Parnassus Funds Correlations

Mutual Funds . USA . 
Fund . Parnassus Funds
PFGEX Fund   24.27  0.02  0.08%   
The current 90-days correlation between Parnassus Funds and Intal High Relative is 0.62 (i.e., Poor diversification). The correlation of Parnassus Funds 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.

Parnassus Funds Correlation With Market

Poor diversification

The correlation between Parnassus Funds and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parnassus Funds 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 Parnassus Funds . 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 income.

Moving together with Parnassus Mutual Fund

  1.0PFPGX Parnassus FundsPairCorr
  0.97PFPRX Parnassus Fund InstPairCorr
  0.87PFPMX Parnassus Mid CapPairCorr
  0.85PFPWX Parnassus EndeavorPairCorr
  0.89PRBLX Parnassus E EquityPairCorr
  0.89PRILX Parnassus Equity IncmePairCorr
  0.87PARMX Parnassus Mid CapPairCorr
  0.97PARNX Parnassus Fund InvestorPairCorr
  0.85PARWX Parnassus EndeavorPairCorr
  0.93FAFGX American FundsPairCorr
  0.93FFAFX American FundsPairCorr
  0.91GFACX Growth FundPairCorr
  0.85GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  0.93CGFFX Growth FundPairCorr
  0.91CGFCX Growth FundPairCorr
  0.85CGFAX Growth FundPairCorr
  0.92CGFEX Growth FundPairCorr
  0.93RGAEX Growth FundPairCorr

Moving against Parnassus Mutual Fund

  0.55PFPLX Parnassus Fixed IncomePairCorr
  0.54PRFIX Parnassus Fixed IncomePairCorr
  0.64ACCOX International ValuePairCorr
  0.6JDFNX Janus Flexible BondPairCorr
  0.59SMCHX Alpssmith Total ReturnPairCorr
  0.58PRAPX Pimco Total ReturnPairCorr
  0.53BORIX Collegeadvantage 529PairCorr
  0.5LIFAX Lord Abbett InflationPairCorr
  0.44ISD Pgim High YieldPairCorr
  0.34NHS Neuberger Berman HighPairCorr
  0.34MINHX Mfs International ValuePairCorr
  0.32HFHCX Hartford FloatingPairCorr
  0.31LAIIX Lord Abbett IntermediatePairCorr
  0.93RYARX Inverse Sp 500PairCorr
  0.69HIO Western Asset HighPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Parnassus Mutual Fund performing well and Parnassus Funds 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 Parnassus Funds' 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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY