T Rowe Correlations

PRSNX Fund

USD 10.03 0.02 0.20%

The current 90-days correlation between T Rowe Price and T Rowe Price is 0.82 (i.e., Very poor 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

Average diversification

The correlation between T Rowe Price and DJI is 0.15 (i.e., Average 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 board of governors.

Moving together with PRSNX Mutual Fund

0.93	DFGBX	Dfa Five Year	Pair Corr
0.67	GAAKX	Gmo Alternative Allo	Pair Corr
0.7	GAAGX	Gmo Alternative Allo	Pair Corr
0.87	GPBFX	Gmo E Plus	Pair Corr
0.82	WARCX	Wells Fargo Advantage	Pair Corr
0.76	PG	Procter Gamble	Pair Corr
0.71	MCD	McDonalds	Pair Corr
0.64	TRV	The Travelers Companies	Pair Corr
0.71	JNJ	Johnson Johnson	Pair Corr
0.78	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against PRSNX Mutual Fund

0.84	PQTAX	Pimco Trends Managed	Pair Corr
0.84	PQTNX	Pimco Trends Managed	Pair Corr
0.84	PQTIX	Aa Pimco Tr	Pair Corr
0.66	GPMFX	Guidepath Managed Futures	Pair Corr
0.51	AA	Alcoa Corp	Pair Corr
0.39	HPQ	HP Inc	Pair Corr
0.51	CAT	Caterpillar	Pair Corr
0.48	AXP	American Express	Pair Corr
0.47	MSFT	Microsoft	Pair Corr
0.41	MRK	Merck Company	Pair Corr
0.33	BA	Boeing Buyout Trend	Pair Corr

Related Correlations Analysis

	PRCIX	PRPIX	PRFRX	PREMX	PRWBX
PRCIX		0.99	0.65	0.93	0.63	PRCIX
PRPIX	0.99		0.68	0.94	0.65	PRPIX
PRFRX	0.65	0.68		0.82	0.73	PRFRX
PREMX	0.93	0.94	0.82		0.69	PREMX
PRWBX	0.63	0.65	0.73	0.69		PRWBX
	PRCIX	PRPIX	PRFRX	PREMX	PRWBX

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Risk-Adjusted Indicators

There is a big difference between PRSNX 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
PRCIX	0.24	0.04	0.38	0.59	0.11	(0.31)	0.63	(0.39)	1.42
PRPIX	0.24	0.03	0.35	0.52	0.12	(0.32)	0.63	(0.38)	1.39
PRFRX	0.07	0.01	0.54	0.08	0.00	(0.29)	0.43	(0.11)	0.87
PREMX	0.19	0.04	0.44	0.58	0.00	(0.26)	0.65	(0.33)	1.20
PRWBX	0.09	0.01	0.37	(0.33)	0.00	(0.25)	0.22	(0.22)	0.66

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