Midcap Value Correlations

PABVX Fund

USD 15.04 0.05 0.33%

The current 90-days correlation between Midcap Value and Upright Growth Income is 0.26 (i.e., Modest diversification). The correlation of Midcap Value 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.

Midcap Value Correlation With Market

Average diversification

The correlation between Midcap Value Fund and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Value Fund 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 Midcap Value Fund. 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 real.

Moving together with Midcap Mutual Fund

0.88	SABPX	Strategic Asset Mana	Pair Corr
0.88	SACAX	Strategic Asset Mana	Pair Corr
0.9	SAGPX	Strategic Asset Mana	Pair Corr
0.83	PFLJX	Principal Lifetime 2050	Pair Corr
0.8	PGRTX	Smallcap Growth	Pair Corr
0.9	SCBPX	Strategic Asset Mana	Pair Corr
0.92	SCGPX	Strategic Asset Mana	Pair Corr

Moving against Midcap Mutual Fund

0.34	PFUMX	Finisterre Unconstrained	Pair Corr
0.52	PYHIX	High Yield Fund	Pair Corr
0.38	STCCX	Short Term Income	Pair Corr

Related Correlations Analysis

	UPDDX	EIPIX	LMLRX	GCIGX	MSSGX	BGGKX	NSBCX
UPDDX		0.37	0.69	-0.03	0.83	0.89	0.83	UPDDX
EIPIX	0.37		0.67	0.44	0.12	0.26	0.37	EIPIX
LMLRX	0.69	0.67		0.59	0.42	0.69	0.74	LMLRX
GCIGX	-0.03	0.44	0.59		-0.23	0.03	0.16	GCIGX
MSSGX	0.83	0.12	0.42	-0.23		0.9	0.78	MSSGX
BGGKX	0.89	0.26	0.69	0.03	0.9		0.87	BGGKX
NSBCX	0.83	0.37	0.74	0.16	0.78	0.87		NSBCX
	UPDDX	EIPIX	LMLRX	GCIGX	MSSGX	BGGKX	NSBCX

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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

BGGKX	+ 0.9	MSSGX
BGGKX	+ 0.89	UPDDX
NSBCX	+ 0.87	BGGKX
MSSGX	+ 0.83	UPDDX
NSBCX	+ 0.83	UPDDX
NSBCX	+ 0.78	MSSGX

High negative correlations

MSSGX	- 0.23	GCIGX
GCIGX	- 0.03	UPDDX

Risk-Adjusted Indicators

There is a big difference between Midcap Mutual Fund performing well and Midcap Value 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 Midcap Value'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
UPDDX	2.00	(0.01)	(0.07)	3.22	(5.01)	15.30
EIPIX	0.84	0.01	(0.04)	1.68	(1.72)	7.26
LMLRX	0.33	0.01	(0.05)	0.61	(0.69)	2.17
GCIGX	0.81	0.02	(0.03)	1.83	(2.11)	6.40
MSSGX	1.79	(0.09)	(0.14)	3.70	(3.91)	10.50
BGGKX	1.54	(0.08)	(0.13)	2.77	(4.38)	8.15
NSBCX	0.74	(0.11)	(0.21)	1.03	(1.54)	5.00

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