T Rowe Correlations

PNAIX Fund

USD 70.82 0.18 0.25%

The current 90-days correlation between T Rowe Price and T Rowe Price is 0.92 (i.e., Almost no diversification). The correlation of T Rowe 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.

T Rowe Correlation With Market

Good diversification

The correlation between T Rowe Price and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding T Rowe Price 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 T Rowe Price. 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 gross domestic product.

Moving together with PNAIX Mutual Fund

1.0	FFAFX	American Funds	Pair Corr
1.0	GFACX	Growth Fund	Pair Corr
1.0	AGTHX	Growth Fund	Pair Corr
1.0	CGFFX	Growth Fund	Pair Corr
0.92	CGFCX	Growth Fund	Pair Corr
0.92	CGFAX	Growth Fund	Pair Corr
0.92	CGFEX	Growth Fund	Pair Corr
1.0	RGAEX	Growth Fund	Pair Corr
0.85	AXP	American Express	Pair Corr
0.8	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.78	BAC	Bank of America Aggressive Push	Pair Corr

Moving against PNAIX Mutual Fund

0.37	BTMPX	Ishares Msci Eafe	Pair Corr
0.37	BTMKX	Blackrock International	Pair Corr
0.33	MDIIX	Blackrock Intern Index	Pair Corr
0.54	VZ	Verizon Communications	Pair Corr
0.38	MCD	McDonalds	Pair Corr
0.37	PG	Procter Gamble	Pair Corr
0.35	KO	Coca Cola	Pair Corr
0.32	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	PRJIX	TTMIX	THISX	TRAIX	RPTIX
PRJIX		0.76	0.54	0.77	0.58	PRJIX
TTMIX	0.76		0.75	0.84	0.46	TTMIX
THISX	0.54	0.75		0.82	0.44	THISX
TRAIX	0.77	0.84	0.82		0.56	TRAIX
RPTIX	0.58	0.46	0.44	0.56		RPTIX
	PRJIX	TTMIX	THISX	TRAIX	RPTIX

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Risk-Adjusted Indicators

There is a big difference between PNAIX Mutual Fund performing well and T Rowe 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 T Rowe'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
PRJIX	0.98	(0.18)	0.00	0.98	0.00	0.00	1.69	(2.35)	5.25
TTMIX	1.02	(0.08)	0.00	0.45	0.00	0.00	1.69	(2.04)	5.81
THISX	0.73	0.06	0.10	0.02	0.81	(0.85)	1.46	(1.19)	4.69
TRAIX	0.43	(0.01)	0.12	0.03	0.54	(0.44)	0.95	(0.90)	2.36
RPTIX	0.93	(0.23)	0.00	(0.34)	0.00	0.00	1.38	(2.06)	9.29

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