78MSFT Microsoft Earnings Call This WeekPairCorr
  0.78CAT Caterpillar Earnings Call This WeekPairCorr

Moving against Midcap Mutual Fund

  0.49MCD McDonaldsPairCorr
  0.38TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Midcap Mutual Fund performing well and Midcap Growth 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 Midcap Growth'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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