Strategic Asset Correlations

Mutual Funds . USA . 
Fund . Strategic Asset Management
PFIJX Fund  USD 12.01  0.04  0.33%   
The current 90-days correlation between Strategic Asset Mana and Western Asset High is 0.7 (i.e., Poor diversification). The correlation of Strategic Asset 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.

Strategic Asset Correlation With Market

Poor diversification

The correlation between Strategic Asset Management 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 Strategic Asset Management 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 Strategic Asset Management. 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 inflation.

Moving together with Strategic Mutual Fund

  0.63SABPX Strategic Asset ManaPairCorr
  0.81PFIEX International EquityPairCorr
  1.0PFIFX Strategic Asset ManaPairCorr
  0.77PFISX International Small PanyPairCorr
  1.0PFIPX Strategic Asset ManaPairCorr
  0.88SAIPX Strategic Asset ManaPairCorr
  0.62PFLJX Principal Lifetime 2050PairCorr
  0.86PFRSX Real Estate SecuritiesPairCorr
  0.92SAUPX Strategic Asset ManaPairCorr
  0.75PFUMX Finisterre UnconstrainedPairCorr
  0.83PGBAX Global Diversified IncomePairCorr
  0.78PGBLX Global Diversified IncomePairCorr
  0.79PGDCX Global Diversified IncomePairCorr
  0.79PGDIX Global Diversified IncomePairCorr
  0.68PGDRX Diversified Real AssetPairCorr
  0.78PGLSX Global Multi StrategyPairCorr
  0.95PGRUX Global Real EstatePairCorr
  0.94PGRKX Global Real EstatePairCorr
  0.86SCIPX Strategic Asset ManaPairCorr
  0.67PHJEX Principal Lifetime HybridPairCorr
  0.9PHJFX Principal Lifetime HybridPairCorr
  0.82PHJNX Principal Lifetime HybridPairCorr
  0.8PHJQX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Strategic Mutual Fund performing well and Strategic Asset 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 Strategic Asset'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.

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