Provident Trust Correlations

PROVX Fund

USD 19.80 1.17 5.58%

The current 90-days correlation between Provident Trust Strategy and Polen Growth Fund is 0.4 (i.e., Very weak diversification). The correlation of Provident Trust 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.

Provident Trust Correlation With Market

Very weak diversification

The correlation between Provident Trust Strategy and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Provident Trust Strategy 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 Provident Trust Strategy. 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 real.

Moving together with Provident Mutual Fund

0.95	VTSAX	Vanguard Total Stock	Pair Corr
0.94	VFIAX	Vanguard 500 Index	Pair Corr
0.95	VTSMX	Vanguard Total Stock	Pair Corr
0.95	VITSX	Vanguard Total Stock	Pair Corr
0.95	VSMPX	Vanguard Total Stock	Pair Corr
0.95	VSTSX	Vanguard Total Stock	Pair Corr
0.94	VFINX	Vanguard 500 Index	Pair Corr
0.94	VFFSX	Vanguard 500 Index	Pair Corr
0.94	VINIX	Vanguard Institutional	Pair Corr
0.94	VIIIX	Vanguard Institutional	Pair Corr
0.85	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.89	RYVLX	Nasdaq 100 2x	Pair Corr
0.89	RYVYX	Nasdaq 100 2x	Pair Corr
0.85	UOPIX	Ultra Nasdaq 100	Pair Corr
0.88	RYCCX	Nasdaq 100 2x	Pair Corr
0.86	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.9	INPIX	Internet Ultrasector	Pair Corr
0.9	INPSX	Internet Ultrasector	Pair Corr
0.88	CPCTX	Counterpoint Tactical	Pair Corr
0.73	LHYOX	Lord Abbett High	Pair Corr
0.85	CCLFX	Cliffwater Corporate	Pair Corr
0.64	TEEAX	Rbc Small Cap	Pair Corr
0.75	AOUNX	Angel Oak Ultrashort	Pair Corr
0.89	TORTX	Tortoise Mlp Pipeline	Pair Corr
0.95	LMUSX	Qs Large Cap	Pair Corr
0.83	ETGLX	Eventide Gilead	Pair Corr
0.94	AMGCX	Alger Midcap Growth	Pair Corr
0.67	TMCVX	Thrivent Mid Cap	Pair Corr
0.71	BRLVX	American Beacon Bridgeway	Pair Corr
0.67	ROGSX	Red Oak Technology	Pair Corr
0.8	GTAIX	Power Global Tactical	Pair Corr
0.93	QRSVX	Queens Road Small	Pair Corr
0.79	GMXIX	Nationwide Mid Cap	Pair Corr

Moving against Provident Mutual Fund

0.38

TCELX

T Rowe Price

Pair Corr

Related Correlations Analysis

	POLRX	EGFFX	MAPPX	PARMX	BAWAX
POLRX		0.62	0.77	0.48	0.8	POLRX
EGFFX	0.62		0.36	0.68	0.81	EGFFX
MAPPX	0.77	0.36		-0.01	0.62	MAPPX
PARMX	0.48	0.68	-0.01		0.56	PARMX
BAWAX	0.8	0.81	0.62	0.56		BAWAX
	POLRX	EGFFX	MAPPX	PARMX	BAWAX

Click cells to compare fundamentals

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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

BAWAX	+ 0.81	EGFFX
BAWAX	+ 0.8	POLRX
MAPPX	+ 0.77	POLRX
PARMX	+ 0.68	EGFFX
EGFFX	+ 0.62	POLRX
BAWAX	+ 0.62	MAPPX

High negative correlations

PARMX

- 0.01

MAPPX

Risk-Adjusted Indicators

There is a big difference between Provident Mutual Fund performing well and Provident Trust 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 Provident Trust'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
POLRX	0.70	(0.01)	(0.01)	0.01	1.20	(0.66)	1.26	(1.73)	6.00
EGFFX	1.02	(0.25)	0.00	(0.12)	0.00	0.00	1.53	(1.79)	20.67
MAPPX	1.09	0.32	0.25	0.28	1.00	(1.42)	2.31	(1.41)	10.15
PARMX	0.73	(0.20)	0.00	(0.24)	0.00	0.00	1.24	(1.52)	6.28
BAWAX	0.81	(0.05)	0.00	(0.03)	0.00	0.00	1.40	(2.26)	8.30

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