Rational/pier Correlations

PBXAX Fund

USD 11.05 0.02 0.18%

The current 90-days correlation between Rationalpier 88 Conv and Stringer Growth Fund is 0.81 (i.e., Very poor diversification). The correlation of Rational/pier 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.

Rational/pier Correlation With Market

Poor diversification

The correlation between Rationalpier 88 Convertible and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rationalpier 88 Convertible 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 Rationalpier 88 Convertible. 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 Rational/pier Mutual Fund

0.94	RNECX	Rationalrgn Hedged Equity	Pair Corr
0.94	RNEAX	Rationalrgn Hedged Equity	Pair Corr
0.94	RNEIX	Rationalrgn Hedged Equity	Pair Corr
0.84	RDMAX	Rational Dynamic Momentum	Pair Corr
0.87	RDMIX	Rational Dynamic Momentum	Pair Corr
0.87	RDMCX	Rational Dynamic Momentum	Pair Corr
0.85	RHSAX	Rational Strategic	Pair Corr
0.9	RHSIX	Rational Strategic	Pair Corr
0.87	RHSCX	Rational Strategic	Pair Corr
0.9	HSUAX	Rational Defensive Growth	Pair Corr
0.95	HSUCX	Rational Defensive Growth	Pair Corr
0.85	HBAFX	Rational Strategic Steady Growth	Pair Corr
0.9	HSUTX	Rational Defensive Growth	Pair Corr
0.88	HDCAX	Rational Dividend Capture	Pair Corr
0.94	HDCEX	Rational Dividend Capture	Pair Corr
0.93	HDCTX	Rational Dividend Capture	Pair Corr
0.9	PBXIX	Rationalpier 88 Conv	Pair Corr
0.94	PBXCX	Rationalpier 88 Conv	Pair Corr
0.97	FCSZX	Franklin Convertible	Pair Corr
0.97	FCSKX	Franklin Vertible	Pair Corr
0.97	FISCX	Franklin Convertible	Pair Corr
0.97	FROTX	Franklin Convertible	Pair Corr
0.92	ANZCX	Allianzgi Convertible	Pair Corr
0.93	ANZAX	Allianzgi Vertible	Pair Corr
0.93	ANNPX	Allianzgi Convertible	Pair Corr
0.84	VAADX	Virtus Convertible	Pair Corr
0.91	FCVSX	Fidelity Vertible	Pair Corr

Moving against Rational/pier Mutual Fund

0.48	RFXIX	Rational Special Sit	Pair Corr
0.46	RFXCX	Rational Special Sit	Pair Corr
0.46	RFXAX	Rational Special Sit	Pair Corr
0.44	HRSTX	Rational Real Strategies	Pair Corr
0.44	HRSAX	Rational Real Strategies	Pair Corr
0.43	MCSVX	Mainstay Vertible	Pair Corr
0.37	PCCRX	Pimco Credit Absolute	Pair Corr
0.33	RGVCX	Us Government Securities	Pair Corr

Related Correlations Analysis

	SRGAX	PAGLX	TEGAX	FGTZX	LMLRX	VDIGX	ARTSX	EIPIX
SRGAX		0.9	0.8	0.99	0.93	0.57	0.61	0.51	SRGAX
PAGLX	0.9		0.96	0.93	0.74	0.42	0.84	0.31	PAGLX
TEGAX	0.8	0.96		0.82	0.59	0.27	0.88	0.2	TEGAX
FGTZX	0.99	0.93	0.82		0.92	0.59	0.66	0.48	FGTZX
LMLRX	0.93	0.74	0.59	0.92		0.67	0.4	0.65	LMLRX
VDIGX	0.57	0.42	0.27	0.59	0.67		0.3	0.11	VDIGX
ARTSX	0.61	0.84	0.88	0.66	0.4	0.3		0.0	ARTSX
EIPIX	0.51	0.31	0.2	0.48	0.65	0.11	0.0		EIPIX
	SRGAX	PAGLX	TEGAX	FGTZX	LMLRX	VDIGX	ARTSX	EIPIX

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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

FGTZX	+ 0.99	SRGAX
TEGAX	+ 0.96	PAGLX
LMLRX	+ 0.93	SRGAX
FGTZX	+ 0.93	PAGLX
LMLRX	+ 0.92	FGTZX
PAGLX	+ 0.9	SRGAX

High negative correlations

EIPIX

- 0.0

ARTSX

Risk-Adjusted Indicators

There is a big difference between Rational/pier Mutual Fund performing well and Rational/pier 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 Rational/pier'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
SRGAX	0.62	0.01	0.01	0.01	0.83	(0.64)	1.25	(1.45)	3.64
PAGLX	0.74	(0.03)	0.00	(0.03)	0.00	0.00	1.27	(1.58)	4.65
TEGAX	1.37	(0.08)	0.00	(0.06)	0.00	0.00	2.29	(3.45)	7.24
FGTZX	0.59	0.00	0.00	(0.01)	0.79	(0.56)	1.08	(1.19)	3.38
LMLRX	0.31	0.01	0.03	0.03	0.35	(0.34)	0.61	(0.60)	2.17
VDIGX	0.61	(0.04)	0.00	0.21	0.00	0.00	0.95	(1.44)	3.57
ARTSX	1.18	(0.13)	0.00	0.87	0.00	0.00	2.24	(3.17)	5.69
EIPIX	0.71	0.12	0.13	0.22	0.82	(0.74)	1.68	(1.63)	4.24

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