Pnc International Correlations

PIGDX Fund

USD 14.28 0.31 2.12%

The current 90-days correlation between Pnc International Growth and Manning Napier Overseas is 0.75 (i.e., Poor diversification). The correlation of Pnc International 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.

Pnc International Correlation With Market

Very weak diversification

The correlation between Pnc International Growth and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pnc International Growth 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 Pnc International Growth. 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 unemployment.

Moving together with Pnc Mutual Fund

0.61	FRIEX	Federated Hermes Emerging	Pair Corr
0.76	STFSX	Federated Strategic	Pair Corr
0.76	STIAX	Federated Strategic	Pair Corr
0.76	STILX	Federated Strategic	Pair Corr
0.67	STISX	Federated Strategic	Pair Corr
0.7	INISX	Federated Intermediate	Pair Corr
0.61	PIEFX	Pnc Emerging Markets	Pair Corr
0.7	FTIBX	Federated Global Total	Pair Corr
0.71	FTIIX	Federated Global Total	Pair Corr
0.69	FTGLX	Federated Total Return	Pair Corr
0.69	FTGSX	Federated Total Return	Pair Corr
0.88	PIUCX	Pnc International Equity	Pair Corr
0.89	PIUIX	Pnc International Equity	Pair Corr

Moving against Pnc Mutual Fund

0.46

FRSAX

Federated Floating Rate

Pair Corr

Related Correlations Analysis

	MNOZX	AFCSX	FAOSX	CIGYX	BUIIX
MNOZX		0.97	0.97	0.98	0.97	MNOZX
AFCSX	0.97		0.97	0.99	0.97	AFCSX
FAOSX	0.97	0.97		0.98	0.96	FAOSX
CIGYX	0.98	0.99	0.98		0.97	CIGYX
BUIIX	0.97	0.97	0.96	0.97		BUIIX
	MNOZX	AFCSX	FAOSX	CIGYX	BUIIX

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Risk-Adjusted Indicators

There is a big difference between Pnc Mutual Fund performing well and Pnc International 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 Pnc International'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
MNOZX	0.66	(0.14)	(0.26)	0.95	(1.39)	4.82
AFCSX	0.66	(0.15)	(0.27)	0.99	(1.72)	4.46
FAOSX	0.68	(0.17)	(0.30)	1.13	(1.67)	4.64
CIGYX	0.72	(0.15)	(0.32)	1.20	(1.30)	5.73
BUIIX	0.60	(0.18)	(0.33)	0.79	(1.39)	5.67

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