Midcap Fund Correlations

Mutual Funds USA . 
Fund . Midcap Fund R 5
PMBPX Fund  USD 46.86  0.92  2.00%   
The current 90-days correlation between Midcap Fund R and Legg Mason Partners is 0.36 (i.e., Weak 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 0.88 (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 state.

Moving together with Midcap Mutual Fund

  0.85SABPX Strategic Asset ManaPairCorr
  0.86SACAX Strategic Asset ManaPairCorr
  0.86SAGPX Strategic Asset ManaPairCorr
  0.83PFIJX Strategic Asset ManaPairCorr
  0.67PFIEX International EquityPairCorr
  0.84PFIFX Strategic Asset ManaPairCorr
  0.73PFISX International Small PanyPairCorr
  0.84PFIPX Strategic Asset ManaPairCorr
  0.84SAIPX Strategic Asset ManaPairCorr
  0.9PFLJX Principal Lifetime 2050PairCorr
  0.94PFPPX Midcap GrowthPairCorr
  0.83SAUPX Strategic Asset ManaPairCorr
  0.79PFUMX Finisterre UnconstrainedPairCorr
  0.84PGBLX Global Diversified IncomePairCorr
  0.93PGBEX Blue Chip FundPairCorr
  0.93PGBGX Blue Chip FundPairCorr
  0.93PGBHX Blue Chip FundPairCorr
  0.84PGDCX Global Diversified IncomePairCorr
  0.84PGDIX Global Diversified IncomePairCorr
  0.79PGDRX Diversified Real AssetPairCorr
  0.84PGLSX Global Multi StrategyPairCorr
  0.7STCCX Short Term IncomePairCorr
  0.91PGRTX Smallcap GrowthPairCorr
  0.94PGWIX Midcap GrowthPairCorr
  0.89SCBPX Strategic Asset ManaPairCorr
  0.87SCIPX Strategic Asset ManaPairCorr
  0.89SCGPX Strategic Asset ManaPairCorr
  0.87PHJEX Principal Lifetime HybridPairCorr
  0.86PHJFX Principal Lifetime HybridPairCorr
  0.88PHJBX Principal Lifetime HybridPairCorr
  0.88PHJDX Principal Lifetime HybridPairCorr
  0.87PHJNX Principal Lifetime HybridPairCorr
  0.87PHJQX Principal Lifetime HybridPairCorr
  0.87PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis


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.

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