Midcap Fund Correlations

PMBCX Fund

USD 34.35 0.20 0.58%

The current 90-days correlation between Midcap Fund Class and Morningstar Global Income is 0.81 (i.e., Very poor diversification). The correlation of Midcap Fund 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.

Midcap Fund Correlation With Market

Poor diversification

The correlation between Midcap Fund Class and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Fund Class 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 Midcap Fund Class. 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 main economic indicators.

Moving together with MIDCAP Mutual Fund

0.77	SABPX	Strategic Asset Mana	Pair Corr
0.83	SACAX	Strategic Asset Mana	Pair Corr
0.81	SAGPX	Strategic Asset Mana	Pair Corr
0.78	SAIPX	Strategic Asset Mana	Pair Corr
0.83	PFLJX	Principal Lifetime 2050	Pair Corr
0.81	PFPPX	Midcap Growth	Pair Corr
0.93	PGBEX	Blue Chip Fund	Pair Corr
0.93	PGBGX	Blue Chip Fund	Pair Corr
0.93	PGBHX	Blue Chip Fund	Pair Corr
0.65	PGLSX	Global Multi Strategy	Pair Corr
0.72	PGRTX	Smallcap Growth	Pair Corr
0.82	PGWIX	Midcap Growth	Pair Corr
0.76	SCBPX	Strategic Asset Mana	Pair Corr
0.8	SCIPX	Strategic Asset Mana	Pair Corr
0.77	SCGPX	Strategic Asset Mana	Pair Corr
0.91	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.63	PHJFX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJDX	Principal Lifetime Hybrid	Pair Corr
0.85	PHJNX	Principal Lifetime Hybrid	Pair Corr
0.79	PHJQX	Principal Lifetime Hybrid	Pair Corr

Moving against MIDCAP Mutual Fund

0.45

PYHIX

High Yield Fund

Pair Corr

Related Correlations Analysis

	MSTGX	TACLX	GMLVX	TADGX	TEDIX	LMLRX
MSTGX		0.67	0.81	0.6	0.81	0.55	MSTGX
TACLX	0.67		0.57	0.97	0.58	0.93	TACLX
GMLVX	0.81	0.57		0.51	0.77	0.56	GMLVX
TADGX	0.6	0.97	0.51		0.47	0.96	TADGX
TEDIX	0.81	0.58	0.77	0.47		0.49	TEDIX
LMLRX	0.55	0.93	0.56	0.96	0.49		LMLRX
	MSTGX	TACLX	GMLVX	TADGX	TEDIX	LMLRX

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Risk-Adjusted Indicators

There is a big difference between MIDCAP Mutual Fund performing well and Midcap Fund 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 Midcap Fund'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
MSTGX	0.31	0.07	0.23	0.14	0.34	(0.34)	0.74	(0.62)	1.58
TACLX	0.65	0.01	0.00	(0.06)	0.00	0.00	1.26	(1.48)	3.10
GMLVX	0.71	0.04	0.08	0.03	0.91	(0.77)	1.57	(1.62)	5.51
TADGX	0.62	0.02	0.00	(0.04)	0.00	0.00	1.06	(1.42)	3.18
TEDIX	0.66	0.01	0.00	(0.06)	0.00	0.00	1.01	(1.47)	7.35
LMLRX	0.33	0.01	0.00	(0.05)	0.00	0.00	0.61	(0.69)	2.17

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