Pender Real Correlations

PNDIX Fund

10.04 0.01 0.1%

The current 90-days correlation between Pender Real Estate and Allianzgi Health Sciences is -0.12 (i.e., Good diversification). The correlation of Pender Real 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.

Pender Real Correlation With Market

Significant diversification

The correlation between Pender Real Estate and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pender Real Estate 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 Pender Real Estate. 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 Pender Mutual Fund

0.89	VTSAX	Vanguard Total Stock	Pair Corr
0.89	VFIAX	Vanguard 500 Index	Pair Corr
0.89	VTSMX	Vanguard Total Stock	Pair Corr
0.89	VITSX	Vanguard Total Stock	Pair Corr
0.89	VSTSX	Vanguard Total Stock	Pair Corr
0.89	VSMPX	Vanguard Total Stock	Pair Corr
0.89	VFINX	Vanguard 500 Index	Pair Corr
0.89	VFFSX	Vanguard 500 Index	Pair Corr
0.95	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.86	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.8	DIS	Walt Disney Sell-off Trend	Pair Corr
0.86	BAC	Bank of America Aggressive Push	Pair Corr
0.92	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.75	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.8	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.84	WMT	Walmart Aggressive Push	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.88	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.82	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.81	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Pender Mutual Fund

0.95	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.91	KO	Coca Cola Aggressive Push	Pair Corr
0.85	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.67	PFHCX	Pacific Funds Small	Pair Corr
0.49	NHS	Neuberger Berman High	Pair Corr
0.41	VGTSX	Vanguard Total Inter	Pair Corr
0.4	VTIAX	Vanguard Total Inter	Pair Corr
0.32	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	RAGHX	BHCHX	LHCCX	FHCCX	SCHLX	PHLAX
RAGHX		0.93	0.53	0.88	0.98	0.93	RAGHX
BHCHX	0.93		0.66	0.95	0.92	0.9	BHCHX
LHCCX	0.53	0.66		0.75	0.52	0.68	LHCCX
FHCCX	0.88	0.95	0.75		0.84	0.85	FHCCX
SCHLX	0.98	0.92	0.52	0.84		0.96	SCHLX
PHLAX	0.93	0.9	0.68	0.85	0.96		PHLAX
	RAGHX	BHCHX	LHCCX	FHCCX	SCHLX	PHLAX

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Risk-Adjusted Indicators

There is a big difference between Pender Mutual Fund performing well and Pender Real 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 Pender Real'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
RAGHX	0.63	(0.17)	0.00	(0.11)	0.00	0.00	0.96	(1.37)	3.33
BHCHX	0.66	(0.13)	0.00	(0.06)	0.00	0.00	1.27	(1.32)	4.20
LHCCX	0.76	(0.10)	(0.12)	0.00	1.01	(0.82)	1.50	(1.57)	5.15
FHCCX	0.70	(0.10)	(0.14)	(0.01)	0.94	(0.66)	1.05	(1.31)	4.04
SCHLX	0.55	(0.15)	0.00	(0.16)	0.00	0.00	0.89	(1.30)	3.08
PHLAX	0.66	(0.15)	0.00	(0.12)	0.00	0.00	1.04	(1.38)	5.07

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