Midcap Fund Correlations

PMBCX Fund

USD 35.58 0.09 0.25%

The correlation of Midcap Fund 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 Fund Correlation With Market

Poor diversification

The correlation between Midcap Fund Class and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Fund Class 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 Fund Class. 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 private.

Moving together with Midcap Mutual Fund

0.67	PGBEX	Blue Chip Fund	Pair Corr
0.66	PGBGX	Blue Chip Fund	Pair Corr

Moving against Midcap Mutual Fund

0.74	PGSLX	Principal Global Sus	Pair Corr
0.57	PHJFX	Principal Lifetime Hybrid	Pair Corr
0.54	PFIJX	Strategic Asset Mana	Pair Corr
0.53	PFIFX	Strategic Asset Mana	Pair Corr
0.53	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.51	PFIPX	Strategic Asset Mana	Pair Corr
0.51	SAUPX	Strategic Asset Mana	Pair Corr
0.51	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.48	SAIPX	Strategic Asset Mana	Pair Corr
0.42	SCIPX	Strategic Asset Mana	Pair Corr
0.4	SABPX	Strategic Asset Mana	Pair Corr
0.35	SAGPX	Strategic Asset Mana	Pair Corr
0.35	PFIEX	International Equity	Pair Corr
0.35	SCBPX	Strategic Asset Mana	Pair Corr
0.31	SCGPX	Strategic Asset Mana	Pair Corr
0.57	PHJMX	Principal Lifetime Hybrid	Pair Corr
0.57	PHJTX	Principal Lifetime Hybrid	Pair Corr
0.56	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.56	PHTQX	Principal Lifetime Hybrid	Pair Corr
0.56	PIIMX	International Emerging	Pair Corr
0.55	PHTNX	Principal Lifetime Hybrid	Pair Corr
0.54	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.54	PHTJX	Principal Lifetime Hybrid	Pair Corr
0.52	PHJYX	Principal Lifetime Hybrid	Pair Corr
0.52	PHSPX	Pimco High Yield	Pair Corr
0.52	PHTUX	Principal Lifetime Hybrid	Pair Corr
0.52	PHTYX	Principal Lifetime Hybrid	Pair Corr
0.51	PHJBX	Principal Lifetime Hybrid	Pair Corr

Related Correlations Analysis

	SWGXX	MODXX	MPIXX	PBMXX	QCMMIX	SMAAX	TLMXX	JHMXX
SWGXX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SWGXX
MODXX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MODXX
MPIXX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MPIXX
PBMXX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	PBMXX
QCMMIX	0.0	0.0	0.0	0.0		0.84	0.0	0.0	QCMMIX
SMAAX	0.0	0.0	0.0	0.0	0.84		0.0	0.0	SMAAX
TLMXX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TLMXX
JHMXX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		JHMXX
	SWGXX	MODXX	MPIXX	PBMXX	QCMMIX	SMAAX	TLMXX	JHMXX

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

SMAAX	+ 0.84	QCMMIX
MODXX	+ 0.0	SWGXX
MPIXX	+ 0.0	SWGXX
PBMXX	+ 0.0	SWGXX
QCMMIX	+ 0.0	SWGXX
SMAAX	+ 0.0	SWGXX

High negative correlations

JHMXX	- 0.0	TLMXX
JHMXX	- 0.0	SMAAX
TLMXX	- 0.0	SMAAX
JHMXX	- 0.0	QCMMIX
TLMXX	- 0.0	QCMMIX
JHMXX	- 0.0	PBMXX

Risk-Adjusted Indicators

There is a big difference between Midcap Mutual Fund performing well and Midcap Fund 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 Fund'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SWGXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MODXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MPIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PBMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QCMMIX	0.02	0.01	0.00	1.81	0.00	0.03	0.00	0.03
SMAAX	0.08	0.02	(0.25)	(15.21)	(0.15)	0.20	(0.10)	0.59
TLMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JHMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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