Polaris Global Correlations

PGVFX Fund

USD 31.69 0.03 0.09%

The current 90-days correlation between Polaris Global Value and Fidelity Capital Income is 0.49 (i.e., Very weak diversification). The correlation of Polaris Global 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.

Polaris Global Correlation With Market

Modest diversification

The correlation between Polaris Global Value and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polaris Global Value 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 Polaris Global Value. 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 census.

Moving together with Polaris Mutual Fund

0.84	TEDRX	Franklin Mutual Global	Pair Corr
0.84	FMDRX	Franklin Mutual Global	Pair Corr
0.84	DOXWX	Dodge Cox Global	Pair Corr
0.9	DODWX	Dodge Global Stock	Pair Corr
0.95	TRZRX	T Rowe Price	Pair Corr
0.84	TEDIX	Franklin Mutual Global	Pair Corr
0.84	MDISX	Franklin Mutual Global	Pair Corr
0.86	TEDSX	Franklin Mutual Global	Pair Corr
0.94	PRAFX	T Rowe Price	Pair Corr
0.8	BEGRX	Franklin Mutual Beacon	Pair Corr
0.64	MIRGX	Massachusetts Investors	Pair Corr
0.61	NWNAX	Nationwide Destination	Pair Corr

Moving against Polaris Mutual Fund

0.32	LETRX	Voya Russia Fund	Pair Corr
0.5	MSPTX	Global Advantage Por	Pair Corr
0.45	WCPSX	Mobile Telecommunicatio	Pair Corr
0.32	IWRFX	Voya Russia Fund	Pair Corr
0.31	PSDNX	Putnam Ultra Short	Pair Corr
0.76	PHASX	Midcap Growth	Pair Corr
0.61	FBGRX	Fidelity Blue Chip	Pair Corr
0.57	IEOSX	Voya Large Cap	Pair Corr
0.57	VRLCX	Voya Large Cap	Pair Corr

Related Correlations Analysis

	PGVFX	FAGIX	JHQDX	FGXXX	USDIX	VSTSX	CSOIX	FSPGX	IIXIX	VFIAX
PGVFX		-0.07	-0.32	-0.23	-0.42	-0.24	-0.31	-0.62	-0.48	-0.3	PGVFX
FAGIX	-0.07		0.84	0.36	0.75	0.95	0.88	0.75	0.86	0.93	FAGIX
JHQDX	-0.32	0.84		0.41	0.69	0.89	0.78	0.89	0.85	0.89	JHQDX
FGXXX	-0.23	0.36	0.41		0.59	0.33	0.57	0.3	0.39	0.33	FGXXX
USDIX	-0.42	0.75	0.69	0.59		0.76	0.91	0.72	0.89	0.74	USDIX
VSTSX	-0.24	0.95	0.89	0.33	0.76		0.84	0.86	0.9	0.99	VSTSX
CSOIX	-0.31	0.88	0.78	0.57	0.91	0.84		0.77	0.89	0.82	CSOIX
FSPGX	-0.62	0.75	0.89	0.3	0.72	0.86	0.77		0.88	0.88	FSPGX
IIXIX	-0.48	0.86	0.85	0.39	0.89	0.9	0.89	0.88		0.89	IIXIX
VFIAX	-0.3	0.93	0.89	0.33	0.74	0.99	0.82	0.88	0.89		VFIAX
	PGVFX	FAGIX	JHQDX	FGXXX	USDIX	VSTSX	CSOIX	FSPGX	IIXIX	VFIAX

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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

VFIAX	+ 0.99	VSTSX
VSTSX	+ 0.95	FAGIX
VFIAX	+ 0.93	FAGIX
CSOIX	+ 0.91	USDIX
IIXIX	+ 0.9	VSTSX
VSTSX	+ 0.89	JHQDX

High negative correlations

FSPGX	- 0.62	PGVFX
IIXIX	- 0.48	PGVFX
USDIX	- 0.42	PGVFX
JHQDX	- 0.32	PGVFX
CSOIX	- 0.31	PGVFX
VFIAX	- 0.3	PGVFX

Risk-Adjusted Indicators

There is a big difference between Polaris Mutual Fund performing well and Polaris Global 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 Polaris Global'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
PGVFX	0.56	(0.13)	0.00	(0.53)	0.00	0.00	0.88	(1.30)	5.21
FAGIX	0.21	0.01	(0.03)	0.22	0.24	(0.25)	0.40	(0.30)	2.05
JHQDX	0.28	0.04	0.03	1.08	0.47	(0.29)	0.61	(0.66)	2.79
FGXXX	0.03	0.01	0.00	3.54	0.00	0.00	0.00	0.00	1.01
USDIX	0.02	0.00	0.00	(0.13)	0.00	0.00	0.00	0.00	0.51
VSTSX	0.56	0.06	0.04	0.50	0.77	(0.57)	1.09	(1.13)	5.94
CSOIX	0.07	0.00	(0.14)	(0.57)	0.00	(0.16)	0.11	(0.11)	0.95
FSPGX	0.70	0.15	0.10	(13.86)	0.93	(0.68)	1.65	(1.52)	6.00
IIXIX	0.10	0.02	(0.03)	(4.36)	0.00	(0.14)	0.22	(0.22)	0.66
VFIAX	0.54	0.06	0.05	0.59	0.74	(0.53)	1.09	(1.10)	5.48

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