Smallcap Growth Correlations

PGRTX Fund

USD 14.03 0.42 3.09%

The current 90-days correlation between Smallcap Growth and Qs Small Capitalization is 0.95 (i.e., Almost no diversification). The correlation of Smallcap Growth 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.

Smallcap Growth Correlation With Market

Good diversification

The correlation between Smallcap Growth Fund and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap Growth 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 Smallcap Growth 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 estimate.

Moving together with Smallcap Mutual Fund

0.73	SACAX	Strategic Asset Mana	Pair Corr
0.61	PFLJX	Principal Lifetime 2050	Pair Corr
0.93	PFPPX	Midcap Growth	Pair Corr
0.84	PGBEX	Blue Chip Fund	Pair Corr
0.93	PGBGX	Blue Chip Fund	Pair Corr
0.85	PGBHX	Blue Chip Fund	Pair Corr
0.92	PGWIX	Midcap Growth	Pair Corr
0.62	SCBPX	Strategic Asset Mana	Pair Corr
0.62	SCGPX	Strategic Asset Mana	Pair Corr
0.61	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.7	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.7	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.7	PHJDX	Principal Lifetime Hybrid	Pair Corr

Moving against Smallcap Mutual Fund

0.64	PFIEX	International Equity	Pair Corr
0.62	PGBLX	Global Diversified Income	Pair Corr
0.61	PFISX	International Small Pany	Pair Corr
0.61	PFUMX	Finisterre Unconstrained	Pair Corr
0.53	PGBAX	Global Diversified Income	Pair Corr
0.38	PFRSX	Real Estate Securities	Pair Corr
0.75	STCCX	Short Term Income	Pair Corr
0.68	PYHIX	High Yield Fund	Pair Corr
0.64	PGSLX	Principal Global Sus	Pair Corr
0.62	PGDCX	Global Diversified Income	Pair Corr
0.61	PGDIX	Global Diversified Income	Pair Corr
0.4	PHSPX	Pimco High Yield	Pair Corr

Related Correlations Analysis

	LMBMX	ARTSX	OWSMX	VSFSX	ANTMX	GLVIX	DFUKX	QUAZX
LMBMX		0.86	0.73	0.76	0.34	0.75	-0.29	0.99	LMBMX
ARTSX	0.86		0.67	0.91	0.44	0.67	-0.21	0.85	ARTSX
OWSMX	0.73	0.67		0.67	0.74	0.91	0.22	0.66	OWSMX
VSFSX	0.76	0.91	0.67		0.47	0.72	-0.09	0.73	VSFSX
ANTMX	0.34	0.44	0.74	0.47		0.72	0.65	0.25	ANTMX
GLVIX	0.75	0.67	0.91	0.72	0.72		0.17	0.67	GLVIX
DFUKX	-0.29	-0.21	0.22	-0.09	0.65	0.17		-0.38	DFUKX
QUAZX	0.99	0.85	0.66	0.73	0.25	0.67	-0.38		QUAZX
	LMBMX	ARTSX	OWSMX	VSFSX	ANTMX	GLVIX	DFUKX	QUAZX

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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

QUAZX	+ 0.99	LMBMX
VSFSX	+ 0.91	ARTSX
GLVIX	+ 0.91	OWSMX
ARTSX	+ 0.86	LMBMX
QUAZX	+ 0.85	ARTSX
VSFSX	+ 0.76	LMBMX

High negative correlations

QUAZX	- 0.38	DFUKX
DFUKX	- 0.29	LMBMX
DFUKX	- 0.21	ARTSX
DFUKX	- 0.09	VSFSX

Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap Growth 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 Smallcap Growth'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
LMBMX	0.99	(0.11)	0.00	0.87	0.00	0.00	2.03	(1.99)	5.60
ARTSX	1.18	(0.09)	0.00	(0.12)	0.00	0.00	2.24	(3.17)	5.69
OWSMX	0.61	0.00	0.04	0.12	0.74	(0.68)	1.19	(1.33)	3.89
VSFSX	0.87	(0.16)	0.00	1.54	0.00	0.00	1.48	(2.07)	5.18
ANTMX	0.72	0.04	0.05	0.02	0.96	(0.80)	1.48	(1.52)	5.64
GLVIX	0.90	(0.04)	0.00	0.93	0.00	0.00	1.52	(2.01)	5.60
DFUKX	0.80	0.04	0.04	0.02	1.16	(0.75)	1.96	(1.50)	6.05
QUAZX	1.30	(0.17)	0.00	1.03	0.00	0.00	2.31	(3.20)	6.73

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