Pnc International Correlations

Mutual Funds . USA . 
Fund . Pnc International Growth
PIGDX Fund  USD 16.01  0.05  0.31%   
The current 90-days correlation between Pnc International Growth and Manning Napier Overseas is 0.94 (i.e., Almost no diversification). The correlation of Pnc International 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.

Pnc International Correlation With Market

Very poor diversification

The correlation between Pnc International Growth and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pnc International Growth 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 Pnc International Growth. 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 unemployment.

Moving together with Pnc Mutual Fund

  0.83EMDIX Federated Emerging MarketPairCorr
  0.86QKACX Federated Mdt AllPairCorr
  0.89QKBGX Federated Mdt BalancedPairCorr
  0.92SBFIX Federated Global AllPairCorr
  0.96FRIEX Federated Hermes EmergingPairCorr
  0.61STFSX Federated StrategicPairCorr
  0.61STIAX Federated StrategicPairCorr
  0.73STILX Federated StrategicPairCorr
  0.66STISX Federated StrategicPairCorr
  0.87FRSAX Federated Floating RatePairCorr
  0.92FSBCX Federated Global AllPairCorr
  0.92FSBKX Federated Global AllPairCorr
  0.92FSBLX Federated Global AllPairCorr
  0.83QLSGX Federated Mdt SmallPairCorr
  0.75QLSCX Federated Mdt SmallPairCorr
  0.83FSTKX Federated Mdt LargePairCorr
  0.84FSTLX Federated Mdt LargePairCorr
  0.83FSTRX Federated Mdt LargePairCorr
  0.92FSTBX Federated Global AllPairCorr
  0.96PIEFX Pnc Emerging MarketsPairCorr
  0.94PIUCX Pnc International EquityPairCorr
  0.99PIUIX Pnc International EquityPairCorr

Moving against Pnc Mutual Fund

  0.34FTGLX Federated Total ReturnPairCorr
  0.33FTGSX Federated Total ReturnPairCorr
  0.34FTRGX Federated Total ReturnPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Pnc Mutual Fund performing well and Pnc International 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 Pnc International'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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