Polen Smid Correlations

PBMIX Fund

USD 8.79 0.05 0.57%

The current 90-days correlation between Polen Smid and Oklahoma Municipal Fund is 0.1 (i.e., Average diversification). The correlation of Polen Smid 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.

Polen Smid Correlation With Market

Significant diversification

The correlation between Polen Smid and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polen Smid 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 Polen Smid. 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 gross domestic product.

Moving together with Polen Mutual Fund

0.91	PGIIX	Polen Global Growth	Pair Corr
0.91	PGIRX	Polen Global Growth	Pair Corr
0.91	POLIX	Polen Growth	Pair Corr
0.91	POLRX	Polen Growth	Pair Corr
0.73	DDJRX	Ddj Opportunistic High	Pair Corr
0.83	DDJIX	Ddj Opportunistic High	Pair Corr
0.83	PBBIX	Fundvantage Trust	Pair Corr
0.91	PBSIX	Polen Small Pany	Pair Corr
0.91	PBSRX	Polen Small	Pair Corr
0.91	PBSYX	Polen Small	Pair Corr
0.86	PAMCX	T Rowe Price	Pair Corr
0.86	RRMGX	T Rowe Price	Pair Corr
0.87	TRQZX	T Rowe Price	Pair Corr
0.91	RPMGX	T Rowe Price	Pair Corr
0.93	PRJIX	T Rowe Price	Pair Corr
0.87	PRNHX	T Rowe Price	Pair Corr
0.88	TRUZX	T Rowe Price Potential Growth	Pair Corr
0.9	PCBIX	Midcap Fund Institutional	Pair Corr
0.94	PEMGX	Midcap Fund Class	Pair Corr
0.94	PMBCX	Midcap Fund Class	Pair Corr
0.74	FSMMX	Fs Multi Strategy	Pair Corr
0.89	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.89	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.89	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.89	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.91	VIGAX	Vanguard Growth Index	Pair Corr
0.65	MDCPX	Blackrock Bal Cap	Pair Corr
0.92	VFINX	Vanguard 500 Index	Pair Corr
0.85	FLCNX	Fidelity Contrafund	Pair Corr

Moving against Polen Mutual Fund

0.38	POIIX	Polen International	Pair Corr
0.37	POIRX	Polen International	Pair Corr
0.67	BTMPX	Ishares Msci Eafe	Pair Corr
0.67	BTMKX	Blackrock International	Pair Corr
0.67	MDIIX	Blackrock Intern Index	Pair Corr

Related Correlations Analysis

	OKMUX	OWMBX	PCMNX	ABIMX	BSNSX	ICAXX	TMNIX
OKMUX		0.9	0.89	0.98	0.94	0.0	0.88	OKMUX
OWMBX	0.9		0.99	0.88	0.85	0.0	0.94	OWMBX
PCMNX	0.89	0.99		0.89	0.86	0.0	0.97	PCMNX
ABIMX	0.98	0.88	0.89		0.97	0.0	0.89	ABIMX
BSNSX	0.94	0.85	0.86	0.97		0.0	0.88	BSNSX
ICAXX	0.0	0.0	0.0	0.0	0.0		0.0	ICAXX
TMNIX	0.88	0.94	0.97	0.89	0.88	0.0		TMNIX
	OKMUX	OWMBX	PCMNX	ABIMX	BSNSX	ICAXX	TMNIX

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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

PCMNX	+ 0.99	OWMBX
ABIMX	+ 0.98	OKMUX
TMNIX	+ 0.97	PCMNX
BSNSX	+ 0.97	ABIMX
BSNSX	+ 0.94	OKMUX
TMNIX	+ 0.94	OWMBX

High negative correlations

TMNIX	- 0.0	ICAXX
ICAXX	- 0.0	BSNSX
ICAXX	- 0.0	ABIMX
ICAXX	- 0.0	PCMNX
ICAXX	- 0.0	OWMBX
ICAXX	- 0.0	OKMUX

Risk-Adjusted Indicators

There is a big difference between Polen Mutual Fund performing well and Polen Smid 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 Polen Smid'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
OKMUX	0.15	0.00	(0.25)	0.08	0.24	(0.27)	0.29	(0.47)	1.52
OWMBX	0.11	(0.01)	(0.49)	(0.14)	0.15	(0.16)	0.26	(0.26)	0.87
PCMNX	0.12	(0.01)	(0.37)	(0.09)	0.18	(0.16)	0.25	(0.25)	1.07
ABIMX	0.18	0.01	(0.28)	0.04	0.30	(0.22)	0.40	(0.50)	1.73
BSNSX	0.08	0.01	(0.39)	(0.01)	0.09	(0.14)	0.20	(0.29)	0.88
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TMNIX	0.15	(0.01)	(0.25)	0.04	0.24	(0.21)	0.37	(0.36)	1.65

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