Inflation Protection Correlations

Mutual Funds . USA . 
Fund . Inflation Protection Fund
PIPIX Fund  USD 7.88  0.01  0.13%   
The current 90-days correlation between Inflation Protection and Virtus Convertible is 0.03 (i.e., Significant diversification). The correlation of Inflation Protection 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.

Inflation Protection Correlation With Market

Good diversification

The correlation between Inflation Protection Fund and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inflation Protection 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 Inflation Protection 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 Inflation Mutual Fund

  0.83PIPJX Inflation ProtectionPairCorr
  0.84VIPSX Vanguard InflationPairCorr
  0.71VIPIX Vanguard InflationPairCorr
  0.99VAIPX Vanguard InflationPairCorr
  0.73FLIBX American Funds InflationPairCorr
  0.96FIBLX American Funds InflationPairCorr
  0.93BFICX American Funds InflationPairCorr
  0.95BFIAX American Funds InflationPairCorr
  0.96BFIFX American Funds InflationPairCorr
  0.98PARRX Real Return FundPairCorr
  0.98PRLPX Pimco Real ReturnPairCorr
  0.7HLDIX Hartford EmergingPairCorr
  0.7HLDRX Hartford EmergingPairCorr
  0.78HLDAX Hartford EmergingPairCorr
  0.77HLDCX Hartford EmergingPairCorr
  0.7HLDTX Hartford EmergingPairCorr
  0.77TLTPX Tiaa Cref LifecyclePairCorr
  0.66RNNEX New Economy FundPairCorr
  0.61EILVX Eaton Vance LargePairCorr
  0.65FSTRX Federated Mdt LargePairCorr
  0.75PMORX Putnam Mortgage OppoPairCorr

Related Correlations Analysis

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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   
NCIDX
+ 1.0
VAADX
XNCVX
+ 1.0
VAADX
XNCVX
+ 1.0
NCIDX
PCNTX
+ 0.99
VAADX
XAVKX
+ 0.99
PCNTX
XNCVX
+ 0.99
PCNTX
  
High negative correlations   
XNCVX
- 0.3
CCD
CCD
- 0.29
VAADX
PCNTX
- 0.28
CCD
NCIDX
- 0.26
CCD
XAVKX
- 0.23
CCD

Risk-Adjusted Indicators

There is a big difference between Inflation Mutual Fund performing well and Inflation Protection 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 Inflation Protection'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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