Pender Real Correlations

PNDIX Fund

10.05 0.01 0.1%

The current 90-days correlation between Pender Real Estate and Wmcanx is 0.06 (i.e., Significant diversification). The correlation of Pender Real 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.

Pender Real Correlation With Market

Significant diversification

The correlation between Pender Real Estate and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pender Real Estate 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 Pender Real Estate. 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 Pender Mutual Fund

0.78	T	ATT Inc Sell-off Trend	Pair Corr
0.75	KO	Coca Cola	Pair Corr
0.66	BA	Boeing Sell-off Trend	Pair Corr
0.69	MCD	McDonalds	Pair Corr

Moving against Pender Mutual Fund

0.9	DIS	Walt Disney Buyout Trend	Pair Corr
0.88	HPQ	HP Inc	Pair Corr
0.82	VTSAX	Vanguard Total Stock	Pair Corr
0.82	VTSMX	Vanguard Total Stock	Pair Corr
0.82	VITSX	Vanguard Total Stock	Pair Corr
0.82	VSTSX	Vanguard Total Stock	Pair Corr
0.82	VSMPX	Vanguard Total Stock	Pair Corr
0.82	CAT	Caterpillar Sell-off Trend	Pair Corr
0.81	VFIAX	Vanguard 500 Index	Pair Corr
0.81	VFINX	Vanguard 500 Index	Pair Corr
0.81	VFFSX	Vanguard 500 Index	Pair Corr
0.8	DD	Dupont De Nemours Potential Growth	Pair Corr
0.8	BAC	Bank of America Aggressive Push	Pair Corr
0.78	PFE	Pfizer Inc	Pair Corr
0.78	AXP	American Express	Pair Corr
0.69	MMM	3M Company	Pair Corr
0.65	JPM	JPMorgan Chase	Pair Corr
0.58	MRK	Merck Company	Pair Corr
0.4	GE	GE Aerospace	Pair Corr
0.37	WMT	Walmart Aggressive Push	Pair Corr
0.34	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	WMCANX	FLKYPX	OPTCX	FTUFOX	WRLDX	FBJYGX	FURYAX
WMCANX		0.89	-0.68	0.07	0.8	0.58	0.91	WMCANX
FLKYPX	0.89		-0.76	-0.09	0.75	0.37	0.96	FLKYPX
OPTCX	-0.68	-0.76		0.12	-0.56	-0.07	-0.78	OPTCX
FTUFOX	0.07	-0.09	0.12		0.35	0.47	0.06	FTUFOX
WRLDX	0.8	0.75	-0.56	0.35		0.74	0.88	WRLDX
FBJYGX	0.58	0.37	-0.07	0.47	0.74		0.53	FBJYGX
FURYAX	0.91	0.96	-0.78	0.06	0.88	0.53		FURYAX
	WMCANX	FLKYPX	OPTCX	FTUFOX	WRLDX	FBJYGX	FURYAX

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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

FURYAX	+ 0.96	FLKYPX
FURYAX	+ 0.91	WMCANX
FLKYPX	+ 0.89	WMCANX
FURYAX	+ 0.88	WRLDX
WRLDX	+ 0.8	WMCANX
WRLDX	+ 0.75	FLKYPX

High negative correlations

FURYAX	- 0.78	OPTCX
OPTCX	- 0.76	FLKYPX
OPTCX	- 0.68	WMCANX
WRLDX	- 0.56	OPTCX
FTUFOX	- 0.09	FLKYPX
FBJYGX	- 0.07	OPTCX

Risk-Adjusted Indicators

There is a big difference between Pender Mutual Fund performing well and Pender Real 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 Pender Real'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WMCANX	0.91	0.07	0.00	(0.04)	0.00	0.00	1.61	(2.02)	8.60
FLKYPX	1.35	(0.09)	0.00	2.93	0.00	0.00	2.42	(2.95)	12.35
OPTCX	0.02	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.21
FTUFOX	0.12	(0.01)	0.58	(3.70)	0.19	(0.11)	0.22	(0.26)	0.77
WRLDX	0.85	(0.01)	0.08	0.21	1.46	(0.78)	1.37	(1.68)	7.05
FBJYGX	1.10	0.08	0.12	(0.87)	1.62	(1.09)	2.11	(2.36)	9.96
FURYAX	1.05	(0.09)	0.00	0.90	0.00	0.00	1.87	(1.83)	10.68

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