Permanent Portfolio Correlations

Mutual Funds . USA . 
Fund . Permanent Portfolio Class
PRPHX Fund  USD 61.60  0.20  0.33%   
The current 90-days correlation between Permanent Portfolio Class and Franklin Gold Precious is 0.72 (i.e., Poor diversification). The correlation of Permanent Portfolio 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.

Permanent Portfolio Correlation With Market

Very weak diversification

The correlation between Permanent Portfolio Class and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Permanent Portfolio Class 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 Permanent Portfolio Class. 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 rate.

Moving together with Permanent Mutual Fund

  1.0PRPDX Permanent Portfolio ClassPairCorr
  0.95PRPFX Permanent Portfolio ClassPairCorr
  0.61PRTBX Short Term TreasuryPairCorr
  0.64PRVBX Versatile Bond PortfolioPairCorr
  0.61PRVHX Versatile Bond PortfolioPairCorr
  0.65PRVDX Versatile Bond PortfolioPairCorr
  0.67FBONX American Funds AmericanPairCorr
  0.68FBAFX American Funds AmericanPairCorr
  0.67ABALX American BalancedPairCorr
  0.64BALCX American BalancedPairCorr
  0.66BALFX American BalancedPairCorr
  0.66RLBCX American BalancedPairCorr
  0.64RLBBX American BalancedPairCorr
  0.67CLBAX American BalancedPairCorr
  0.66CLBEX American BalancedPairCorr
  0.67RLBFX American BalancedPairCorr
  0.76EMO Clearbridge Energy MlpPairCorr
  0.77OSPPX Oppenheimer Steelpath MlpPairCorr
  0.77SPMPX Invesco Steelpath MlpPairCorr
  0.77SPMJX Invesco Steelpath MlpPairCorr
  0.75LSHEX Kinetics Spin OffPairCorr
  0.8PEPSX International EmergingPairCorr
  0.61SGSLX Western Asset MortgagePairCorr
  0.62PINCX Putnam IncomePairCorr
  0.62WFITX Intermediate Tax/amt-freePairCorr
  0.72TRGZX T Rowe PricePairCorr
  0.79VSIEX Jpmorgan InternationalPairCorr
  0.7WAFSX Western Asset InflationPairCorr

Moving against Permanent Mutual Fund

  0.41SMPSX Semiconductor UltrasectorPairCorr
  0.37SMPIX Semiconductor UltrasectorPairCorr

Related Correlations Analysis

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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   
IIGCX
+ 1.0
FRGOX
FGDIX
+ 1.0
FRGOX
FGDIX
+ 1.0
IIGCX
OGMCX
+ 0.99
FRGOX
OGMCX
+ 0.99
IIGCX
OGMCX
+ 0.99
FGDIX
  
High negative correlations   
FGDIX
- 0.55
MXKJX
MXKJX
- 0.55
IIGCX
MXKJX
- 0.55
FRGOX
OGMCX
- 0.52
MXKJX
MXKJX
- 0.5
VGSBX

Risk-Adjusted Indicators

There is a big difference between Permanent Mutual Fund performing well and Permanent Portfolio 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 Permanent Portfolio'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.

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