Small-midcap Dividend Correlations

PMDDX Fund

USD 17.72 0.15 0.84%

The current 90-days correlation between Small Midcap Dividend and Diversified Bond Fund is 0.13 (i.e., Average diversification). The correlation of Small-midcap Dividend 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.

Small-midcap Dividend Correlation With Market

Very poor diversification

The correlation between Small Midcap Dividend Income and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Midcap Dividend Income 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 Small Midcap Dividend Income. 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 Small-midcap Mutual Fund

0.73	SABPX	Strategic Asset Mana	Pair Corr
0.84	SACAX	Strategic Asset Mana	Pair Corr
0.72	SAGPX	Strategic Asset Mana	Pair Corr
0.76	PFLJX	Principal Lifetime 2050	Pair Corr
0.91	PFPPX	Midcap Growth	Pair Corr
0.93	PGBEX	Blue Chip Fund	Pair Corr
0.94	PGBHX	Blue Chip Fund	Pair Corr
0.93	PGRTX	Smallcap Growth	Pair Corr
0.91	PGWIX	Midcap Growth	Pair Corr
0.75	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.78	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.69	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.67	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.91	PHPPX	Midcap Growth	Pair Corr
0.66	PHTJX	Principal Lifetime Hybrid	Pair Corr

Moving against Small-midcap Mutual Fund

0.58	STCCX	Short Term Income	Pair Corr
0.52	PGSLX	Principal Global Sus	Pair Corr
0.51	PFISX	International Small Pany	Pair Corr
0.46	PFIEX	International Equity	Pair Corr
0.37	PFUMX	Finisterre Unconstrained	Pair Corr
0.35	PGBLX	Global Diversified Income	Pair Corr
0.33	PGDIX	Global Diversified Income	Pair Corr
0.31	PGDCX	Global Diversified Income	Pair Corr
0.53	PYHIX	High Yield Fund	Pair Corr

Related Correlations Analysis

	ACBPX	SRDAX	WDIAX	FZABX	CDBCX	MBLAX	ACDOX
ACBPX		-0.39	0.34	0.83	1.0	0.62	0.8	ACBPX
SRDAX	-0.39		-0.09	-0.18	-0.41	-0.05	-0.55	SRDAX
WDIAX	0.34	-0.09		0.51	0.32	0.78	0.27	WDIAX
FZABX	0.83	-0.18	0.51		0.8	0.75	0.61	FZABX
CDBCX	1.0	-0.41	0.32	0.8		0.61	0.82	CDBCX
MBLAX	0.62	-0.05	0.78	0.75	0.61		0.32	MBLAX
ACDOX	0.8	-0.55	0.27	0.61	0.82	0.32		ACDOX
	ACBPX	SRDAX	WDIAX	FZABX	CDBCX	MBLAX	ACDOX

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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

CDBCX	+ 1.0	ACBPX
FZABX	+ 0.83	ACBPX
ACDOX	+ 0.82	CDBCX
ACDOX	+ 0.8	ACBPX
CDBCX	+ 0.8	FZABX
MBLAX	+ 0.78	WDIAX

High negative correlations

ACDOX	- 0.55	SRDAX
CDBCX	- 0.41	SRDAX
SRDAX	- 0.39	ACBPX
FZABX	- 0.18	SRDAX
WDIAX	- 0.09	SRDAX
MBLAX	- 0.05	SRDAX

Risk-Adjusted Indicators

There is a big difference between Small-midcap Mutual Fund performing well and Small-midcap Dividend 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 Small-midcap Dividend'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
ACBPX	0.24	0.02	0.17	0.43	0.17	(0.30)	0.56	(0.44)	1.23
SRDAX	0.16	0.01	0.14	(0.84)	0.12	(0.20)	0.29	(0.37)	0.76
WDIAX	0.62	0.02	0.06	(0.13)	0.76	(0.63)	1.10	(1.32)	3.28
FZABX	0.72	0.12	0.12	0.14	0.93	(0.70)	1.45	(1.37)	6.16
CDBCX	0.23	0.02	0.14	0.39	0.19	(0.29)	0.56	(0.44)	1.34
MBLAX	0.25	0.03	0.13	0.06	0.22	(0.30)	0.62	(0.47)	1.51
ACDOX	0.25	0.03	0.20	(0.35)	0.14	(0.30)	0.55	(0.43)	1.46

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