Principal Lifetime Correlations

Mutual Funds . USA . 
Fund . Principal Lifetime 2020
PTBAX Fund  USD 12.95  0.03  0.23%   
The current 90-days correlation between Principal Lifetime 2020 and Mainstay Conservative Allocation is 0.93 (i.e., Almost no diversification). The correlation of Principal Lifetime 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.

Principal Lifetime Correlation With Market

Very poor diversification

The correlation between Principal Lifetime 2020 and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Principal Lifetime 2020 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 Principal Lifetime 2020. 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 nation.

Moving together with Principal Mutual Fund

  0.99SABPX Strategic Asset ManaPairCorr
  0.99SACAX Strategic Asset ManaPairCorr
  0.66PFIJX Strategic Asset ManaPairCorr
  0.99PFIFX Strategic Asset ManaPairCorr
  0.68PFIPX Strategic Asset ManaPairCorr
  0.99PFLJX Principal Lifetime 2050PairCorr
  0.98PFPPX Midcap GrowthPairCorr
  0.99SAUPX Strategic Asset ManaPairCorr
  0.98PFUMX Finisterre UnconstrainedPairCorr
  0.66PGBAX Global Diversified IncomePairCorr
  0.98PGBLX Global Diversified IncomePairCorr
  0.97PGBEX Blue Chip FundPairCorr
  0.97PGBGX Blue Chip FundPairCorr
  0.98PGBHX Blue Chip FundPairCorr
  0.87PGDCX Global Diversified IncomePairCorr
  0.98PGDIX Global Diversified IncomePairCorr
  0.99PGLSX Global Multi StrategyPairCorr
  0.7STCCX Short Term IncomePairCorr
  0.64PGRUX Global Real EstatePairCorr
  0.63PGRKX Global Real EstatePairCorr
  0.98PGWIX Midcap GrowthPairCorr
  1.0SCIPX Strategic Asset ManaPairCorr
  0.89SCGPX Strategic Asset ManaPairCorr
  0.99PHJEX Principal Lifetime HybridPairCorr
  1.0PHJFX Principal Lifetime HybridPairCorr
  0.99PHJGX Principal Lifetime HybridPairCorr
  0.99PHJBX Principal Lifetime HybridPairCorr
  0.89PHJDX Principal Lifetime HybridPairCorr
  1.0PHJNX Principal Lifetime HybridPairCorr
  1.0PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Principal Mutual Fund performing well and Principal Lifetime 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 Principal Lifetime'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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