Paradigm Select Correlations

Mutual Funds . USA . 
Fund . Paradigm Select Fund
PFSLX Fund  USD 84.31  0.47  0.55%   
The current 90-days correlation between Paradigm Select and Paradigm Micro Cap Fund is 0.9 (i.e., Almost no diversification). The correlation of Paradigm Select 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.

Paradigm Select Correlation With Market

Very poor diversification

The correlation between Paradigm Select Fund and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paradigm Select Fund 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 Paradigm Select Fund. 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 bureau of economic analysis.

Moving together with Paradigm Mutual Fund

  0.94PVFAX Paradigm ValuePairCorr
  0.83PVIVX Paradigm Micro CapPairCorr
  0.86VIMAX Vanguard Mid CapPairCorr
  0.86VIMSX Vanguard Mid CapPairCorr
  0.86VMCPX Vanguard Mid CapPairCorr
  0.86VMCIX Vanguard Mid CapPairCorr
  0.86VEXAX Vanguard Extended MarketPairCorr
  0.86VEMPX Vanguard Extended MarketPairCorr
  0.86VIEIX Vanguard Extended MarketPairCorr
  0.86VSEMX Vanguard Extended MarketPairCorr
  0.86VEXMX Vanguard Extended MarketPairCorr
  0.86FSMAX Fidelity Extended MarketPairCorr
  0.61WHIYX Ivy High IncomePairCorr
  0.64IVHIX Ivy High IncomePairCorr
  0.64IHIFX Ivy High IncomePairCorr
  0.62WRHIX Ivy High IncomePairCorr
  0.61WHIAX Ivy High IncomePairCorr
  0.74AAAMX American Century OnePairCorr
  0.89VWELX Vanguard WellingtonPairCorr
  0.65LIGYX Loomis Sayles InternPairCorr
  0.85WWLAX Westwood Largecap ValuePairCorr
  0.83SAGAX Ridgeworth InnovativePairCorr
  0.81ILESX Fisher InvestmentsPairCorr
  0.88GAB Gabelli Equity TrustPairCorr
  0.89AMGIX Income GrowthPairCorr
  0.79PGAIX Pimco Global MultiPairCorr
  0.9DFMAX Davidson Multi CapPairCorr
  0.79TLCYX Touchstone Large CapPairCorr
  0.83VFIAX Vanguard 500 IndexPairCorr
  0.8MLMAX Global E PortfolioPairCorr
  0.69HGXVX Hartford Global ImpactPairCorr
  0.83AMGOX Alger Mid CapPairCorr
  0.82AMEIX Equity GrowthPairCorr
  0.86GAPIX Goldman Sachs EquityPairCorr
  0.84VFINX Vanguard 500 IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Paradigm Mutual Fund performing well and Paradigm Select 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 Paradigm Select'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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