Provident Trust Correlations

PROVX Fund

USD 20.96 0.21 1.01%

The current 90-days correlation between Provident Trust Strategy and Mfs Global Alternative is -0.05 (i.e., Good diversification). The correlation of Provident Trust 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.

Provident Trust Correlation With Market

Poor diversification

The correlation between Provident Trust Strategy and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Provident Trust Strategy 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 Provident Trust Strategy. 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 unemployment.

Moving together with Provident Mutual Fund

0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.82	VFIAX	Vanguard 500 Index	Pair Corr
0.82	VTSMX	Vanguard Total Stock	Pair Corr
0.82	VITSX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.82	VFINX	Vanguard 500 Index	Pair Corr
0.75	VFFSX	Vanguard 500 Index	Pair Corr
0.82	VINIX	Vanguard Institutional	Pair Corr
0.82	VIIIX	Vanguard Institutional	Pair Corr
0.8	FTYPX	Fidelity Freedom Index	Pair Corr
0.81	FFBTX	Fidelity Freedom Blend	Pair Corr
0.86	GCAVX	Gmo Small Cap	Pair Corr
0.74	GQLOX	Gmo Quality Fund	Pair Corr
0.82	GHVIX	Gmo High Yield	Pair Corr
0.82	GMCQX	Gmo Equity Allocation	Pair Corr
0.82	OMSNX	Oppenheimer Main	Pair Corr
0.82	RFNGX	American Funds Funda	Pair Corr
0.81	RDDTX	American Funds 2025	Pair Corr
0.85	FPQIX	Fidelity Advisor 529	Pair Corr
0.75	LBISX	Legg Mason Bw	Pair Corr
0.77	ABALX	American Balanced	Pair Corr
0.82	STIRX	Pioneer Strategic Income	Pair Corr
0.62	RLIEX	Lazard International	Pair Corr
0.81	FACEX	Frost Growth Equity	Pair Corr
0.77	SEBLX	Sentinel Balanced	Pair Corr
0.82	VFTAX	Vanguard Ftse Social	Pair Corr
0.71	CTHCX	Columbia Global Tech	Pair Corr
0.75	NOCBX	Northern E Bond	Pair Corr
0.68	PCNTX	Putnam Convertible	Pair Corr
0.76	EXBAX	Pro-blend(r) Moderate	Pair Corr
0.83	RELRX	Equity Growth Strategy	Pair Corr
0.74	PAXIX	Pax Balanced	Pair Corr
0.82	SSEYX	State Street Equity	Pair Corr
0.79	ETAGX	Eventide Gilead	Pair Corr

Related Correlations Analysis

	DVRAX	THPGX	SILVX	ARTHX	FLDOX	RMCFX	FT	MENYX	SDVSX	NWGPX
DVRAX		0.77	0.67	0.81	0.78	0.5	0.37	0.05	0.78	-0.4	DVRAX
THPGX	0.77		0.8	0.85	0.93	0.74	0.64	-0.02	0.9	-0.52	THPGX
SILVX	0.67	0.8		0.67	0.74	0.39	0.72	0.11	0.78	-0.46	SILVX
ARTHX	0.81	0.85	0.67		0.81	0.59	0.47	-0.05	0.84	-0.52	ARTHX
FLDOX	0.78	0.93	0.74	0.81		0.63	0.7	-0.17	0.97	-0.65	FLDOX
RMCFX	0.5	0.74	0.39	0.59	0.63		0.31	0.34	0.51	-0.02	RMCFX
FT	0.37	0.64	0.72	0.47	0.7	0.31		-0.11	0.74	-0.68	FT
MENYX	0.05	-0.02	0.11	-0.05	-0.17	0.34	-0.11		-0.2	0.58	MENYX
SDVSX	0.78	0.9	0.78	0.84	0.97	0.51	0.74	-0.2		-0.72	SDVSX
NWGPX	-0.4	-0.52	-0.46	-0.52	-0.65	-0.02	-0.68	0.58	-0.72		NWGPX
	DVRAX	THPGX	SILVX	ARTHX	FLDOX	RMCFX	FT	MENYX	SDVSX	NWGPX

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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

SDVSX	+ 0.97	FLDOX
FLDOX	+ 0.93	THPGX
SDVSX	+ 0.9	THPGX
ARTHX	+ 0.85	THPGX
SDVSX	+ 0.84	ARTHX
ARTHX	+ 0.81	DVRAX

High negative correlations

NWGPX	- 0.72	SDVSX
NWGPX	- 0.68	FT
NWGPX	- 0.65	FLDOX
NWGPX	- 0.52	ARTHX
NWGPX	- 0.52	THPGX
NWGPX	- 0.46	SILVX

Risk-Adjusted Indicators

There is a big difference between Provident Mutual Fund performing well and Provident Trust 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 Provident Trust'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
DVRAX	0.13	0.00	(0.16)	(0.12)	0.16	(0.16)	0.28	(0.28)	1.06
THPGX	0.56	0.04	0.05	0.07	0.70	(0.58)	1.36	(0.98)	4.73
SILVX	0.36	0.02	0.00	0.06	0.47	(0.38)	0.87	(0.97)	2.55
ARTHX	0.60	0.00	(0.02)	0.03	0.79	(0.65)	1.37	(1.07)	5.33
FLDOX	0.31	0.03	0.00	4.16	0.35	(0.32)	0.69	(0.53)	2.33
RMCFX	1.10	(0.06)	(0.03)	0.00	1.39	(1.26)	2.69	(2.56)	8.22
FT	0.45	0.02	(0.01)	0.27	0.53	(0.48)	0.90	(1.02)	2.38
MENYX	0.40	(0.03)	0.00	(0.04)	0.00	0.00	1.07	(0.63)	3.38
SDVSX	0.42	0.05	0.03	0.68	0.53	(0.44)	0.90	(0.73)	3.18
NWGPX	0.86	(0.14)	0.00	(0.09)	0.00	0.00	1.93	(1.61)	6.16

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