Pnc International Correlations

PMIEX Fund  USD 21.26  3.06  12.58%   
The current 90-days correlation between Pnc International Equity and Federated Emerging Market is 0.45 (i.e., Very weak 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 Equity and DJI is 0.51 (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 Equity 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 Equity. 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 income.

Moving together with Pnc Mutual Fund

  0.67FRIEX Federated Hermes EmergingPairCorr
  0.81STFSX Federated StrategicPairCorr
  0.82STIAX Federated StrategicPairCorr
  0.82STILX Federated StrategicPairCorr
  0.64STISX Federated StrategicPairCorr
  0.73FSGVX Federated U SPairCorr
  0.71FSGIX Federated Gov SecPairCorr
  0.83INISX Federated IntermediatePairCorr
  0.67PIEFX Pnc Emerging MarketsPairCorr
  0.89PIGDX Pnc International GrowthPairCorr
  0.9FTIBX Federated Global TotalPairCorr
  0.9FTIIX Federated Global TotalPairCorr
  0.85FTGLX Federated Total ReturnPairCorr
  0.85FTGSX Federated Total ReturnPairCorr
  1.0PIUCX Pnc International EquityPairCorr
  1.0PIUIX Pnc International EquityPairCorr

Moving against Pnc Mutual Fund

  0.76FRSAX Federated Floating RatePairCorr
  0.41QLSGX Federated Mdt SmallPairCorr
  0.41QLSCX Federated Mdt SmallPairCorr
  0.56FULAX Federated Ultrashort BondPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
FSBCXSBFIX
STIAXSTFSX
STISXEMDIX
STISXSTFSX
STISXSTIAX
STFSXEMDIX
  
High negative correlations   
FRSAXSTIAX
FRSAXSTFSX
FRSAXFRIEX
FRSAXEMDIX
FRSAXSTISX
FRIEXQKACX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EMDIX  0.19 (0.04) 0.00 (0.74) 0.00 
 0.26 
 1.66 
QKACX  0.67 (0.06) 0.00 (0.04) 0.00 
 1.22 
 10.29 
QKBGX  0.54 (0.15) 0.00 (0.20) 0.00 
 0.85 
 9.77 
SBFIX  0.36 (0.03) 0.00 (0.05) 0.00 
 0.63 
 3.03 
FRIEX  0.69 (0.03) 0.00 (0.04) 0.00 
 1.70 
 4.82 
STFSX  0.19 (0.04) 0.00 (0.57) 0.00 
 0.24 
 1.22 
STIAX  0.19 (0.04) 0.00 (0.54) 0.00 
 0.24 
 1.21 
STISX  0.17 (0.04) 0.00 (0.47) 0.00 
 0.24 
 1.34 
FRSAX  0.06  0.00 (0.13) 0.00  0.00 
 0.12 
 0.70 
FSBCX  0.36 (0.04) 0.00 (0.06) 0.00 
 0.66 
 3.12