Global Resources Correlations

PSPFX Fund

USD 3.80 0.02 0.53%

The current 90-days correlation between Global Resources and Artisan Emerging Markets is -0.12 (i.e., Good diversification). The correlation of Global Resources 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.

Global Resources Correlation With Market

Weak diversification

The correlation between Global Resources Fund and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Resources Fund 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 Global Resources Fund. 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 census.

Moving together with Global Mutual Fund

0.66	TRNEX	T Rowe Price	Pair Corr
0.76	PRNEX	T Rowe Price	Pair Corr
0.83	GEACX	Gmo Trust	Pair Corr
0.83	GAAHX	Gmo Resources	Pair Corr
0.74	GMOWX	Gmo Resources	Pair Corr
0.92	RSNYX	Victory Global Natural	Pair Corr
0.91	RGNCX	Victory Global Natural	Pair Corr
0.91	RSNRX	Victory Global Natural	Pair Corr

Moving against Global Mutual Fund

0.39	NEARX	Near Term Tax	Pair Corr
0.49	FAIJX	Faijx	Pair Corr
0.49	PYCWX	Payden E Bond	Pair Corr
0.48	AICYX	California Municipal	Pair Corr
0.47	MAHQX	Blackrock Total Ret	Pair Corr
0.34	MGBMX	Mfs Global Bond	Pair Corr
0.58	JMTCX	Jpmorgan Total Return	Pair Corr
0.57	VUSIX	Invesco Quality Income	Pair Corr

Related Correlations Analysis

	APDOX	FEMDX	QMNIX	SEDAX	PIEFX	BXECX	EPASX
APDOX		0.97	0.9	0.92	0.78	0.9	0.65	APDOX
FEMDX	0.97		0.91	0.95	0.82	0.93	0.71	FEMDX
QMNIX	0.9	0.91		0.92	0.83	0.94	0.72	QMNIX
SEDAX	0.92	0.95	0.92		0.87	0.96	0.79	SEDAX
PIEFX	0.78	0.82	0.83	0.87		0.84	0.91	PIEFX
BXECX	0.9	0.93	0.94	0.96	0.84		0.77	BXECX
EPASX	0.65	0.71	0.72	0.79	0.91	0.77		EPASX
	APDOX	FEMDX	QMNIX	SEDAX	PIEFX	BXECX	EPASX

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Resources 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 Global Resources' 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
APDOX	0.16	0.03	0.22	0.77	0.10	(0.18)	0.30	(0.29)	1.07
FEMDX	0.15	0.02	0.27	2.24	0.00	(0.20)	0.42	(0.26)	1.11
QMNIX	0.30	0.14	0.45	0.89	0.00	(0.41)	0.68	(0.39)	1.97
SEDAX	0.25	0.02	0.18	0.38	0.19	(0.33)	0.59	(0.36)	1.30
PIEFX	0.98	0.10	0.09	0.19	1.27	(0.97)	2.06	(2.04)	6.94
BXECX	0.19	0.03	0.25	(0.58)	0.00	(0.32)	0.55	(0.27)	1.21
EPASX	0.54	0.01	0.05	0.04	0.67	(0.57)	1.02	(1.17)	3.67

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