Precious Metals Correlations

PMPSX Fund

USD 69.09 0.91 1.33%

The current 90-days correlation between Precious Metals Ultr and Dreyfusstandish Global Fixed is -0.25 (i.e., Very good diversification). The correlation of Precious Metals 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.

Precious Metals Correlation With Market

Very weak diversification

The correlation between Precious Metals Ultrasector and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Precious Metals Ultrasector 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 Precious Metals Ultrasector. 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 Precious Mutual Fund

0.69	UIPIX	Ultrashort Mid Cap	Pair Corr
0.67	UIPSX	Ultrashort Mid Cap	Pair Corr
0.63	BRPIX	Bear Profund Bear	Pair Corr
0.62	BRPSX	Bear Profund Bear	Pair Corr

Moving against Precious Mutual Fund

0.71	MLPSX	Mid Cap Value	Pair Corr
0.71	MLPIX	Mid Cap Value	Pair Corr
0.68	TEPIX	Technology Ultrasector	Pair Corr
0.68	TEPSX	Technology Ultrasector	Pair Corr
0.67	LGPIX	Large Cap Growth	Pair Corr
0.67	LGPSX	Profunds Large Cap	Pair Corr
0.67	OTPIX	Nasdaq 100 Profund	Pair Corr
0.67	OTPSX	Nasdaq 100 Profund	Pair Corr
0.66	UJPSX	Ultrajapan Profund	Pair Corr
0.65	UJPIX	Ultrajapan Profund	Pair Corr
0.45	ENPSX	Oil Gas Ultrasector	Pair Corr
0.45	ENPIX	Oil Gas Ultrasector	Pair Corr
0.76	SVPIX	Small Cap Value	Pair Corr
0.76	SVPSX	Small Cap Value	Pair Corr
0.75	CYPSX	Consumer Services	Pair Corr
0.75	CYPIX	Consumer Services	Pair Corr
0.75	UMPSX	Ultramid Cap Profund	Pair Corr
0.74	UMPIX	Ultramid Cap Profund	Pair Corr
0.73	OEPSX	Oil Equipment Services	Pair Corr
0.73	OEPIX	Oil Equipment Services	Pair Corr
0.71	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.69	PHPIX	Pharmaceuticals Ultrasector	Pair Corr
0.69	ULPIX	Ultrabull Profund	Pair Corr
0.69	ULPSX	Ultrabull Profund	Pair Corr
0.65	BTCFX	Bitcoin Strategy Profund	Pair Corr
0.65	INPIX	Internet Ultrasector	Pair Corr
0.65	INPSX	Internet Ultrasector	Pair Corr
0.57	WCPIX	Mobile Telecommunicatio	Pair Corr
0.56	WCPSX	Mobile Telecommunicatio	Pair Corr

Related Correlations Analysis

	DHGAX	SGMAX	NGJCX	LFLCX	TEDIX	ZGFIX	DBLGX	PREAX
DHGAX		0.62	0.18	0.56	0.24	0.13	0.51	0.15	DHGAX
SGMAX	0.62		0.65	0.9	0.8	0.62	0.16	0.61	SGMAX
NGJCX	0.18	0.65		0.7	0.84	0.92	-0.37	0.85	NGJCX
LFLCX	0.56	0.9	0.7		0.84	0.65	-0.09	0.71	LFLCX
TEDIX	0.24	0.8	0.84	0.84		0.85	-0.21	0.67	TEDIX
ZGFIX	0.13	0.62	0.92	0.65	0.85		-0.39	0.77	ZGFIX
DBLGX	0.51	0.16	-0.37	-0.09	-0.21	-0.39		-0.56	DBLGX
PREAX	0.15	0.61	0.85	0.71	0.67	0.77	-0.56		PREAX
	DHGAX	SGMAX	NGJCX	LFLCX	TEDIX	ZGFIX	DBLGX	PREAX

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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

ZGFIX	+ 0.92	NGJCX
LFLCX	+ 0.9	SGMAX
PREAX	+ 0.85	NGJCX
ZGFIX	+ 0.85	TEDIX
TEDIX	+ 0.84	NGJCX
TEDIX	+ 0.84	LFLCX

High negative correlations

PREAX	- 0.56	DBLGX
DBLGX	- 0.39	ZGFIX
DBLGX	- 0.37	NGJCX
DBLGX	- 0.21	TEDIX
DBLGX	- 0.09	LFLCX

Risk-Adjusted Indicators

There is a big difference between Precious Mutual Fund performing well and Precious Metals 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 Precious Metals' 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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DHGAX	0.20	0.00	0.56	(0.25)	0.26	(0.21)	0.45	(0.45)	1.39
SGMAX	0.64	0.04	0.20	(0.62)	1.07	(0.69)	1.24	(1.33)	6.25
NGJCX	0.89	0.13	0.14	0.02	1.35	(0.84)	1.63	(1.95)	6.54
LFLCX	0.20	0.01	0.48	1.53	0.29	(0.24)	0.44	(0.22)	1.87
TEDIX	0.83	0.14	0.12	(0.01)	1.51	(0.81)	1.47	(1.93)	8.63
ZGFIX	0.79	0.11	0.00	(0.04)	0.00	0.00	1.45	(1.59)	7.68
DBLGX	0.26	0.08	0.98	(2.30)	0.00	(0.36)	0.73	(0.36)	2.12
PREAX	0.96	(0.04)	0.11	0.03	1.44	(0.94)	1.70	(2.55)	7.24

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