Pioneer Multi-asset Correlations

PMFRX Fund

USD 11.70 0.01 0.09%

The current 90-days correlation between Pioneer Multi Asset and Pioneer Fundamental Growth is 0.16 (i.e., Average diversification). The correlation of Pioneer Multi-asset 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.

Pioneer Multi-asset Correlation With Market

Weak diversification

The correlation between Pioneer Multi Asset Income and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pioneer Multi Asset 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 Pioneer Multi Asset 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 metropolitan statistical area.

Moving together with Pioneer Mutual Fund

0.62	PGEKX	Pioneer Global Equity	Pair Corr
0.99	PMFKX	Pioneer Multi Asset	Pair Corr
0.63	PRGEX	Pioneer Global Equity	Pair Corr
0.84	RIRAX	Capital Income Builder	Pair Corr
0.82	RIREX	Capital Income Builder	Pair Corr
0.83	RIRCX	Capital Income Builder	Pair Corr
0.81	RIRFX	Capital Income Builder	Pair Corr
0.84	CIRCX	Capital Income Builder	Pair Corr
0.83	CIREX	Capital Income Builder	Pair Corr
0.84	RIRBX	Capital Income Builder	Pair Corr
0.81	CAIFX	Capital Income Builder	Pair Corr
0.81	CIRFX	Capital Income Builder	Pair Corr
0.82	CIRAX	Capital Income Builder	Pair Corr
0.74	BXECX	Barings Emerging Markets	Pair Corr
0.72	BXEIX	Barings Emerging Markets	Pair Corr
0.73	BXEAX	Barings Emerging Markets	Pair Corr
0.67	HLDIX	Hartford Emerging	Pair Corr
0.67	HLDRX	Hartford Emerging	Pair Corr
0.67	HLDAX	Hartford Emerging	Pair Corr
0.66	HLDCX	Hartford Emerging	Pair Corr
0.67	HLDTX	Hartford Emerging	Pair Corr

Related Correlations Analysis

	PFGKX	PGEKX	CERPX	STIIX	STIKX	STRKX	GOF	PIOKX	PMCKX
PFGKX		0.56	0.94	-0.25	-0.11	-0.52	0.7	0.88	0.89	PFGKX
PGEKX	0.56		0.51	-0.1	-0.04	0.03	0.23	0.75	0.39	PGEKX
CERPX	0.94	0.51		-0.29	-0.1	-0.61	0.86	0.8	0.95	CERPX
STIIX	-0.25	-0.1	-0.29		0.91	0.76	-0.22	-0.33	-0.33	STIIX
STIKX	-0.11	-0.04	-0.1	0.91		0.64	0.02	-0.21	-0.17	STIKX
STRKX	-0.52	0.03	-0.61	0.76	0.64		-0.63	-0.47	-0.67	STRKX
GOF	0.7	0.23	0.86	-0.22	0.02	-0.63		0.51	0.81	GOF
PIOKX	0.88	0.75	0.8	-0.33	-0.21	-0.47	0.51		0.78	PIOKX
PMCKX	0.89	0.39	0.95	-0.33	-0.17	-0.67	0.81	0.78		PMCKX
	PFGKX	PGEKX	CERPX	STIIX	STIKX	STRKX	GOF	PIOKX	PMCKX

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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

PMCKX	+ 0.95	CERPX
CERPX	+ 0.94	PFGKX
STIKX	+ 0.91	STIIX
PMCKX	+ 0.89	PFGKX
PIOKX	+ 0.88	PFGKX
GOF	+ 0.86	CERPX

High negative correlations

PMCKX	- 0.67	STRKX
GOF	- 0.63	STRKX
STRKX	- 0.61	CERPX
STRKX	- 0.52	PFGKX
PIOKX	- 0.47	STRKX
PMCKX	- 0.33	STIIX

Risk-Adjusted Indicators

There is a big difference between Pioneer Mutual Fund performing well and Pioneer Multi-asset 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 Pioneer Multi-asset'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
PFGKX	0.65	(0.10)	(0.10)	0.00	1.16	(0.62)	1.18	(1.71)	6.61
PGEKX	0.66	(0.15)	0.00	(0.10)	0.00	0.00	1.03	(1.47)	7.28
CERPX	0.61	(0.07)	(0.08)	0.05	1.03	(0.61)	0.97	(1.56)	6.83
STIIX	0.09	0.00	(0.92)	(0.02)	0.00	(0.16)	0.22	(0.11)	0.79
STIKX	0.09	0.01	(0.91)	(0.05)	0.00	(0.17)	0.22	(0.11)	0.90
STRKX	0.23	0.00	(0.44)	0.10	0.28	(0.27)	0.42	(0.52)	1.56
GOF	0.36	0.08	(0.05)	0.57	0.24	(0.40)	0.98	(0.58)	1.94
PIOKX	0.84	(0.22)	0.00	(0.10)	0.00	0.00	1.45	(1.80)	14.25
PMCKX	0.72	(0.09)	(0.06)	0.03	1.44	(0.70)	1.15	(1.01)	10.74

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