Investment Grade Correlations

PGCAX Fund

USD 9.09 0.02 0.22%

The current 90-days correlation between Investment Grade Porate and Rbc Funds Trust is 0.25 (i.e., Modest diversification). The correlation of Investment Grade 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.

Investment Grade Correlation With Market

Average diversification

The correlation between Investment Grade Porate and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Investment Grade Porate 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 Investment Grade Porate. 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 Investment Mutual Fund

0.8	PWLEX	Pimco Rae Worldwide	Pair Corr
0.78	PWLBX	Pimco Rae Worldwide	Pair Corr
0.79	PWLMX	Pimco Rae Worldwide	Pair Corr
0.78	PWLIX	Pimco Rae Worldwide	Pair Corr
0.76	PFBPX	Pimco Foreign Bond	Pair Corr
0.74	PFCJX	Pimco Preferred And	Pair Corr
0.78	PFANX	Pimco Capital Sec	Pair Corr
0.91	PFGAX	Long Term Government	Pair Corr
0.9	PFGCX	Long Term Government	Pair Corr
0.77	PFINX	Pimco Capital Sec	Pair Corr
0.94	PFMIX	Municipal Bond	Pair Corr
0.76	PFONX	Pimco International Bond	Pair Corr
0.76	PFORX	Pimco Foreign Bond	Pair Corr
0.76	PFNNX	Pimco Preferred And	Pair Corr
0.77	PFOAX	Pimco Foreign Bond	Pair Corr
0.8	PFOCX	Pimco Foreign Bond	Pair Corr
0.95	PFRCX	Foreign Bond	Pair Corr
0.75	PFRAX	Pimco Foreign Bond	Pair Corr
0.66	PFRMX	Pimco Inflation Response	Pair Corr
0.76	PFPNX	Pimco Capital Sec	Pair Corr
0.78	PFRRX	Pimco Foreign Bond	Pair Corr
0.8	PFSIX	Pimco Emerging Markets	Pair Corr
0.96	PFUUX	Pimco Foreign Bond	Pair Corr
0.96	PFUAX	Foreign Bond	Pair Corr
0.96	PFUIX	Foreign Bond	Pair Corr
0.96	PFUNX	Pimco International Bond	Pair Corr
0.96	PFUPX	Pimco Foreign Bond	Pair Corr
0.64	PGAPX	Pimco Global Multi	Pair Corr
0.74	PXTIX	Fundamental Indexplus	Pair Corr
0.74	PXTNX	Pimco Rae Plus	Pair Corr
0.63	PGBIX	Global Bond Fund	Pair Corr

Related Correlations Analysis

	REVAX	DODFX	NWCSX	SMNIX	MFIRX	DHGCX	GMADX	RNECX
REVAX		0.88	0.69	-0.23	0.66	0.74	0.77	0.67	REVAX
DODFX	0.88		0.8	-0.2	0.78	0.64	0.82	0.74	DODFX
NWCSX	0.69	0.8		-0.09	0.57	0.65	0.69	0.52	NWCSX
SMNIX	-0.23	-0.2	-0.09		-0.33	-0.25	-0.35	-0.39	SMNIX
MFIRX	0.66	0.78	0.57	-0.33		0.53	0.81	0.69	MFIRX
DHGCX	0.74	0.64	0.65	-0.25	0.53		0.54	0.51	DHGCX
GMADX	0.77	0.82	0.69	-0.35	0.81	0.54		0.8	GMADX
RNECX	0.67	0.74	0.52	-0.39	0.69	0.51	0.8		RNECX
	REVAX	DODFX	NWCSX	SMNIX	MFIRX	DHGCX	GMADX	RNECX

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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

DODFX	+ 0.88	REVAX
GMADX	+ 0.82	DODFX
GMADX	+ 0.81	MFIRX
NWCSX	+ 0.8	DODFX
RNECX	+ 0.8	GMADX
MFIRX	+ 0.78	DODFX

High negative correlations

RNECX	- 0.39	SMNIX
GMADX	- 0.35	SMNIX
MFIRX	- 0.33	SMNIX
DHGCX	- 0.25	SMNIX
SMNIX	- 0.23	REVAX
SMNIX	- 0.2	DODFX

Risk-Adjusted Indicators

There is a big difference between Investment Mutual Fund performing well and Investment Grade 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 Investment Grade'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
REVAX	0.64	0.06	0.06	0.16	0.75	(0.73)	1.28	(1.38)	3.31
DODFX	0.56	0.07	0.09	(0.91)	0.65	(0.61)	1.16	(1.00)	3.37
NWCSX	0.30	0.02	0.04	0.21	0.35	(0.36)	0.68	(0.58)	2.23
SMNIX	0.38	(0.01)	0.00	0.26	0.00	0.00	0.93	(0.81)	1.98
MFIRX	0.11	0.03	0.08	0.62	0.00	(0.21)	0.19	(0.19)	0.76
DHGCX	0.16	0.01	0.03	(0.77)	0.09	(0.22)	0.37	(0.36)	1.10
GMADX	0.61	0.06	0.04	0.12	1.23	(0.61)	1.00	(1.03)	11.02
RNECX	0.62	0.01	0.01	(0.19)	0.81	(0.67)	0.98	(1.25)	3.83

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