Principal Spectrum Correlations

PREF Etf

USD 18.96 0.04 0.21%

The current 90-days correlation between Principal Spectrum and Managed Account Series is 0.07 (i.e., Significant diversification). The correlation of Principal Spectrum 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.

Principal Spectrum Correlation With Market

Good diversification

The correlation between Principal Spectrum Preferred and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Principal Spectrum Preferred and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Principal Spectrum Preferred. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Principal Etf

0.9	PFF	iShares Preferred	Pair Corr
0.98	FPE	First Trust Preferred	Pair Corr
0.83	PGX	Invesco Preferred ETF	Pair Corr
0.82	PFFD	Global X Preferred	Pair Corr
0.99	VRP	Invesco Variable Rate	Pair Corr
0.83	PGF	Invesco Financial	Pair Corr
0.76	PSK	SPDR ICE Preferred	Pair Corr
0.93	PFXF	VanEck Preferred Sec	Pair Corr
0.99	FPEI	First Trust Institutional	Pair Corr
0.87	PFFA	Virtus InfraCap Preferred	Pair Corr
0.89	EMCB	WisdomTree Emerging	Pair Corr
0.94	EU	enCore Energy Corp	Pair Corr
0.94	PCY	Invesco Emerging Markets	Pair Corr
0.83	WIP	SPDR FTSE International	Pair Corr
0.78	ISHG	iShares 1 3	Pair Corr
0.63	IGOV	iShares International	Pair Corr
0.75	INTC	Intel	Pair Corr
0.62	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.89	BA	Boeing Earnings Call This Week	Pair Corr
0.96	CAT	Caterpillar	Pair Corr
0.92	IBM	International Business	Pair Corr
0.92	AXP	American Express	Pair Corr
0.84	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.93	DIS	Walt Disney	Pair Corr
0.96	BAC	Bank of America	Pair Corr
0.82	MMM	3M Company	Pair Corr

Moving against Principal Etf

0.79

MCD

McDonalds

Pair Corr

Related Correlations Analysis

	MSUMX	IPMG	FSISX	STCE	PRPRF
MSUMX		0.0	0.89	0.8	-0.67	MSUMX
IPMG	0.0		0.0	0.0	0.0	IPMG
FSISX	0.89	0.0		0.92	-0.7	FSISX
STCE	0.8	0.0	0.92		-0.63	STCE
PRPRF	-0.67	0.0	-0.7	-0.63		PRPRF
	MSUMX	IPMG	FSISX	STCE	PRPRF

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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

STCE	+ 0.92	FSISX
FSISX	+ 0.89	MSUMX
STCE	+ 0.8	MSUMX
IPMG	+ 0.0	MSUMX
FSISX	+ 0.0	IPMG
STCE	+ 0.0	IPMG

High negative correlations

PRPRF	- 0.7	FSISX
PRPRF	- 0.67	MSUMX
PRPRF	- 0.63	STCE
PRPRF	- 0.0	IPMG
STCE	- 0.0	IPMG
FSISX	- 0.0	IPMG

Principal Spectrum Constituents Risk-Adjusted Indicators

There is a big difference between Principal Etf performing well and Principal Spectrum ETF 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 Principal Spectrum'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
MSUMX	0.16	0.01	(1.08)	0.68	0.00	(0.22)	0.34	(0.23)	1.01
IPMG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FSISX	0.45	0.24	0.02	6.70	0.00	(0.57)	1.06	(0.73)	2.49
STCE	2.40	0.53	0.33	0.50	1.65	(3.05)	6.01	(3.57)	13.97
PRPRF	3.49	0.11	(0.02)	(0.64)	4.47	(8.33)	10.53	(10.80)	30.73

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