Gnma Fund Correlations

PCGNX Fund

USD 9.16 0.01 0.11%

The current 90-days correlation between Gnma Fund C and Allianzgi Convertible Income is 0.19 (i.e., Average diversification). The correlation of Gnma Fund 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.

Gnma Fund Correlation With Market

Weak diversification

The correlation between Gnma Fund C and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gnma Fund C 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 Gnma Fund C. 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 board of governors.

Moving together with Gnma Mutual Fund

0.85	VFIJX	Vanguard Gnma	Pair Corr
0.93	VSIGX	Vanguard Intermediate-ter	Pair Corr
0.95	UGSFX	Us Government Securities	Pair Corr
0.95	AMUSX	Us Government Securities	Pair Corr
0.95	FSUGX	American Funds Government	Pair Corr
0.95	UGSCX	Us Government Securities	Pair Corr
0.95	FSUUX	American Funds Government	Pair Corr
0.98	VMBSX	Vanguard Mortgage	Pair Corr
0.98	VFIIX	Vanguard Gnma	Pair Corr
0.96	FUTBX	Fidelity Sai Treasury	Pair Corr
0.79	RMQAX	Monthly Rebalance Steady Growth	Pair Corr
0.79	RMQHX	Monthly Rebalance Steady Growth	Pair Corr
0.75	GSWPX	Goldman Sachs Smallmid	Pair Corr
0.75	HD	Home Depot	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr

Moving against Gnma Mutual Fund

0.34

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Pair Corr

Related Correlations Analysis

	XNCVX	VAADX	XNCZX	PCNTX	XAVKX	NCIDX
XNCVX		0.96	0.93	0.98	0.84	0.94	XNCVX
VAADX	0.96		0.96	0.95	0.74	0.99	VAADX
XNCZX	0.93	0.96		0.94	0.73	0.95	XNCZX
PCNTX	0.98	0.95	0.94		0.84	0.96	PCNTX
XAVKX	0.84	0.74	0.73	0.84		0.78	XAVKX
NCIDX	0.94	0.99	0.95	0.96	0.78		NCIDX
	XNCVX	VAADX	XNCZX	PCNTX	XAVKX	NCIDX

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Risk-Adjusted Indicators

There is a big difference between Gnma Mutual Fund performing well and Gnma Fund 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 Gnma Fund'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
XNCVX	0.61	0.04	0.02	0.82	0.75	(0.72)	1.29	(1.03)	4.08
VAADX	0.58	0.08	0.07	0.85	0.62	(0.67)	1.19	(0.97)	4.02
XNCZX	0.65	0.08	0.06	0.22	0.74	(0.81)	1.20	(1.16)	4.04
PCNTX	0.49	0.05	0.04	0.51	0.56	(0.57)	1.05	(0.92)	3.52
XAVKX	0.53	(0.02)	0.00	(0.10)	0.00	0.00	0.90	(1.13)	3.58
NCIDX	0.48	0.07	0.07	0.80	0.53	(0.53)	1.03	(0.76)	3.30

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