Midcap Fund Correlations

PMBPX Fund

USD 48.03 0.29 0.60%

The current 90-days correlation between Midcap Fund R and Bbh Intermediate Municipal is -0.17 (i.e., Good 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

Almost no diversification

The correlation between Midcap Fund R 5 and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Fund R 5 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 R 5. 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 american community survey.

Moving together with Midcap Mutual Fund

0.89	SABPX	Strategic Asset Mana	Pair Corr
0.97	SACAX	Strategic Asset Mana	Pair Corr
0.96	SAGPX	Strategic Asset Mana	Pair Corr
0.74	SAIPX	Strategic Asset Mana	Pair Corr
0.92	PFLJX	Principal Lifetime 2050	Pair Corr
0.98	PFPPX	Midcap Growth	Pair Corr
0.97	PGBEX	Blue Chip Fund	Pair Corr
0.81	PGBFX	Blue Chip Fund	Pair Corr
0.97	PGBHX	Blue Chip Fund	Pair Corr
0.9	PGLSX	Global Multi Strategy	Pair Corr
0.98	PGRTX	Smallcap Growth	Pair Corr
0.98	PGWIX	Midcap Growth	Pair Corr
0.93	SCBPX	Strategic Asset Mana	Pair Corr
0.84	PHASX	Midcap Growth	Pair Corr
0.64	SCIPX	Strategic Asset Mana	Pair Corr
0.96	SCGPX	Strategic Asset Mana	Pair Corr
0.86	PHJEX	Principal Lifetime Hybrid	Pair Corr

Moving against Midcap Mutual Fund

0.61	PFIEX	International Equity	Pair Corr
0.61	PGRVX	Global Real Estate	Pair Corr
0.57	PFISX	International Small Pany	Pair Corr
0.53	PGRUX	Global Real Estate	Pair Corr
0.41	STCCX	Short Term Income	Pair Corr
0.4	PGDCX	Global Diversified Income	Pair Corr
0.37	PGBAX	Global Diversified Income	Pair Corr
0.32	PGDIX	Global Diversified Income	Pair Corr
0.31	PGBLX	Global Diversified Income	Pair Corr
0.65	PICNX	Income Fund R	Pair Corr
0.61	PIDIX	International Equity	Pair Corr
0.59	PIFPX	Inflation Protection	Pair Corr
0.53	PGRKX	Global Real Estate	Pair Corr
0.46	PIIIX	Diversified International	Pair Corr

Related Correlations Analysis

	BBINX	DHGCX	PRVHX	ARTFX	TFBIX	CCD	ABNTX	GMOZX
BBINX		0.81	0.24	-0.03	0.88	0.14	0.74	0.24	BBINX
DHGCX	0.81		0.21	-0.42	0.68	-0.03	0.85	-0.04	DHGCX
PRVHX	0.24	0.21		0.6	0.33	0.7	0.5	0.7	PRVHX
ARTFX	-0.03	-0.42	0.6		0.16	0.56	-0.15	0.85	ARTFX
TFBIX	0.88	0.68	0.33	0.16		0.22	0.6	0.41	TFBIX
CCD	0.14	-0.03	0.7	0.56	0.22		0.34	0.51	CCD
ABNTX	0.74	0.85	0.5	-0.15	0.6	0.34		0.14	ABNTX
GMOZX	0.24	-0.04	0.7	0.85	0.41	0.51	0.14		GMOZX
	BBINX	DHGCX	PRVHX	ARTFX	TFBIX	CCD	ABNTX	GMOZX

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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

TFBIX	+ 0.88	BBINX
ABNTX	+ 0.85	DHGCX
GMOZX	+ 0.85	ARTFX
DHGCX	+ 0.81	BBINX
ABNTX	+ 0.74	BBINX
CCD	+ 0.7	PRVHX

High negative correlations

ARTFX	- 0.42	DHGCX
ABNTX	- 0.15	ARTFX
GMOZX	- 0.04	DHGCX
CCD	- 0.03	DHGCX
ARTFX	- 0.03	BBINX

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
BBINX	0.12	0.01	(0.37)	(0.07)	0.13	(0.18)	0.29	(0.29)	1.07
DHGCX	0.16	(0.01)	(0.61)	(0.11)	0.16	(0.19)	0.35	(0.25)	0.96
PRVHX	0.10	0.00	(0.88)	0.34	0.00	(0.10)	0.22	(0.20)	0.53
ARTFX	0.12	0.03	(0.54)	0.62	0.00	(0.20)	0.33	(0.22)	1.01
TFBIX	0.16	0.01	(0.25)	0.33	0.19	(0.23)	0.40	(0.39)	1.58
CCD	0.75	0.02	(0.07)	0.25	0.90	(0.81)	1.88	(1.68)	4.88
ABNTX	0.14	(0.01)	(0.49)	(0.53)	0.18	(0.17)	0.29	(0.30)	0.88
GMOZX	0.13	0.02	(0.46)	1.61	0.00	(0.18)	0.28	(0.33)	0.72

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