Mairs Power Correlations

MAPOX Fund  USD 108.97  0.21  0.19%   
The current 90-days correlation between Mairs Power Balanced and Mairs Power Growth is 0.82 (i.e., Very poor diversification). The correlation of Mairs Power 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.

Mairs Power Correlation With Market

Poor diversification

The correlation between Mairs Power Balanced and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mairs Power Balanced and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mairs Power Balanced. 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 persons.

Moving together with Mairs Mutual Fund

  0.74MPGFX Mairs Power GrowthPairCorr
  0.88FBONX American Funds AmericanPairCorr
  0.88FBAFX American Funds AmericanPairCorr
  0.89ABALX American BalancedPairCorr
  0.88BALCX American BalancedPairCorr
  0.94BALFX American BalancedPairCorr
  0.89RLBCX American BalancedPairCorr
  0.88RLBBX American BalancedPairCorr
  0.89CLBAX American BalancedPairCorr
  0.89CLBEX American BalancedPairCorr
  0.9RLBFX American BalancedPairCorr
  0.81PGLSX Global Multi StrategyPairCorr
  0.8HWACX Hotchkis Wiley ValuePairCorr
  0.78RXRPX American Funds RetirementPairCorr
  0.79RNCIX Rivernorth E OpportunityPairCorr

Moving against Mairs Mutual Fund

  0.66USPSX Profunds UltrashortPairCorr
  0.65USPIX Profunds UltrashortPairCorr
  0.61UIPIX Ultrashort Mid CapPairCorr
  0.46TDKTX Cleartrack 2015 ClassPairCorr
  0.46TCTJX Transamerica CleartrackPairCorr
  0.45TCTGX Transamerica CleartrackPairCorr
  0.41TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

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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   
MSCFXMPGFX
BRUFXBERIX
FPACXBERIX
FPACXMPGFX
BRUFXFPACX
FPACXMSCFX
  
High negative correlations   
BERIXMSCFX
BRUFXMSCFX
BERIXMPGFX
BRUFXMPGFX

Risk-Adjusted Indicators

There is a big difference between Mairs Mutual Fund performing well and Mairs Power 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 Mairs Power'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.