Principal Capital Correlations

CMNWX Fund

USD 76.89 1.34 1.77%

The current 90-days correlation between Principal Capital and Equity Income Fund is 0.15 (i.e., Average diversification). The correlation of Principal Capital 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 Capital Correlation With Market

Very weak diversification

The correlation between Principal Capital Appreciation and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Principal Capital Appreciation and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Principal Capital Appreciation. 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 housing.

Moving together with Principal Mutual Fund

0.77	SABPX	Strategic Asset Mana	Pair Corr
0.87	SACAX	Strategic Asset Mana	Pair Corr
0.75	SAGPX	Strategic Asset Mana	Pair Corr
0.79	PFLJX	Principal Lifetime 2050	Pair Corr
0.94	PFPPX	Midcap Growth	Pair Corr
0.94	PGBEX	Blue Chip Fund	Pair Corr
0.94	PGBGX	Blue Chip Fund	Pair Corr
0.94	PGBHX	Blue Chip Fund	Pair Corr
0.96	PGRTX	Smallcap Growth	Pair Corr
0.94	PGWIX	Midcap Growth	Pair Corr
0.79	SCBPX	Strategic Asset Mana	Pair Corr
0.85	SCGPX	Strategic Asset Mana	Pair Corr
0.74	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.81	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.81	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.81	PHJDX	Principal Lifetime Hybrid	Pair Corr

Moving against Principal Mutual Fund

0.47	PFISX	International Small Pany	Pair Corr
0.47	PFUMX	Finisterre Unconstrained	Pair Corr
0.46	PFIEX	International Equity	Pair Corr
0.43	PGBLX	Global Diversified Income	Pair Corr
0.39	PGBAX	Global Diversified Income	Pair Corr
0.71	PYHIX	High Yield Fund	Pair Corr
0.6	STCCX	Short Term Income	Pair Corr
0.43	PGDCX	Global Diversified Income	Pair Corr
0.42	PGDIX	Global Diversified Income	Pair Corr
0.37	PGSLX	Principal Global Sus	Pair Corr

Related Correlations Analysis

	PQIAX	PRWLX	SACAX	CMPIX	SABPX
PQIAX		0.27	0.75	0.11	0.74	PQIAX
PRWLX	0.27		0.07	0.84	0.2	PRWLX
SACAX	0.75	0.07		-0.1	0.98	SACAX
CMPIX	0.11	0.84	-0.1		0.07	CMPIX
SABPX	0.74	0.2	0.98	0.07		SABPX
	PQIAX	PRWLX	SACAX	CMPIX	SABPX

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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

SABPX	+ 0.98	SACAX
CMPIX	+ 0.84	PRWLX
SACAX	+ 0.75	PQIAX
SABPX	+ 0.74	PQIAX
PRWLX	+ 0.27	PQIAX
SABPX	+ 0.2	PRWLX

High negative correlations

CMPIX

- 0.1

SACAX

Risk-Adjusted Indicators

There is a big difference between Principal Mutual Fund performing well and Principal Capital 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 Capital'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
PQIAX	0.66	(0.07)	0.00	0.46	0.00	0.00	1.14	(1.65)	3.17
PRWLX	0.72	0.08	0.09	0.12	0.96	(0.73)	1.37	(1.63)	5.68
SACAX	0.79	(0.11)	0.00	(0.20)	0.00	0.00	1.31	(1.52)	5.93
CMPIX	0.25	0.01	0.12	0.22	0.25	(0.30)	0.58	(0.48)	1.32
SABPX	0.57	(0.08)	0.00	(0.23)	0.00	0.00	0.85	(1.18)	4.92

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