Midcap Fund Correlations

Mutual Funds . USA . 
Fund . Midcap Fund R 5
PMBPX Fund  USD 46.35  0.44  0.94%   
The current 90-days correlation between Midcap Fund R and Strategic Asset Management is 0.72 (i.e., Poor diversification). 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

Very poor diversification

The correlation between Midcap Fund R 5 and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Fund R 5 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 R 5. 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 american community survey.

Moving together with Midcap Mutual Fund

  0.64SABPX Strategic Asset ManaPairCorr
  0.66SACAX Strategic Asset ManaPairCorr
  0.65SAGPX Strategic Asset ManaPairCorr
  0.63PFIEX International EquityPairCorr
  0.62PFIFX Strategic Asset ManaPairCorr
  0.61PFIPX Strategic Asset ManaPairCorr
  0.61SAIPX Strategic Asset ManaPairCorr
  0.91PFLJX Principal Lifetime 2050PairCorr
  0.92PFPPX Midcap GrowthPairCorr
  0.87SAUPX Strategic Asset ManaPairCorr
  0.86PFUMX Finisterre UnconstrainedPairCorr
  0.86PGBAX Global Diversified IncomePairCorr
  0.87PGBLX Global Diversified IncomePairCorr
  0.91PGBEX Blue Chip FundPairCorr
  0.91PGBGX Blue Chip FundPairCorr
  0.88PGBHX Blue Chip FundPairCorr
  0.87PGDCX Global Diversified IncomePairCorr
  0.86PGDIX Global Diversified IncomePairCorr
  0.79PGDRX Diversified Real AssetPairCorr
  0.88PGLSX Global Multi StrategyPairCorr
  0.7STCCX Short Term IncomePairCorr
  0.89PGRTX Smallcap GrowthPairCorr
  0.91SCBPX Strategic Asset ManaPairCorr
  0.9SCIPX Strategic Asset ManaPairCorr
  0.91SCGPX Strategic Asset ManaPairCorr
  0.88PHJEX Principal Lifetime HybridPairCorr
  0.89PHJFX Principal Lifetime HybridPairCorr
  0.9PHJGX Principal Lifetime HybridPairCorr
  0.9PHJBX Principal Lifetime HybridPairCorr
  0.9PHJDX Principal Lifetime HybridPairCorr
  0.88PHJNX Principal Lifetime HybridPairCorr
  0.88PHJQX Principal Lifetime HybridPairCorr
  0.9PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABPX  0.31  0.05 (0.03) 0.21  0.18 
(0.36)
 0.60 
(0.48)
 2.82 
SACAX  0.44  0.06  0.04  0.19  0.34 
(0.51)
 0.87 
(0.81)
 3.89 
SAGPX  0.39  0.06  0.02  0.20  0.25 
(0.44)
 0.76 
(0.65)
 3.45 
PFIJX  0.19  0.02 (0.18) 0.23  0.01 
(0.23)
 0.42 
(0.33)
 1.25 
PFIEX  0.60  0.05 (0.07)(0.38) 0.74 
(0.62)
 1.20 
(1.24)
 4.06 
PFIFX  0.20  0.05 (0.18)(1.11) 0.03 
(0.24)
 0.49 
(0.32)
 1.32 
PFISX  0.53  0.07  0.01  0.29  0.54 
(0.57)
 1.27 
(0.92)
 2.96 
PFIPX  0.20  0.02 (0.17) 0.20  0.11 
(0.24)
 0.42 
(0.40)
 1.32 
SAIPX  0.22  0.04 (0.09) 0.23  0.07 
(0.26)
 0.48 
(0.39)
 1.85 
PFLJX  0.46  0.16  0.07 (2.01) 0.30 
(0.52)
 1.29 
(0.87)
 3.85 

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